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The numbers: The U.S. grew at a solid 3% annual pace in third quarter despite damage from two hurricanes, according to Commerce Department data. That’s above economist expectations of a 2.7% growth rate, according to a MarketWatch survey, and only slightly below the 3.1% growth rate in the second quarter. 10.27.17

Retirement Plan Limits for the Tax Year 2018

On October 19, 2017, the Internal Revenue Service announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2018. 10.23.17

A tax proposal was unveiled on Wednesdayand we believe it will be hard to pass since Congress is at an impasse and the Republicans have struggled to repeal Obama Care.  We do believe that some of the tax reform will go through, eventually, but it will be much different from the current proposal.  Our advice is to sit back and wait for this to be discussed further in Congress and not to base investment decisions on this tax proposal until the final bill is passed.   

A.T. Kohout 09.29.17

Data analysis site analyzed how far $1 Million will last in retirement in every state.  As expected, your funds will last the shortest amount of time in Hawaii, D.C. and California.  Indiana comes in at a respectable #11 where your money will last just north of 24 years.  One surprise in this was Tennessee coming in at #3 for best states to retire in.  The article also has a retirement income calculator where you can add your annual income, current savings and monthly savings and it will project your total savings at retirement as well as your recommended savings.  We are not sure how the site comes up with the recommended savings so please use it just as an interesting tool and not for your true Financial Planning.

Republican lawmakers released a framework for tax reform on Wednesday, announcing that their goals are to cut tax rates, simplify the Internal Revenue Code, and provide a more competitive environment for business. The framework generally reiterates proposals made by President Donald Trump in April. 09.28.17