By: Michael Allbee, CFP®, Senior Portfolio Manager “What we've got here is failure to communicate. Some men you just can't reach.” – Captain (Strother Martin) from the movie “Cool Hand Luke” Barron’s recently interviewed hedge fund giant Ray Dalio, who manages Bridgewater Associates, the world’s largest hedge fund with around $150 billion in assets. During the interview, he discussed how social...
By: Paul Horn, CFP®, CPWA®, Senior Financial Planner As we start 2022 it is important to be aware of new law changes. In California this year there is no shortage of laws with Governor Newsom signing 770 bills last year advancing the Governor’s California Comeback Plan. Below is a summary of the ones that you should be aware of: Higher Minimum Wage Starting January 1st, the minimum wage is $15...
Global equities ended the year near record highs even as the current surge in COVID-19 cases surpassed peak levels last seen since the start of the pandemic. Here are 3 things you need to know: The S&P 500 finished up +27% for 2021 hitting 70 all-time highs and completing its best three-year stretch since 1999 - “Let’s Go Crazy”!Not everyone was “Partying Like It’s 1999”. The areas of...
Withdrawals from 529 educational accounts owned by grandparents and others outside the nuclear family will soon have no impact whatsoever on federal financial aid eligibility due to new changes to the forthcoming simplified Free Application for Federal Student Aid (FAFSA). Previously, those withdrawals had to be reported two years later on the FAFSA as student income. Read here for more...
“Life truly begins only after you have put your house in order.” – Marie Kondo Marie Kondo, the tidying expert and bestselling author, encourages tidying by category (not by location) and keeping only those things that speak to the heart, and discard items that no longer spark joy. The end of the year is the perfect time to say goodbye and discard your financial clutter. The problem is many of...
Tax planning should be part of every individual investor’s financial and retirement plan. Here are 7 things to consider as you weigh potential tax moves between now and the end of the year to help you save money: 1. Defer income to next year Consider opportunities to defer income to 2022, particularly if you think you may be in a lower tax bracket then. For example, you may be able to defer a...
Do you have excess cash reserves that you won’t need for 12-months? If yes, then consider Series I savings bonds. These bonds pay a fixed rate for the life of the bond (today it is 0%), plus the annualized Consumer Price Index (CPI) inflation rate. With the interest compounded semiannually, these I Bonds will pay a total annualized interest rate of 7.12% through April 2022, well in excess of any...
Please join us in welcoming Xiaomei Huang, MBA, MS, to Benefit Financial Services Group. Xiaomei joins BFSG as a Securities & Financial Analyst. As a Securities and Financial Analyst, Xiaomei’s current responsibilities include analyzing securities using fundamental research. Prior to joining Benefit Financial Services Group, she worked in the media, and she approaches security analysis like...
You have done a great job preparing for retirement, but do you understand the risks? Timing is everything, and early market declines at retirement, particularly if they are paired with rising inflation, can significantly reduce the longevity of your retirement nest egg. Learn from Paul Horn, CFP® in this 2-minute BFSG short as he discusses the least understood risk to retirement – sequence risk...
By: Michael Allbee, CFP®, Senior Portfolio Manager Did you miss out on #GivingTuesday? You still have time to take advantage of two temporary perks for cash gifts to charities before they expire at year-end. The first perk for those that itemize deductions, allows 100% of cash gifts (including by check, credit card or debit card) to be deductible in 2021 (this also applied for 2020)....
November returns would have looked very different had the month ended at Thanksgiving, but the last three days turned global markets on a head. Here are 3 things you need to know: The gradual removal of pandemic-era monetary policy accommodation in the United States has begun with the Federal Reserve’s announcement on November 3 that it would start to scale back its bond-buying program.President...
We get it. With so much going on, it can be easy to forget taking your required minimum distribution (RMD). Failing to take the full amount of an RMD could result in a penalty tax of 50% of the difference. When do I need to take them? How much do I need to take? Can I avoid the ordinary income from the RMD? This 3-minute BFSG short with Paul Horn, CFP® gives a high-level overview of the most...
By: Thomas Steffanci, PhD, Senior Portfolio Manager The print of the monthly payroll employment number brings Wall Street cheers or anguish, filling the market airwaves with new prognostications of economic growth or stagnation. The November release was a clear example of such harrumphing. According to the Labor Department, employment rose by just 210,000, far below the consensus of a...
By: Steven L. Yamshon, Ph.D., Managing Principal Regardless, if global warming is caused by natural forces or by excess greenhouse gases, there is clear evidence that shows that global temperatures have been rising since 1850 (See Chart 1). Although climate change will cause many adverse effects on Earth, the impacts on real estate and agriculture could be most severe. Chart 1: Average...
As we approach the end of 2021, now is a good time to take a closer look to make sure you have satisfied your required minimum distributions (RMDs). Generally, RMDs must be taken by December 31 each year (Exception: RMDs are not required from an employer plan if you are still working at the company sponsoring the plan and you do not own more than 5% of the company). Failing to take the full...
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