Mint Hill Monthly – March 2023

We are excited to introduce Mint Hill Monthly, a newsletter designed to provide you updates on the market, our firm, and practical information to help you stay informed regarding your finances. We know you are busy, so our goal is to keep this concise. Below are the key takeaways from the month of March:

1) The fallout from the recent bank failures appears to have settled. By now, much has been written about the failures of Silicon Valley Bank, Silvergate and Signature, implications of rising rates on our banking system, and the Fed’s apparent decision to slow the pace of rate hikes. To stay informed on this topic, we recommend following Bloomberg columnist Matt Levine:

A few key points to keep in mind as an investor:

  • This isn’t the first time a bank has failed, and it won’t be the last. With that perspective keep an eye on the big picture if you are a long-term investor.
  • No one knows what the future holds, so worry about what you can control.
  • You have the freedom to NOT worry about the day-to-day movement of the market.
  • If you want to chat more, reach out! That’s what we’re here for.

2) Schwab and TD Ameritrade are merging later this summer. More information to follow in the months ahead. Charles Schwab acquired TD Ameritrade back in 2020, and to this point the platforms have continued to function separately. However, beginning this summer, the two custodians will merge under the Schwab Alliance platform. Our team has begun preparations for this transition and expect it to be smooth with minimal impact to our clients. We will share more about expected changes and timeline as we learn more in the months ahead.

3) Mint Hill will need updated paperwork if we manage a retirement plan through your employer. If our firm manages a retirement plan through your employer, we will be reaching out to you to update our paperwork on file. Please expect to receive a quick one-page DocuSign over the next week. We are requesting this be signed and returned by Friday, April 21st.

4) The federal individual tax deadline is fast approaching. The tax deadline for your 2022 individual filing is Tuesday, April 18th. This is a simple reminder that you have until this date to fund your IRAs, Roth IRAs, and the employer side of your individual 401ks for the 2022 year. If you have not done this but want to, please reach out to us as soon as possible as this process can take 1-2 weeks. If you are funding retirement plans through your employer, this is also a good time to confirm your deferral percentage is set to meet your contribution target by the end of the 2023 year.

Lastly, we want to take a moment to thank you for your trust. At Mint Hill, our greatest source of new clients comes from referrals from satisfied clients. If you have friends or colleagues who could benefit from our services, we would be honored to have the opportunity to work with them. If you do refer someone to us, please let them know to mention your name so that we can express our gratitude to you.

As always, please reach out with any questions or if we can be a resource to you!

Tyler Anderson, CFP®
Mint Hill Wealth Management

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