Womack Investment Advisers

Eat healthier. Get more exercise. Save more money. Those were the top New Year’s resolutions for 2018, according to Statista . 1 Few people achieved them. One of the reasons so few resolutions become reality is because people tend to think too big. For resolutions to succeed they must be small and easily managed, according to Susan Weinschenk in Psychology Today . 1, 2 For instance: If your goal is to eat healthier, commit to having a piece of fruit or a fruit smoothie for breakfast in the morning. Then make it a habit. If your goal is to get more exercise, commit to walking for 20 minutes every morning. (You can do it while drinking your smoothie!) If your goal is to save more money, choose an amount to save and then set-up an automatic deposit into a savings or investment account. When you understand exactly what you want to accomplish, you stand a better chance of accomplishing it. The same is true of retirement planning. We hope

Last week, reports indicated the ‘Setting Every Community Up for Retirement Enhancement’ (SECURE) Act was attached to the federal spending bill President Trump signed into law on Friday. The SECURE Act is intended to expand retirement savings opportunities. Many of its provisions make it easier for Americans to save more for retirement and, also, to convert their savings into income for retirement. The Act will change IRA rules in some significant ways. For instance, Drinker Biddle and Barron’s reported: ·          Contribute to IRA accounts at any age . In the past, Americans had to stop contributing to IRAs at age 70 ½. ·          Begin taking required minimum distributions (RMDs) at age 72 . The age for RMDs was pushed to 72 from age 70 ½. The Act also changes post-death IRA distribution rules, eliminating stretch IRA estate planning strategies. Barron’s explained, “Under the bill, beneficiaries of an IRA would need to draw down the account – and pay income