Michael Blanchard - Valley Wealth Group

01/06/2026

Start 2026 Clutter-Free: Tips on financial paperwork to keep and when to toss

Medical Bills
• Keep only if you’re deducting expenses on your taxes. Otherwise, toss after the claim is paid.

Utility Bills
• Once paid, they can go. Keep up to a year if you’re planning to sell your home.

Major Loans & Insurance Docs
• Keep these, along with important IDs (birth certificate, passport, Social Security card).
• Payoff statements: keep forever.

Annual Tax Returns & Supporting Docs
• Keep the last 3 years. The IRS can audit up to 7 years—see irs.gov for details.

Paystubs
• Keep until you receive your annual W-2.

Property Records
• Keep records of home improvements until you sell the house—they help with capital gains.

Bank Statements
• Keep for 1 year.

Investment Documents
• Keep capital gains reports for 3 years.

07/17/2025

💸A Wealth Transfer Is Coming—Are You Ready?

Right now, a large population of older Americans are passing on considerable assets to their heirs.

If you believe you will inherit money from your parents someday, now is the time to consider a financial strategy for that inheritance. As you deal with the aftermath of a parent’s passing, understanding the timetable and your options for that money will be one less thing to worry about.

Having a plan in place can make a difficult time a little easier—let’s set up a time to talk.

04/09/2025

Getting a tax refund can feel like a financial win—it’s a nice lump sum you can use to pay down debt, add to your savings, or treat yourself to a big purchase. For many people, it acts like a form of forced savings that provides a welcome boost.

But there’s a flip side: a refund usually means you overpaid on taxes during the year. In other words, you gave the government an interest-free loan. That money could have been in your pocket all along—helping with monthly expenses, boosting cash flow, or even growing in an investment account.

A refund isn’t necessarily a bad thing, but it might be a sign it’s time to review your withholdings and make sure they align with your overall financial goals.

More on how to make the changes you need to avoid overpaying your taxes:

Some people love it when they get a tax refund. But in reality, a refund means you overpaid your taxes. If you had broken even, you would have had more money in your wallet throughout the year.

04/03/2025

Major Retirement Plan Changes Are Coming—Are You Prepared?

Starting in 2026, the SECURE Act 2.0 will mandate that employers offering 401(k) and 403(b) plans include a Roth option for catch-up contributions. For business owners and HR professionals, this means updating payroll systems, working with plan providers, and educating employees on their new choices.

Regulatory changes can feel overwhelming, but you don’t have to manage them alone. Now is the ideal time to review your current retirement plan. There may be more cost-effective options with enhanced benefits available. 📆 Let’s connect to ensure your business is ready for what’s ahead.

02/19/2025

Are you already receiving reminder emails and calls from your accountant to submit your 2024 tax documents? Now is the perfect time to educate yourself and have a conversation with your financial professional about your personal situation.
Check out 7 effective strategies on our blog!

What does it take to minimize your tax bill, not just this year but in the years to come?

02/12/2025

Morehead City, NC, February 4, 2025 - Valley Wealth Group, headquartered in Roanoke, VA, has opened their third location in Morehead City. This expansion marks a significant milestone in the firm's ongoing commitment to providing personalized financial strategies for individuals, families, and busin...

01/21/2025

So, what does the 2025 market look like for us? I’m excited to share LPL Research’s Outlook 2025. From stocks and the economy to geopolitics and more, it delivers perspective on what could be in store for 2025.
https://www.valleywealthgroup.com/blog/outlook-2025-pragmatic-optimism-lpl-financial-research
Get the full report:https://www.valleywealthgroup.com/files/outlook-2025-digital.pdf

Looking back, 2024 clearly echoed many of the themes from 2023. By and large, the economy continued to defy expectations and surprised once again.

12/23/2024

Some of you may have more questions about the backdoor Roth IRA. Here's a link to an article on VWG's website that's more in depth. Let me know if you'd like to discuss it further.

Yes, you might be able to create a Roth individual retirement account (IRA) if you’re over the income limit. This strategy involves converting a traditional IRA to a Roth IRA. The idea, often referred to as a “backdoor Roth conversion,” is sometimes used by individuals whose incomes exceed the...

12/19/2024

2025 IRS Update Alert!
Your workplace retirement contribution limits are getting a boost.

Here's what you need to know:
Basic limit: $23,500
Age 50+ catch-up: $7,500
NEW! Ages 60-63 super catch-up: $11,250
What this means: If you're between 60-63, you could contribute up to $34,750 in 2025!

These increased limits will apply to most workplace retirement accounts, including 401(k)s, 403(b)s, and government TSPs. While IRA limits remain at $7,000 ($8,000 if you're 50+), this extra room in workplace accounts opens up new possibilities for your retirement strategy.

Just keep in mind that employers will need to opt in to offer the super catch-up provision.

12/17/2024