Private Wealth Management.

“Two roads diverged in a wood, and I - I took the one less traveled by, and that has made all the difference.” ~Robert Frost

There are some big changes coming to retirement account contributions, and we wanted to share this good news with you as the new year kicks off.

1) Traditional IRA or Roth IRA, the annual contribution limit has increased $500 for the first time since 2019. That means the total annual contribution is now $6,500. Those age 50 and older can contribute an additional $1,000 for a total of $7,500.

2) If you have a SIMPLE IRA the new annual amount individuals can contribute is $15,500. Those age 50 or older can take advantage of the $3,500 catch-up contribution for an annual contribution amount of $19,000.

3) Those who have a 401(k), 403(b), most 457 plans and government plans such as the Thrift Savings Plan can contribute an additional $2,000 a year for a total of $22,500 (up from $20,500 in 2022). Those age 50 or older can make a catch-up contribution of $7,500 this year (up from $6,500) for an annual total of $30,000.

4) There are some contribution changes for your tax-advantaged health accounts. Starting in 2023, those eligible with an FSA (Flexible Spending Account) can put away a total of $3,050. Eligible single workers with an HSA (Health Spending Account) can contribute $3,850 for the year and those eligible with a family plan can do $7,750 in total. Those age 55 or older can contribute an additional $1,000 for the HSA catch-up contribution.

Make sure to consult your tax advisor to discuss how you could benefit from increased savings.

If you have any questions, please reach out to your WorkOptional Team directly.

By Marc D. Langva, CFP®,  Founder & CEO at WorkOptional

What if I told you the world map you have been looking at your entire life is inaccurate? You would say “Marc your crazy!” But it’s true. The global map we all grew up with is called the Mercator map, which was created to make navigation easier while sailing. The map on the left is called the Peters Projection map; this map, unlike the Mercator map, more accurately represents the size, scale, and location of the Earths continents. It turns out that Africa is fourteen times larger than Greenland!

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As of June 30, 2020

Work Optional, Inc. is an Investment Adviser registered with the U.S. Securities and Exchange Commission. We offer our clients investment advisory services. Clients should understand that the services we provide and fees we charge are different than those of a broker-dealer, and that it is important to understand the difference between the two.

Please click here for a complete summary and definitions of ADV Part 3 relationship

April 21, 2020

PANDEMIC: Navigating troubled waters 

By: Carl S. Bang, MBA, CFA, Chief Investment Officer at WorkOptional Private Wealth Management and Marc D. Langva, CFP®, Founder & CEO at WorkOptional Private Wealth Management

This article covers the economic impact, market reaction and investment implications of the market today.


I would like to discuss the effects of the pandemic in terms of economic impact, how governments, central banks and markets have reacted as well as investment implications for managing wealth in this environment.  Let’s take a look at the economic impact of closing down. This has led to the largest economic contraction and unemployment since the great depression.

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As seen in South Lake Neighbors Magazine (October 2019)

By Ann Treml-Olson, CFP®, Senior Wealth Manager at WorkOptional

SLN Magazine October 2019

Volatility is scary and it’s definitely something you don’t want to see on a regular basis.  But, it is a part of investing, and there are some things you can do to gain more peace of mind.

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By Marc D. Langva, CFP®, Founder & CEO at WorkOptional

Do you want the black sheep in the family, or the probate court to make important financial decisions when you pass away?  Probate fees, legal challenges, frozen assets & unexpected financial liabilities are some of the things you can expect if you don’t have an estate plan.  Whether you are working or retired, single or married, wealthy or not, careful estate planning can benefit you and your beneficiaries in more ways than one.

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As seen in South Lake Neighbors Magazine (June 2019)

By Marc D. Langva, CFP®, Founder & CEO at WorkOptional

SLN Magazine June 2019

Picture this…you just received a big inheritance, a large settlement, a huge sports contract, or better yet, you just won the lottery!  No worries now, right?  Wrong.

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As seen in South Lake Neighbors Magazine (April 2019)

By Marc D. Langva, CFP®, Founder & CEO at WorkOptional

How Do You Manage
Money And Marriage?

When couples get engaged, they are excited to plan for their special day.  But newly engaged couples need to think past the wedding day and figure out how they will begin to manage their financial lives together.  As most of us know, money in the number one issue that couples argue about.

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As seen in South Lake Neighbors Magazine (March 2019)

By Marc D. Langva, CFP®, Founder & CEO at WorkOptional

Why do you save? Why do you invest? What is all that hard work for? What is your purpose? It’s because you have a vision, a dream, and certain expectations for you and your family’s future, right? If you answered yes to this question then I’ll assume that you have some sort of plan in place. If you don’t, you’d better get moving…

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As seen in South Lake Neighbors Magazine (February 2019)
By, Derick Gallagher, J.D., Tax, Business & Private Wealth Manager

2018 was a monumental year for tax reform. Substantial tweaks and modifications were made in an attempt to keep that economic engine purring along. Read on to learn some unconventional tax strategies.

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