Politics and Your Portfolio: Why Diversification is Your Best Defense
In the wake of U.S. elections, emotions often run high — especially when it comes to how political outcomes might affect financial markets. Financial Planning magazine asked 320 advisors “how will the US election outcome influence your retirement plan?” A staggering 90% anticipated a negative impact on their clients’ portfolios. This survey was from 2016, […]
Kick-Start Your Child’s Retirement Savings by Rolling Over Unused NYS 529 Plan Assets
With college costs increasing at a rate greater than inflation, investing within a 529 plan offers participants the opportunity to keep up with rising education expenses with some immediate tax savings upon funding. Since there are many unknown factors as to how much your child’s future education expenses will cost, it can be difficult to […]
Leveraging Investments for Charitable Donations
Utilizing investment assets to fund charitable contributions allows investors to maximize their donations while simultaneously receiving a greater tax benefit. Consider implementing the following strategies prior to the end of the year to elevate your charitable giving for 2024: Qualified Charitable Distributions(QCDs): A Qualified Charitable Distribution (QCD) is a direct transfer of funds from an […]
Corporate Transparency Act – Filing Requirement
The Corporate Transparency Act requires small and medium sized businesses created by filing paperwork with a Secretary of State (Corporations, LLCs, LLPs etc) to report identifying information by 12/31/2024 to the Financial Crimes Enforcement Network (FinCEN). Some exceptions include charities or companies with 20 or more employees, and $5M in annual revenue. New Filing Obligations […]
Year-End Tax Planning
While tax season is still several months away, year-end will be here before we know it. With that in mind, it’s important to make sure you’re taking advantage of the tax-planning strategies that make sense for your unique situation. Here’s a short list of topics we’ll be discussing with our clients over the next few […]
Making the Case for International Exposure
“Why would I invest in anything other than the S&P 500 if it continues to do so well?” This is a question that is commonly asked by many of our clients over the past few years. To truly optimize your portfolio and ensure you’re not missing out on potential opportunities, it’s crucial to understand the […]
New Options for SUNY ORP at TIAA
Starting July 23, 2024, TIAA is offering a new lifecycle fund program and an investment option for the SUNY Optional Retirement Program. SUNY Targeted Allocation Retirement Series (STARS) The STARS program is a hands-free approach that utilizes a combination of investment options to arrive at an allocation based on the participant’s projected retirement date. STARS […]
Revisiting I-Bonds
I-Bonds were a fantastic investment opportunity in 2022 as inflation rates were the highest we had seen in decades. I-Bonds purchased from May 1st through October 31st of 2022 earned a return of 9.62% (annualized) for the first six months. Since then, rates on I-Bonds purchased during that period in 2022 have been much more […]
Inherited IRAs – IRS Issues Final Regulations
Prior to 2019, most beneficiaries of Inherited IRAs could stretch out Required Minimum Distributions (RMDs) over their lifetime. However, the first SECURE Act eliminated this benefit and required that most non-spouse beneficiaries empty inherited accounts within 10 years. This change led to considerable confusion, most notably, whether annual RMDs were necessary during this 10-year period. […]
How to Improve your Credit Score
Your credit score is more than just a number; it’s a critical component of your financial picture. A high credit score can unlock lower interest rates on loans, better credit card offers, and even impact your ability to rent an apartment or acquire a motor vehicle. Here are some actionable steps to take if you’re […]