Year-End Tax Planning Playbook

The end of the year is often one of the busiest times for our advisors both professionally and personally.  Additionally in 2021, we continue to monitor pending legislation that could have a major impact on our clients.  The Build Back Better Act[1] has already passed in the House and pending vote in the Senate.  While there could be additional changes before passage, there are things to take action on now while you still have time to do so. Consider the Pros and Cons of a Roth IRA Conversion As we discussed in a recent blog, converting pre-tax IRA dollars to [...]

All in a Day’s Work

Just the other day at a social gathering, I was met with a question one might ask a financial advisor.  “Where is the market headed from here?”  I gave my usual answer: “My educated guess is up, over the long-term.”  But this time it really got me thinking.  My industry does a poor job of highlighting the real work that goes on in the trenches by financial professionals every day.  The financial industry as a whole spends a lot of time and money developing market forecasts, and creating loads of investment products and research.  This can result in those that [...]

Don’t Get Too Comfortable

Regardless of if you are a recent graduate, mid-career professional, approaching or in retirement I would offer the same advice for life: “Don’t get too comfortable.”  My experience has shown that the most rewarding and beneficial experiences I have been through were born from me getting out of my comfort zone.  Getting into a rut is easy (easier still if you have been working from home, or not able to travel and seek new experiences the way you would choose to.)  Getting out of one can seem close to impossible if you don’t have those that push you to learn [...]

Don’t Fall Victim to the Next Bernie Madoff

Bernie Madoff, who swindled thousands of investors to the tune of over $10 billion by way of his infamous Ponzi Scheme, passed away last week while serving a 150-year prison sentence. [1]  While Madoff has become known as one of history’s most notorious fraudsters, he had been well respected within the financial industry even serving as chairman of the Nasdaq exchange.  He was able to use his esteemed reputation as a financier, and leverage some common behavioral biases to fool his victims.  I will share with you some tips to avoid becoming victim to investment scams and avoid costly mistakes [...]

A Closer Look at Roth IRAs

With renewed concerns over higher future tax rates, Roth IRAs are being given a closer look by many investors.  As the tax code can be a landmine to navigate, there are a number of traps to avoid with regards to Roth IRAs.  We take a closer look at some strategies to get additional funds into a Roth IRA even if you are retired or believe your income is too high as well as the considerations you should make to maximize your tax-free growth potential. Would you rather pay taxes on the seeds or the harvest? Perhaps the single biggest decision [...]

Fine-Tune Your Taxes for 2020 and Beyond

While the The Coronavirus Aid, Relief, and Economic Security Act (aka the CARES Act) did postpone the deadline for tax filing from April 15th to July 15th, those taxes will soon become due.  For those that may be feeling the pinch from Uncle Sam, we will share 4 strategies you can start implementing now to fine-tune your taxes for 2020 and beyond.  Suspend Required Minimum Distributions (RMD) for 2020 One form of relief for retirees that was part of the CARES Act allowed retirees to skip their RMD for this year.  For those that have inherited retirement accounts or surpassed [...]

Does it Pay to “Sell in May?”

It is human nature to try to make sense of the unknown. In this time of great uncertainty, it is not surprising that some investors may be tempted to try to use perceived market patterns or indicators to their advantage.  This can take the form of trying to “time the market”, by attempting to make short-term predictions on the direction of prices and investing accordingly.  One such timing strategy that continues to get attention is based upon the adage “Sell in May and Go Away”.  We will take a closer look to see if market timing is likely to payoff.  [...]

5 Ways to Manage Cabin Fever

  During this current period of isolation and shared sacrifice, it is important to remember what we can do to avoid cabin fever and stay connected with our friends, family and community.  Below are 5 ways to avoid the cabin fever blues when they start creeping in. In the digital age, we have gotten far too accustomed to keeping up with friends and family via text and social media.  Now is the time to re-connect the old fashioned way.  Just hearing the voice of a friend or family member can make a world of difference for those feeling the most [...]

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