10 Reasons To Be Thankful

Are you looking for a reason to be thankful this holiday season?  Perhaps your candidate didn’t win the election.  Perhaps your football team is not living up to expectations.   Perhaps you bought Facebook at the IPO (ugh).  Whatever the reason for your melancholy, do not fear.  We have found ten wonderful (albeit lesser known) reasons to help you rediscover your holiday spirit.

  1. In 2013, the maximum 401k contribution limit will increase to $17,500 (and more companies are adding a Roth 401k option for their employees).
  1. The contribution limit for Traditional and Roth IRAs will increase to $5,500 ($6,500 for those age 50 or older).
  1. The annual gift tax exclusion will increase to $14,000 per year, per recipient.  Contact us for information on “superfunding” a 529 Plan (excellent estate planning strategy).
  1. Low mortgage rates.  No-cost refis.
  1. Home prices have risen considerably since the last recession and some areas are selling at record levels (rising home prices could be considered a negative, but I’m choosing to focus on the positive today).
  1. Despite a rough November, both stocks and bonds are trading in positive territory for the year (and the capital gains tax rate is still only 15%–for one more month).
  1. Term life insurance is an incredibly inexpensive way to protect your family from financial disaster.
  1. You have over 140 days (over 320 days if you file an extension) to procrastinate before completing and filing your 2012 tax return.
  1. Regardless of income, anyone can become financially independent over a lifetime.  Live below your means, save & invest and don’t make too many foolish mistakes.  Good advice can be priceless.
  2. We live in a free country and despite all our issues and differences, we have still somehow found a way to work together and accomplish great things for over 235 years (and counting).