Black Oak Wealth Management, LLC

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Phoenixville, PA
Black Oak Wealth Management, LLC

Investment management for clients by putting the client first and acting as a fiduciary at every step.

Contact me today to rollover your 401k or for help with an existing portfolio!

04/18/2023

As of today (April 18th) only 6 pure EVs are eligible for the full $7,500 tax credit. They include two from Chevrolet, two from Tesla, a Cadillac crossover and the popular Ford F-150 Lighting. Plug-in hybrids from Chrysler and Lincoln also qualify for the full credit.

New Treasury Department rules state that 50% of the battery components and 40% of the minerals in the batteries must come from the US or a trade partner.

There are 11 other vehicles eligible for half the credit.

I would expect some upcoming EVs to meet the full tax credit requirements as well.

Is the demand for electric vehicles hardy enough without tax credits?

Time will tell.

Make it a great day!

After receiving information from automakers, the Treasury Department today issued its final list of EVs available for the full $7,500 credit through the Department of Energy’s fueleconomy.gov website.

03/25/2023

Formula One could be coming to the east coast. Plans to build a new racetrack in Atlantic City, NJ are in the beginning stages. Currently Formula One visits the US for only three events in Miami, Austin and Las Vegas.

Make it a great day!

https://www.phillyvoice.com/atlantic-city-bader-field-racetrack-formula-1-development/?fbclid=IwAR3SgP5RhfTZJMm3xtcAAl3kXDEZgRHJ0gxbHqAXuoXh1F58gojb0YFYO-c

The $2.7 billion proposal from DEEM Enterprises seeks to transform the former municipal airport into a haven for auto enthusiasts

03/22/2023

The Federal Reserve just raised interested rates 0.25%. Many argue it wasn't enough, as others claim they should pause all together. Forecasts are still showing rate cuts in 2024. Inflation is a tough animal, that is slowing down but not taking a nap.

The Federal Reserve raised interest rates by another 0.25% on Wednesday as the central bank works to bring down elevated inflation while also grappling with the fallout from a global banking crisis and resulting market shocks.

01/19/2023

Start early and often.

With many older workers and retirees regretting not saving earlier in life, it's never too soon for new college graduates to start socking away money.

01/09/2023

Ever dream of owning a whole block at the shore?! How about in Avalon NJ? Opportunity knocks, complete with restaurants Whitebrier and Princeton, sitting on 3.12 acres.

Avalon NJ is ranked as one of the top 100 most expensive zip codes in the US with average home values over $3.4 million.

Have a good one!

There's no asking price, but those in the know say buyers should be thinking about $65 million.

01/06/2023

2023 Tax Fact Sheet!

Because of inflation tax brackets have expanded handsomely.

Also, don't forget estimated tax payments for the 4th quarter of 2022 are due January 17th, (if applicable).

Have a great weekend!

Bookmark this guide to stay abreast of the tax-related dates and data that should be on your radar this year.

11/10/2022

Finally! A cooler inflation number of 7.7%! Today's (11/10) report still showed an increase, but less of an increase than anticipated. Still sky-high but a reduction from last month's annualized number of 8%.

In the last 30 days, costs increased by 0.4%.

10/27/2022

The IRS has announced for 2023 a record increase in the contribution limits to 401(k) and 403(b) plans to $22,500, up nearly 10% due to inflation. Those 50 and older can enjoy an increased catch-up limit of $7,500, allowing $30,000 to be saved excluding company match.

IRA contribution limits have been increased to $6,500.

Annual enrollment is upon us, and that makes a perfect time to increase your contributions!

I believe IRA limits should be increased closer to 401(k)/403(b) limits, to help those that don't have access to sponsored plans. But we'll take it.

Stay positive!

The IRS on Friday announced a record increase in contribution limits to 401(k) and other tax-deferred retirement plans for 2023.

06/24/2022

There is some good news out there on the inflation front! "Some."

We're blowing the froth off the top! Stay positive!

Oil prices have come down from their highs, and gas prices are down about 10-15 cents/gallon.

Rising mortgage rates are helping to temper home sales, and we are seeing price reductions.

The below article illustrates the effect of those rate increases. But I don't like the chatter of a 40-year mortgage.

That's nonsense! Stay away!

Enjoy your weekend, it should be a nice one!

The national median monthly payment for a borrower rose to $1,897 in May, according to the Mortgage Bankers Association (MBA).

06/15/2022

Bold moves to calm inflation! We need housing to cool and oil to take break. Did you know housing costs makes up about 30% of CPI inflation and about 40% for the Core (ex-food and energy) CPI numbers that are reported each month?

The Federal Reserve raised interest rates by the most since 1994 on Wednesday, pushing its benchmark rate higher by 0.75% in a bid to slow inflation.

05/17/2022

Inflation Hawk or Dove? We're talking about Monetary Policy.
What does it mean when you hear the Federal Reserve is being hawkish or dovish? Where do those terms come from?
Is a dove the opposite of a hawk?
There are many thoughts on where the terms originated. Did it come from "Mary Poppins," a DC Comic, or the military? It's hard to say.
Here is what they mean:

A dove in nature is lovey dovey, cute, kind, gentle, peaceful thus a "dovish Fed" provides signals of lowering interest rates.

A hawk on the other hand is aggressive, ready to pounce, a sharp eye on inflation thus indicates tightening of monetary policy with the potential to increase interest rates.

So: Dove=cut interest rates or loose, easy monetary policy
Hawk=raise interest rates or tight, harder monetary policy

Enjoy your day!

An inflation hawk, in fiscal policy, is a policymaker or advisor who prioritizes controlling inflation and may favor higher interest rates to keep it in check.

04/25/2022

We've all heard that "money doesn't buy happiness." But could it? It can provide a life with less stress. Especially when dealing with uncertainty and life's surprises.

Stay positive and enjoy your day!

It's not about the bigger home or the better vacation. Financial stability helps people escape the everyday hassles of life, says research by Jon Jachimowicz.

Address

Phoenixville, PA
19460

Telephone

+16104307990

Website

http://www.blackoakwealth.com/

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