When we have an initial conversation with a prospective client, we almost always ask about estate planning.
With 2019 winding down, it’s time for one more look to see whether there are worthwhile tax saving opportunities that you can still take advantage of before the calendar shuts the door.
As a firm, we are blessed with the clients we have. A number of them go out of their way to help support those they love. This often means helping their parents as they age, but it also includes helping their adult children. While we admire our clients’ desires to help those around them, this could pose a serious issue, maybe not immediately, but rather much further down the road.
A question that we are often asked, on a pretty regular basis, is if someone should contribute to a Traditional IRA or Roth IRA. Like most things in our industry, we have a phrase for something like this, “it depends.”
One of the reasons our clients hire us is to help make the complex world of investing easier to navigate. Sometimes it seems that those who work in financial services speak their own language. There tends to be a disconnect, or miscommunication, when we try and bring complex financial terms down to a more simple level. This is often the case with risk tolerance and risk capacity. While they sound similar, they hold very different meanings and can affect your financial plan in very different ways.
Affiance Financial is pleased to share the following article by Steven E. Warren, CPA, MBT. Mr. Warren practices accounting and consulting at Schechter Dokken Kanter, a Minneapolis CPA and consulting firm. Mr. Warren can be contacted at firstname.lastname@example.org or 612-332-9391.
Event recording from January 28, 2019.
It’s another new year, and this time you are ready. You have taken the time to create a budget and give each dollar a job. You might even be using an app to track your spending. This is going to be your most financially organized year yet! When all of a sudden, something happens. Something we call the certainty of uncertainty.