Tax Strategies

Another nail biter election

Envelope please!  And the winner is …. the investor who did not get caught up in the deafening noise of the election. The same person(s) who has a clear vision of some basics like: risk tolerance, goals and objectives, realistic income needs (and the stable sources to meet them), and some qualified guidance to monitor all the above. I concede that as a Certified Financial Planner™ Professional I may preach these basics into the ground. However, I’ve seen chaos come and go, elections contested, undeclared wars (real combat), economic cycles ride their roller coaster, etc. etc. – some basics have never changed.

It is true that some fine tuning along the way makes sense. Paying attention is absolutely necessary (or delegating that to the proverbial Trusted Advisor). For example, if you think your taxes are going up it pays to look at the after-tax returns of tax-free or tax-deferred strategies. If you own highly appreciated stocks and aren’t living off the dividends, you might make your charitable deductions with some of those shares rather than after-tax cash. Smart money management suggestions are far too numerous to list.

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