Estate planning involves organizing your personal and financial documents in order to deal with the possibility of health consequences, mental incapacity and death. By organizing these important papers, you can help your family get through challenging times and properly distribute your personal belongings. As a Los Angeles fee-only financial planner, here are the estate planning documents needed to build and review your estate plan.
As a Los Angeles fee-only financial planner, I am focused on making sure my clients are prepared financially for 2019. According to a Fidelity Investments Study, one in three Americans plan to make a financial New Year’s resolution for 2019. With an 18% increase from the 2018 study, Americans are getting serious about improving their overall financial picture. Whether you are living in Los Angeles, CA or Austin, TX, here are six financial New Year’s resolutions from a Los Angeles financial planner to give you more peace of mind in the new year.
As a Los Angeles financial advisor, I can confirm I’ve never spoke with anyone that gets excited about losing money from their investments. However, markets don’t go straight up. Recognizing losses from tax-loss harvesting creates tax benefits that can help your overall financial picture. In the short-term, market volatility produces opportunities to recognize investment losses. A diversified portfolio won’t have as many opportunities to recognize investment losses with a long-term time horizon. How do investors maintain their overall portfolio while recognizing losses?
Not only can charitable giving be gratifying to give back to personal causes, it can also be a way to minimize downside risk within a portfolio and limit taxes. The Tax Cut Jobs Act of 2017 changed the landscape for taxes by nearly doubling the standard deduction and hurting the impact of itemizing deductions through charitable giving. With the new tax code in place, there are still ways to give back and find the best tax strategy for your situation. No matter if you’re in Los Angeles or anywhere in the US, what is the most efficient way to give back?
Before analyzing how often investors should rebalance, it’s important to determine the significance of why one should consider rebalancing. As a fee-only financial planner in the Austin, TX metro area, not understanding the importance of rebalancing is where I see many investors go wrong.
