Market Update 1.2.25
Our Investment PerspectiveAs we pack up the holiday decor and buckle in for 2025, We have a New Year's resolution: Be more proactive.
Most investment advisors do a good job of answering client questions. Where we may come up short is in ASKING the questions that could help you think through your financial challenges and opportunities. This year, as we visit in person or virtually, let's be sure to discuss the following topics, at least briefly, to see if any apply to you:
- Are we coordinating your tax planning with your CPA? Are there outside capital gains and losses we should consider as we manage your portfolios? Do you anticipate any outside transactions in 2025 that will have tax implications?
- If you are donating to charities, are you doing so in the most tax-efficient way possible? We can help you maximize your benefits without impacting the benefit to your designated charity. In fact, some people end up donating MORE to their charities when they realize how much they are saving in taxes.
- Should you consider a 'Roth conversion', in which you move money from a pre-tax IRA to an after-tax IRA and proactively pay the income tax? It looks like income tax rates may stay low a while longer, providing an opportunity for strategic planning.
- Are you planning for something specific, such as future education expenses or retirement? Our financial planning service can help map this for you and is available to all Buffington Mohr McNeal clients.
- Are your IRA/retirement accounts and TOD (Transfer on Death) beneficiaries current? Are they coordinated with your estate plan? Let's doublecheck those when we meet and make any changes needed.
- Do you need advice related to outside retirement accounts, like your 401(k)? We are happy to provide recommendations for company retirement accounts without charging additional fees.
- Are you ready to begin transferring wealth to the next generation? We can help you establish a sustainable and effective plan, and coordinate with your CPA and/or estate planning attorney as needed.
- Is your asset allocation aligned with your risk tolerance? The stock market just finished its best two-year run in nearly thirty years, pushing many investors' equity/stock exposure higher than they realize. Let's doublecheck.
In addition, of course, we will address anything on your mind. One key aspect of working with personal investors is that they are INDIVIDUALS, and everyone's situation is different. Please us know how we can help you.