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April 2021 Newsletter

July 2021 Newsletter

October 2021 Newsletter

January 2022 Newsletter

April 2022 Newsletter

July 2022 Newsletter

January 2023 Newsletter

April 2023 Market Report

The first quarter of 2023 was certainly a rollercoaster.  Stocks surged on less bad earnings reports, fell on fears of a banking crisis, and have subsequently recovered in anticipation that the Federal Reserve will be forced to lower interest rates in response to a recession.  The bond market, which inverted approximately a year ago, has been sniffing out such a recession that has yet to materialize. With inflation still at 5%, we remain skeptical that the Fed will be able to drop rates as quickly as they have in the past.  This economic landscape, combined with a still strong labor market, weakening earnings, and tightened financial conditions, makes us cautious of the current rally.  

Clarification on Required Minimum Distributions (RMDs).   Due to the Secure act 2.0 being signed, the RMD schedule, originally set at 72 has been changed…again. For clarity, we have laid out our understanding of the new rules below based on birthdays and their corresponding RMD age.

RMD at Age 70 ½
For Births on June 30, 1949 or Earlier

The rule change does not apply to you as you have already started taking RMDs.

RMD at Age 72
For Births on July 1, 1949 through and including December 31, 1950

You folks are bound by the original Secure Act 1.0. 72 is your year. If you have not started RMDs yet, please let us know!

RMD at Age 73
For Births on January 1, 1951 through and including December 31, 1959

This is where things get weird. People born in 1951 will all be turning 72 this year, so while originally you may have planned on taking RMDs at 72, you are no longer required to and may wait till 73.

Age at 75
For Births on January 1, 1960 or Later

This is more than a decade down the road and we can address this when the time is closer. Most likely, the rules will change yet again.

Thank you for your business,


Joe Tomkiewicz MS, CFP®

CA Insurance License #0C61979


Sierra Financial Advisory


Michael Tomkiewicz MA, CFP®

CA Insurance License #4063677

Registered Investment Advisor Representative

Sierra Financial Advisory