Planned Solutions

In this episode of the Planned Solutions Incorporated Podcast, The Weekly Economic Index (WEI) is a high-frequency (updated weekly rather than monthly or quarterly) economic indicator that has a strong track record of predicting the pace of US economic growth. Currently, the WEI is forecasting slow economic growth but is not yet predicting a recession in 2023. However, the path of this index should be watched closely given the mixed economic signals from other data. Also, One of the new changes under the Secure Act 2.0 will require that high-income earners (those who earned $145,000 or more from their employer in the previous year) have their catch-up contributions allocated to the Roth option. This will make the additional contribution taxable to the employee even though the money will be allocated to their retirement plan rather than their paycheck. And, The electric vehicle tax credit has been expanded to include more makes and models. However, the new rules also come with some significant restrictions t