Campbell Wealth Management - April 2024

Check out our April newsletter!

April 2024 • (703) 535-5300 • 330 John Carlyle St., Suite 400, Alexandria, VA 22314

SIMPLE STEPS TO FINANCIAL SMARTS Tools and Resources for Every Generation

As everyone knows, April is tax time, and Monday, April 15, is the deadline. Some individuals file their taxes in January and February, and others wait until the last minute — some even go to the extreme and file an extension, buying them another six months until October 15.

2. Invest in a Roth. If your employer’s 401(k) has a Roth provision within it, you are able to invest in a Roth. The new 2024 rule allows you to add $23,000 in contributions plus a $7,500 catchup if you are over age 50. All of those funds, plus any matching contributions from your employer, can go directly into the Roth side of your 401(k).

But no matter which type of taxpayer you are, there are some rules worth mentioning.

Keep in mind for both your contributory Roth and the Roth 401(k), all of these funds are after-tax, so you don’t get a deduction, meaning that it’s much more expensive than putting funds into a traditional IRA or 401(k).

Do your tax planning early. When I say early, I don’t mean in the tax year you are filing your taxes, because when you file your taxes by April 15, you are filing

taxes for the year prior. To accurately tax plan, you must start at the beginning of the tax year for that particular tax year. To take it a step further,

3. Complete a Roth conversion. As you can see, there are several restrictions to the Roth IRA and 401(k), but there are no limits or age restrictions in converting your IRA into a Roth IRA. As a reminder, for any funds you convert, you must pay

when you do tax planning, you plan for the tax year you are in and think 5–10 years ahead. To get the most value, as you make tax decisions this year and even next year, think about the impact those decisions will have for the next few decades.

tax on the capital gains. So, if you want to convert $1,000 or $1,000,000, that is a taxable event that adds to your income to determine your tax bracket.

Remember the 3 simple ways to invest in a Roth.

So, why are we so excited about the Roth? Because if you believe like I do that tax

1. Add to a contributory Roth.

To add to a contributory Roth, you must have earned income for that tax year. If you are over the age of 50, you can put $7,000 plus a $1,000 catchup into your contributory Roth. (Per the new 2024 rules, those contributions are after-tax.)

rates are low right now and will be for 2024 and 2025 and may rise considerably after that, then you’ll be happy knowing that while you will pay the tax now, you won’t have to pay any tax on your Roth in the future when you withdraw it.

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An even further benefit is that if you pass away, your spouse can inherit and continue the Roth.

I found a couple of great financial guidebooks by a company called Lightbulb Press that I highly recommend.

And finally, if you and your spouse die, and it goes to your kids, your children can hold it for up to 10 years as it continues to grow tax-free.

You can also check out a course or a class to brush up on your finance skills and knowledge. I’ve been teaching retirement courses for the last 20 years, but you can also enroll in one through local community colleges or senior services. Keep in mind that you can also look up financial questions on YouTube and Google (being careful to take this information in stride, for many times, businesses are trying to sell you something). Understanding finances, being financially literate, knowing how to save, and participating in saving are necessities in today’s world to secure your retirement. So, no matter who this is for, you, your kids, or your grandchildren, make sure that you become knowledgeable in this very important subject. Happy Financial Literacy Month!

If you have further questions on this, please don’t hesitate to reach out to us — we will be happy to answer them.

Shifting gears, because April is Financial Literacy Month and because so much of our lives relies on finances, it’s paramount for us, our kids, and our grandkids to be financially smart. Your children and grandchildren likely don’t have as strong of a financial understanding as you do — schools just don’t teach this stuff, unfortunately. So, anything you can do to improve your knowledge, and more importantly, that of your offspring, is crucial. Several ways to get ahead of the financial knowledge curve include visiting your local library, bookstore, or and investing in a book on finances. But don’t get that 1,000+ page book like “War and Peace” because you’ll never finish it. Instead, I recommend scouting out the shortest summary book you can find on finances.

Kelly Campbell

Behind the Scenes The Dedicated Professionals Making It Happen

At Campbell Wealth Management, our team is the cornerstone of our success. As we celebrate Administrative Professionals Day on April 24, we want to take this opportunity to express our profound gratitude for the indispensable administrative professionals at our firm. From managing daily operations to providing crucial support to every department, our administrative team ensures smooth functioning and efficient workflows. Their dedication, attention to detail, and professionalism are fundamental to our success. We’d like to highlight two of our team members!

is a tremendous asset to the team as she is constantly focused on improving the CWM brand and client experiences.

Amanda Cetel Operations Associate Amanda Cetel is a self- directed team player who takes initiative, anticipates needs, ensures consistently high-quality work, and adapts to different situations. Her sharp attention to detail and dedication to top-notch efficiency make her an asset to our Campbell Wealth Management team.

Gina Doerr Office Coordinator Gina Doerr creates a positive and welcoming experience for clients, visitors, and employees.

Her role focuses on ensuring that all interactions and

As we celebrate Administrative Professionals Day, we reaffirm our commitment to fostering a work environment where every team member feels valued, respected, and empowered. Our administrative professionals are truly invaluable assets, and we are honored to have them as part of the Campbell Wealth Management family.

touchpoints reflect the firm’s values and leave a lasting impression. She

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Retirement is the end goal after decades spent working and saving. Once reached, a common question retirees ask is, “Now what?” There’s a massive gap in your schedule now, and there are countless things you can fill the time with. So, here are four big ideas you can use to take advantage of your newfound freedom. No. 1 See the World The world is a vast and beautiful place, and now that you don’t have obligations tying you down, you can finally get out there and see everything on your bucket list. If you ever wanted to experience the breathtaking size of the Grand Canyon or dreamt of dining at French cafes by the Seine River in Paris, then retirement is the perfect opportunity to go on those adventures.

further a cause, and even save lives. Volunteer work also connects you with like-minded people, ensuring you make friends with people who share your values. No. 4 Retire a Little Less Some retirees miss the purpose that work gives (as well as the income). Many jobs also keep you on your feet and active. If you count yourself among them, consider picking up a part-time job. Roles like delivery driver, substitute teacher, and dog walker allow you to line your pockets while meeting people. Retirement is not just the end of work — it’s the start of leisure. You can do and experience many things, from seeing the Mona Lisa to volunteering at an animal shelter. It’s time to take advantage of retirement and seize every opportunity.

No. 2 Never Stop Learning Be a lifelong learner. If you’ve always wanted to explore your interests through education but couldn’t fit it into your schedule, now you can. There are courses available online and in person. Many classes specialize in educating seniors, while others offer highly discounted rates. Some colleges allow seniors to audit their courses at little to no cost with a tuition waiver. Lifelong learning also helps reduce the risk of Alzheimer’s and dementia. So, if you worry about these diseases, continuous learning is one of the best defenses you can have.

No. 3 Help and Advocate Many retirees find purpose through

volunteering. Many organizations need a hand, like food banks, soup kitchens, and animal shelters. Giving them some of your time allows you to support your community,

As an ambassador you will be invited to our world-class event in November. More information to come. Be a Campbell Wealth Management Ambassador!

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Follow us on | (703) 535-5300 330 John Carlyle St., Suite 400 Alexandria, Virginia 22314

INSIDE Building a Strong Financial Foundation for Life Recognizing the Vital Role of Our Administrative Team How to Flourish in Your Retirement Years Become an Ambassador! How to Clear Your Mind With Essential Oils





Securities offered only by duly registered individuals through Madison Avenue Securities, LLC (MAS), member FINRA/SIPC. Advisory services offered only by duly registered individuals through Campbell Wealth Management, LLC (CWM), a Registered Investment Advisor. MAS and CWM are not affiliated entities. Our firm does not offer tax or legal advice. Consult your tax or legal advisor regarding your situation.

How Essential Oils Can Enhance Your Daily Life UNLOCK THE POWER OF AROMATHERAPY

Have you ever wondered how to escape feelings of anxiety? We’ve all been there: Anxiety and stress can wear you down over time. On a daily basis, our minds are constantly thinking, worrying, and stressing over the racket and turmoil of daily life. Stress often leads to restlessness and even insomnia.

of the scent, and repeat intermittently for half an hour before you go to bed. The neurotransmitters in your brain will start to wind down while relaxing your mind and body. How It Works The most potent healing compounds are gathered in a single oil by extracting the aromatic oils of plants. The fragrant nature of essential oils triggers the limbic system to create physical reactions in the human body. When inhaled, the scent molecules in essential oils travel through the nose to the olfactory nerves and then the brain, activating the limbic system. The limbic system — known as the “emotional brain” — is responsible for heart rate, blood pressure, breathing, memory, stress levels, and hormone balance. By calming the limbic system, the entire body relaxes and reaps the benefits. Essential oils can lift your mood and make you feel good with just a whiff. If you want to stay calm and fall asleep faster, it’s time to explore the power of essential oils!

Enter Essential Oils Aromatherapy uses essential oils for therapeutic benefit. To save your sanity, essential oils are proven to help with anxiety and stress levels. Lavender essential oil can help with fear, anxiety, stress relief, panic, and depression, reducing nightmares and similar sleep disturbances. To use, put two drops of lavender oil on the inside of

your wrists while slowly rubbing them together. Next, take a deep breath

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