Aimee Hultzapple, Author at LeTort Trust

Financial Literacy Month: Fact: Did You Know?

Posted on April 30, 2025

The Rule of 72 is a simple way to estimate how long it will take for your investment to double. Just divide 72 by your annual return rate.

Fact!

It’s simple math—but the lesson is big: the sooner you start, the more time compounding has to work for you.

For example, with a 6% return, your money doubles every 12 years (e.g., 72 ÷ 6 = 12 years for a 6% return).
If you invest $20,000 at age 25, it could grow to roughly $160,000 by age 61 (doubling 3 times). But if you wait until age 37, that same $20,000 will grow to around $80,000 by 61.

You don’t need to time the market. You need time in the market.

LeTort Trust does not provide tax or legal advice. The information presented here is not specific to any individual’s personal circumstances. To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances. These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable—we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.

Financial Literacy Month: Fact or Myth? Financial Literacy skills should be taught at a young age.

Posted on April 25, 2025

Financial literacy is a lifelong skill that benefits people of all ages, not just adults.

Fact!

Kids and teens make financial decisions too. From saving allowance money to understanding the cost of wants vs. needs, early financial habits shape future money management skills.
Young adults face major financial choices. College loans, credit cards, and first jobs require knowledge of budgeting, debt management, and investing.
Financial habits start early. Studies show that financial behaviors are often set by age seven, making early education critical for long-term success.
Without financial literacy, young people are more vulnerable. Poor money management can lead to high debt, financial stress, and difficulty building wealth later in life.

LeTort Trust does not provide tax or legal advice. The information presented here is not specific to any individual’s personal circumstances. To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances. These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable—we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.

Financial Literacy Month: Fact or Myth? Spreading your investments across different accounts or advisors means you’re automatically diversified.

Posted on April 17, 2025

Fact or Myth? Spreading your investments across different accounts or advisors means you’re automatically diversified.

Myth!

Simply using different platforms or advisors doesn’t guarantee diversification. Each account or advisor is likely managing a separate portfolio and may be unaware of the others. This can result in overexposure to certain investments, like holding too many stocks in the same sector or asset class. Even if each portfolio looks balanced on its own, you could end up with two or more portfolios that seem well diversified, but when you combine them, you might find you’re overexposed in one category or another. True diversification requires careful planning across all your accounts, ensuring that each portfolio is aligned with your overall financial goals and risk tolerance. Regular check-ups and rebalancing are essential to maintaining a truly diversified portfolio.

LeTort Trust does not provide tax or legal advice. The information presented here is not specific to any individual’s personal circumstances. To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances. These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable—we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.

LeTort Trust Announces the Appointment of Jennifer Sensky Client Concierge

Posted on February 14, 2025

Mechanicsburg, PA (February 14, 2025) – LeTort Trust is excited to announce that Jennifer Sensky has joined our Operations Team as Client Concierge.

Jenn plays a pivotal role in creating a welcoming environment for our clients, partners, and team members. She manages front office operations and is the point of contact for clients needing assistance. Prior to joining LeTort Trust, she worked as the Marketing Coordinator at Messiah Lifeways.

“We are delighted to welcome Jennifer to the team. Her diverse experience and client-focused approach align perfectly with LeTort’s commitment to exceptional service. We look forward to the positive impact she will have in enhancing the client experience and strengthening our operational excellence,” said Greg Campbell, Director of Operations.

LeTort Trust is an Independent Trust Company, providing comprehensive Qualified Retirement Plan, Personal Trust and Wealth Management services designed for the complex financial needs of businesses, institutions, and individuals.

LeTort Trust Promotes Patricia Lauchle to Chief Financial Officer

Posted on November 5, 2024

Mechanicsburg, Pennsylvania (November 05, 2024) – LeTort Trust, an independent trust company providing Qualified Retirement Plan Management and Family Wealth Management services, is excited to announce the promotion of Patricia Lauchle to Chief Financial Officer (CFO), effective November 1, 2024.

Patricia joined LeTort Trust in 2019 as Personal Trust and Tax Officer, immediately making significant contributions to the financial management and strategic direction of the business and earning a quick promotion to the position of Controller/Tax Operations Manager. During the time in that role and with over 15 years of experience and nearly a decade in public accounting, Patricia has been instrumental in overseeing the tax reporting processes and compliance for LeTort Trust and for our clients. Her commitment to excellence and deep understanding of the financial landscape of our business have made her an indispensable part of our leadership team.

“Patricia’s promotion to the CFO position is a recognition of her exceptional leadership and the integral contribution she has made to the financial management and regulatory oversight of our business.” said Katie Clarke, President of LeTort Trust. “Patricia has acclimated quickly to our unique structure and has developed into a pivotal member of our team” said Dan Eichelberger, CFA CFP

Patricia holds a Bachelor of Science in Accounting from Penn State University, is a licensed CPA, and maintains active memberships with the Pennsylvania Institute of Certified Public Accountants (PICPA) and the American Institute of Certified Public Accountants (AICPA). She is an alumna of the Leadership Harrisburg Area (LHA) program and was honored with the Young Leader Award by the Pennsylvania Institute of Certified Public Accountants (PICPA). Passionate about numbers, she balances her professional accomplishments with quality time with family and friends, embracing opportunities for outdoor adventures and competitive activities. Committed to community service, she dedicates her time and expertise to several local nonprofit committees, serves as Treasurer of the LeTort Trust Foundation, and volunteers with Junior Achievement.

About LeTort Trust
LeTort Trust is a private trust company, providing comprehensive Qualified Retirement Plan and Wealth Management services designed for complex financial needs of businesses and individuals. For additional information on LeTort Trust or LeTort Trust Foundation, please visit our website at www.letorttrust.com.

401(k) limit increases to $23,500 for 2025, IRA limit remains $7,000

Posted on November 1, 2024

IR-2024-285, Nov. 1, 2024

WASHINGTON — The Internal Revenue Service announced today that the amount individuals can contribute to their 401(k) plans in 2025 has increased to $23,500, up from $23,000 for 2024.

The IRS today also issued technical guidance regarding all cost‑of‑living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2025 in Notice 2024-80 PDF, posted today on IRS.gov.

Highlights of changes for 2025

The annual contribution limit for employees who participate in 401(k), 403(b), governmental 457 plans, and the federal government’s Thrift Savings Plan is increased to $23,500, up from $23,000.

The limit on annual contributions to an IRA remains $7,000. The IRA catch‑up contribution limit for individuals aged 50 and over was amended under the SECURE 2.0 Act of 2022 (SECURE 2.0) to include an annual cost‑of‑living adjustment but remains $1,000 for 2025.

The catch-up contribution limit that generally applies for employees aged 50 and over who participate in most 401(k), 403(b), governmental 457 plans, and the federal government’s Thrift Savings Plan remains $7,500 for 2025. Therefore, participants in most 401(k), 403(b), governmental 457 plans and the federal government’s Thrift Savings Plan who are 50 and older generally can contribute up to $31,000 each year, starting in 2025. Under a change made in SECURE 2.0, a higher catch-up contribution limit applies for employees aged 60, 61, 62 and 63 who participate in these plans. For 2025, this higher catch-up contribution limit is $11,250 instead of $7,500.

The income ranges for determining eligibility to make deductible contributions to traditional Individual Retirement Arrangements (IRAs), to contribute to Roth IRAs and to claim the Saver’s Credit all increased for 2025.

Taxpayers can deduct contributions to a traditional IRA if they meet certain conditions. If during the year either the taxpayer or the taxpayer’s spouse was covered by a retirement plan at work, the deduction may be reduced, or phased out, until it is eliminated, depending on filing status and income. (If neither the taxpayer nor the spouse is covered by a retirement plan at work, the phase-outs of the deduction do not apply.) Here are the phase‑out ranges for 2025:

For single taxpayers covered by a workplace retirement plan, the phase-out range is increased to between $79,000 and $89,000, up from between $77,000 and $87,000.
For married couples filing jointly, if the spouse making the IRA contribution is covered by a workplace retirement plan, the phase-out range is increased to between $126,000 and $146,000, up from between $123,000 and $143,000.
For an IRA contributor who is not covered by a workplace retirement plan and is married to someone who is covered, the phase-out range is increased to between $236,000 and $246,000, up from between $230,000 and $240,000.
For a married individual filing a separate return who is covered by a workplace retirement plan, the phase-out range is not subject to an annual cost-of-living adjustment and remains between $0 and $10,000.
The income phase-out range for taxpayers making contributions to a Roth IRA is increased to between $150,000 and $165,000 for singles and heads of household, up from between $146,000 and $161,000. For married couples filing jointly, the income phase-out range is increased to between $236,000 and $246,000, up from between $230,000 and $240,000. The phase-out range for a married individual filing a separate return who makes contributions to a Roth IRA is not subject to an annual cost-of-living adjustment and remains between $0 and $10,000.
The income limit for the Saver’s Credit (also known as the Retirement Savings Contributions Credit) for low- and moderate-income workers is $79,000 for married couples filing jointly, up from $76,500; $59,250 for heads of household, up from $57,375; and $39,500 for singles and married individuals filing separately, up from $38,250.
The amount individuals can generally contribute to their SIMPLE retirement accounts is increased to $16,500, up from $16,000. Pursuant to a change made in SECURE 2.0, individuals can contribute a higher amount to certain applicable SIMPLE retirement accounts. For 2025, this higher amount remains $17,600.
The catch-up contribution limit that generally applies for employees aged 50 and over who participate in most SIMPLE plans remains $3,500 for 2025. Under a change made in SECURE 2.0, a different catch-up limit applies for employees aged 50 and over who participate in certain applicable SIMPLE plans. For 2025, this limit remains $3,850. Under a change made in SECURE 2.0, a higher catch-up contribution limit applies for employees aged 60, 61, 62 and 63 who participate in SIMPLE plans. For 2025, this higher catch-up contribution limit is $5,250.

Details on these and other retirement-related cost-of-living adjustments for 2025 are in Notice 2024-80 PDF, available on IRS.gov.