Episode 74: Tax Bracket Increases, Retirement Contributions Get Updated & Global Growth Weighed Down + Imagine the Possibilities
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Episode 74: Tax Bracket Increases, Retirement Contributions Get Updated & Global Growth Weighed Down + Imagine the Possibilities
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📰 On this week's episode of Minds Over Money, I go over 3 headlines from last week that directly impact the economy as well as potentially impacting your own investment portfolio. [15:10] And this week’s financial planning topic is Imagine the Possibilities. 🔮
📈 [0:51] The first headline, “Inflation Causes IRS to Raise Tax Brackets and Standard Deduction by 7%”, is an article that explores the recent announcement of adjustments to the tax brackets and some of the metrics used to determine tax deductions.
💰 [5:11] The second headline, “IRS to Make Largest Increase Ever to 401(k) Contribution Limit”, discusses the announcement that will increase the contribution limits on all retirement accounts due to inflation adjustments.
⚖️ [9:11] The Final headline, “Global Economic Growth is Weighed Down by Inflation and Rising Interest Rates”, is a deep dive into the recent economic data from the third quarter around the globe that is pointing to a definite slowdown if not a recession.
Hope you enjoy it!