On December 23, 2022, Congress passed a new set of retirement rules designed to make it easier to contribute to retirement plans and access funds earmarked for retirement. The law is called the SECURE Act...
Know the Benefits of Sending Your RMDs Straight to a Charity
Black Walnut Wealth Management occasionally provides content to Traverse City Business News and other media outlets. This article ran in the December 2022 issue of the Traverse City Business News and can be read in...
6 Financial Best Practices for Year-End 2022
This year, there has been plenty of political, financial, and economic activity — from rising interest rates to elevated inflation to ongoing market turmoil. What impact will the past year have on the annual performance...
5 Tax Tips for Small Business Owners
2022 has proven to be among the most eventful, challenging years for many small business owners. With uncertainty surrounding a recession and high inflation rates, you have certainly dealt with enough. Here are five things...
Inflation, Interest Rates, and the Market
Well, it’s official. The third quarter has ended in bear market territory across multiple markets. To place that news into meaningful context, consider these two questions: 1. In more stable times, did you have a...
The Inflation Reduction Act and Student Loan Forgiveness – How They Might Impact Your Finances
The recent news about President Biden’s student loan forgiveness plan and the passage of the Inflation Reduction Act of 2022 are good reminders about the importance of staying updated on government policies that may affect...
3 Ways to Make Your Money Last a Lifetime
Outliving your savings is most retiree’s biggest fear. Running low on income in retirement could force you to make lifestyle changes or, in a worst-case scenario, even re-enter the workforce. Fortunately, with some planning and...
When to Claim Social Security
One of the most critical decisions you can make regarding your retirement is when you choose to claim Social Security. Deciding when to claim Social Security can significantly affect your monthly income. It can be...
How to Choose a Financial Advisor
Deciding to work with a financial advisor is an important decision. Working with a financial professional means optimizing opportunities and taking advantage of planning strategies you might not have been aware of. A financial advisor...
Recessions and Bad Moods: 6 Ways They are Similar
Are we headed for a recession? Lately, it seems we hear about it daily. There is concern that we are approaching a recession or even in the early stages. Can it be avoided? What does...