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The “golden ratio” is a mathematical concept that has influenced civilizations and cultures for centuries. Its direct influence ranges from the design of the Egyptian pyramids to modern-day database management and encryption. It is no surprise that the 60% equity and 40% fixed income (60/40) asset allocation has become a symbol of balance and symmetry in portfolio theory. It is an empirically beautiful and truly harmonious keepsake in the field of portfolio management.

One of the provisions in the new SECURE 2.0 Act permits a 529 Plan account beneficiary to roll unused dollars from a 529 Plan into a Roth IRA. But watch out! The SECURE 2.0 act specifies rules and conditions that must be met before the 529 Plan funds can be safely rolled into the Roth IRA.

The Secure 2.0 Act is a piece of legislation designed to improve retirement security for Americans. Among other things, the Act includes provisions to expand access to employer-sponsored retirement plans, increase catch-up contributions and retirement plan limits, and introduces new Required Minimum Distribution (RMD) rules.

The Consolidated Appropriations Act of 2023 signed into law on December 29, 2022, contains the long-awaited provisions of SECURE 2.0. This is a counterpart to the original Setting Every Community Up for Retirement Enhancement Act (SECURE Act) of 2019. SECURE 2.0 enhances and builds upon the original to help increase retirement savings in America.

U.S. stock prices finished with modest losses for the final week of the year. The S&P 500 closed out the year down more than 18% as investors grappled with higher interest rates and a slowing economy.

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