Marguerita is a Certified Financial Planner (CFP®), Chartered Retirement Planning Counselor (CRPC®), Retirement Income Certified Professional (RICP®), and a Chartered Socially Responsible Investing Counselor (CSRIC). She has been working in the financial planning industry for over 20 years and spends her days helping her clients gain clarity, confidence, and control over their financial lives.
Planning for the future can be a stressful and challenging process. There are so many events and deadlines to keep track of, and when it comes to personal finances, missing an important date could cost you. To add a little sanity to your life, we created a calendar with all the essential personal financial dates of 2022.
The Investopedia 2022 Personal Finance Calendar lists monthly and other market-moving events, tax deadlines, holidays, and other important dates. Whether you're a novice investor or just trying to save as much money as possible, it's worth comparing your calendar of birthdays, anniversaries, and personal events such as weddings to our list of key dates to ensure you won't miss out on anything that might impact your finances.
Residents and business owners in Louisiana and parts of Mississippi, New York, and New Jersey were granted extensions on their deadlines for filings and payments to the IRS due to Hurricane Ida. Due to the December 2021 tornado outbreak, taxpayers in parts of Kentucky were also granted extensions. You can consult IRS disaster relief announcements to determine your eligibility.
If 2021 proved anything, it's that you can't prepare for everything. The COVID-19 pandemic hit with little to no warning, and its financial effects have been devastating for many.
That’s why it’s essential to plan for what you can, and we already have a fairly good idea of what to expect in 2022. Though many people’s financial plans have been upended by the coronavirus, this year may offer a chance to start getting back on track.
Having a comprehensive personal finance calendar is a preventive measure. In addition to letting you keep track of the days when you might be able to save money, its most crucial function is preventing you from spending more than you have to.
For example, most people don't love to pay their taxes, but doing so on time saves you from a late payment or late filing fee.
A calendar is also a solid budgeting tool, enabling you to plan for holiday shopping and other important expenditures.
The dates that will likely be of most significant interest to the average financial planner are the deadlines for filing taxes. In addition to Tax Day on April 15, there are several additional and alternate deadlines throughout the year that may apply to you, depending on your circumstances.
There are also changes to programs, including Social Security and retirement accounts that took effect at the beginning of the year that may affect how much you can save toward your nest egg or what kind of budget you’ll be working with during retirement.
Other dates worth looking out for are the "market movers." These are events that can have a significant impact on the stock market, positive or negative. These are worth noting if you plan to buy or sell stock.
Two of the biggest, and the easiest to plan for, are the releases of the Employment Situation report and the Federal Open Market Committee (FOMC) meetings.
The former refers to a monthly publication of statistics about the U.S. labor market, with the increase or decrease in employment and unemployment being of particular interest to investors.
The latter refers to the eight currently scheduled FOMC meetings in 2022 when the committee will determine what, if any, near-term changes to U.S. monetary policy are necessary.
Annual holidays and other major life events may also need to be considered in your personal financial plan. Some events won't set you back too much—though they are no less worth budgeting for—but others can be quite expensive. It's also worth taking note of big sale dates like Black Friday.
Most bank and stock market holidays coincide with national holidays. Hence, investors have another reason to keep an eye out for them, even if they don't celebrate the holidays in question.
As of Sept. 30, 2021, the Centers for Medicare & Medicaid Services announced that Medicare Part D coverage (prescription drugs) will cost an average of $33 per month in 2022 versus $31.47 per month in 2021. For those enrolled in a Medicare Advantage plan, the average premium in 2022 will be $19 per month, versus $21.22 in 2021.
Aside from the monthly events you should account for that are listed above, here are a few others that you may want to mark down on your calendar. These events aren't date-specific and depend on your personal circumstances.
U.S. Bureau of Labor Statistics. "Schedule of Releases for the Employment Situation."
The Federal Reserve System. "Federal Open Market Committee."
Social Security Administration. "Fact Sheet: 2022 Social Security Changes," Page 1.
Social Security Administration. "Starting Your Retirement Benefits Early."
Centers for Medicare & Medicaid Services. "2022 Medicare Parts A & B Premiums and Deductibles/2022 Medicare Part D Income-Related Monthly Adjustment Amounts."
Internal Revenue Service. "IRS Announces Changes to Retirement Plans for 2022."
Internal Revenue Service. "Tax Calendars," Page 4.
The Federal Reserve System. "Holidays Observed – K.8."
New York Stock Exchange. "Holidays & Trading Hours."
National Retail Federation. "Holiday and Seasonal Trends."
Internal Revenue Service. "Tax Calendars," Pages 4–5.
Board of Governors of the Federal Reserve System. "March."
Internal Revenue Service. "Tax Calendars," Page 5.
Internal Revenue Service. "Tax Day for Individuals Extended to May 17: Treasury, IRS Extend Filing and Payment Deadline."
Saving for College. "529 Plan Contribution Deadlines for State Tax Benefits."
Internal Revenue Service. "IRA Year-End Reminders."
Internal Revenue Service. "Publication 590-a (2020), Contributions to Individual Retirement Arrangements (IRAs): Extension."
Board of Governors of the Federal Reserve System. "April."
Board of Governors of the Federal Reserve System. "June."
Federal Student Aid. "FAFSA® Deadlines."
Internal Revenue Service. "Tax Calendars," Page 5–6.
Board of Governors of the Federal Reserve System. "July."
Internal Revenue Service. "Tax Calendars," Page 6.
Board of Governors of the Federal Reserve System. "September."
The Centers for Medicare & Medicaid Services (CMS). “CMS Releases 2022 Premiums and Cost-Sharing Information for Medicare Advantage and Prescription Drug Plans.”
Federal Student Aid. "3 FAFSA® Deadlines You Need to Know Now."
College Board. "Quick Reference Guide 2021-22," Page 5.
Medicare.gov. "Joining a Health or Drug Plan."
Board of Governors of the Federal Reserve System. "October."
HealthCare.gov. "When Can I Enroll in 2022 Marketplace Insurance?"
U.S. Small Business Administration. "SBA Initiatives."
Board of Governors of the Federal Reserve System. "December."
Internal Revenue Service. "Charitable Contribution Deductions."
Internal Revenue Service. "401(k) Plan Overview."
Congressional Research Service. "Energy Tax Provisions Expiring in 2020, 2021, 2022, and 2023 ('Tax Extenders')," Page 19.
Internal Revenue Service. "Retirement Plan and IRA Required Minimum Distributions FAQs."
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