Wealth Planning

A person in a suit examines a stack of documents with a magnifying glass, while using a calculator. The year "2023" is written in blue and circled at the bottom of the image, possibly highlighting the new 2023 IRS limits. Bright, natural light fills the room from a window in the background.

2023 IRS limits announced

November 17, 2022

The IRS recently announced 2023 limits affecting retirement plans and other qualified savings vehicles. The amounts have increased in almost all categories. You will see the changes in bold in this quick reference. 401(k) Related Limits 2023 2022 401(k) Elective Deferrals $22,500 $20,500 401(k) Catch-up Contribution $7,500 $6,500 415 Annual Additions Limit $66,000 $61,000 Annual Compensation Limit $330,000 $305,000 Social Security Taxable Wage Base $160,200 $147,000 Non-401(k) Related Limits 403(b) Elective Deferrals $22,500 $20,500 403(b)

A magnifying glass hovers over a red and white desktop calendar, emphasizing the number 31. The calendar is set to the month of December. The magnifying glass has a black handle and focuses on the date.

2022 Year End Deadlines

November 16, 2022

The year is drawing to a close in a flash and this is the time to address important year end deadlines. Following are key things you should be in communication with your advisor about now. Custodians are busier than normal years and we expect delays that haven’t been experienced in the past. If you haven’t squared away with your SYM team already, we advise making it a priority. 529s Planning to make a contribution to

A bar chart titled "How Far Have You Gotten in Creating a Will?" illustrates percentages for various stages: talked to a loved one (20%), researched online (11%), wrote basic plan/estate plan (7%), consulted a lawyer (3%), filed paperwork (2%), notified loved ones/chose executor (5%), not started (61%). Many still fall prey to estate planning myths. Source:

Five Estate Planning Myths Debunked

November 3, 2022

No one likes to face their own mortality, but estate planning is an important part of every individual’s life. It can be easy to push these plans off into the future, but setting aside time now to get these items squared away can provide peace of mind for yourself as well as your loved ones. Here are some common misconceptions about estate planning along with an explanation of why they are dangerous myths. I have

Illustration of four people working at a table, representing a team of financial advisors. One is holding a clipboard with graphs, another has sheets of data, a third has a calculator, and the fourth is using a tablet. The text discusses smart executive practices.

Key Features of Executive Compensation Packages

November 1, 2022

Whether evaluating competing offers for a new position or placement, or desiring to broaden understanding of a current package, looking at the key components of executive compensation packages can be a valuable exercise. Doing so can help ensure fair and equitable earnings are being offered and can help an executive avoid common mistakes and pitfalls that can prove quite costly. It’s important for an executive to approach their compensation in the same way they might

An infographic by SYM Financial Advisors shows long-term incentives among the 250 largest companies in the S&P 500 index for 2021. Three trophies indicate: Stock Options (54%), Restricted Stock (65%), and Performance Awards (92%).

Why Corporate Executives Need Specialized Financial Planning

October 6, 2022

While the compensation structure of a corporate executive is definitely one of the perks of rising in the ranks, the vast complexities of the modern executive compensation package also leave the door open for missteps around every corner. Many freshly minted executives want to keep managing their personal income, retirement, and tax preparation, because that’s the way they’ve been doing it for years. But tap a longtime executive on the shoulder for a piece of

Two white bulldogs with wrinkled faces and stocky builds stand side by side on grass, facing the camera. The background features blurred autumnal foliage, suggesting it is fall. Both dogs have similar expressions, giving them a stern and attentive look—much like seasoned stock market analysts.

The stock market and the economy are not the same.

September 21, 2022

“Be aware that the market does not turn when it sees light at the end of the tunnel. It turns when all looks black, but just a subtle shade less black than the day before.” – James Montier Why must we view them differently? The stock market is frequently taken for a real-time analog to the economy. Too often the two are compared in ways that make them appear similar. It may surprise you to

2023 IRS limits announced

2022 Year End Deadlines

Five Estate Planning Myths Debunked

Key Features of Executive Compensation Packages

Why Corporate Executives Need Specialized Financial Planning

The stock market and the economy are not the same.

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