Financial and Economic Brief - March 1, 2022by © Liberty Publishing, Inc.
Last Date to Make IRA Contributions for 2021
It’s unusual for the IRS to provide tax deductions beyond December 31st. However, when it comes to making an IRA contribution for 2021 you still have time to make it or even setup a new IRA. The deduction is limited to $6,000 for those under age 50 and $7,000 for those 50 and over. There are, as always, limitations. You have until April 15, 2022 to make the contribution.
Paco’s Law – This is a New One!
Paco de Leon is a little-known name in the world of financial planning. She has, however, an interesting slant on how we manage personal saving and spending. And while each one of Paco’s tips and financial analysis are in fact rudimentary, she succinctly spells it all out without it becoming a tedious reading experience. Basically, it boils down to controlling your instincts to spend and consume with complete abandon. Go Paco Go!
Is the Supply Chain Improving?
In a massive effort in distribution logistics, the port of Los Angeles is slowly getting a grip on unloading all of those ships that have been backed up into the Pacific Ocean. Americans are hoping that in short order the supply of everything from refrigerators to shower curtains will vastly improve and US Economy will gradually return to a more normal price structure. Many pundits are accurately pointing out that America should begin to, once again, produce more goods than it imports.