You’ve likely been keeping a close eye on the news as the crisis in Ukraine continues to escalate. Above all, our thoughts go out to the Ukrainian military and citizens as they navigate this unfathomable tragedy. Aside from the terrible human toll, the recent invasion of Ukraine by Russia is an important reminder that geopolitical risk is a part of investing in global markets. While external ... Read More
Personal Finances
Having a Financial Plan Can Help You Save for Your Long Term Goals
Whether you are saving for retirement, establishing a college fund for your kids or beefing up your emergency reserves, it pays to have the help of an expert. Having a financial planner in your corner can increase your knowledge, boost your returns and allow you to establish a financial portfolio that makes sense for you and your family. And having a financial plan can help you save for your ... Read More
How to Legally Avoid Taxes When Selling Investment Real Estate
Over the nearly thirty years of practice in financial planning and banking, I have been approached by many clients seeking to avoid paying taxes on highly appreciated real estate investments. There are a few options available to investors and some are better than others. It all depends on the facts presented and the goals of the client. In other posts, I've spoken about some alternative ... Read More
Can I Afford to Retire?
Back in 1981, I was in high school and remember rocking out to Loverboy's "Working for the Weekend". Flash forward a couple or three decades and now I'm working with clients who are "working for retirement," the ultimate weekend. And folks from all walks of life will ask: Can I afford to retire? So, no surprise when I was asked by someone who we'll call Jerry who just turned 59 1/2, "Can I ... Read More
Two Ways to Avoid Capital Gains Taxes on Sale of Rental Property
There may come a time when you want to sell your rental property. After putting in all the time dealing with toilets, tenants, and trash, you're looking to cash in and relax. But there's one problem: Taxes. Despite common wisdom, you may be able to avoid them. While death is inevitable, there actually are two ways to avoid capital gains taxes on the sale of rental property. ... Read More
Where Do I Invest When I Have “Enough”?
Let's face it. We all dream about it from time to time. If you were in the enviable position of having no debts (or just a mortgage), a big cushion of cash reserves, and have maxed out your retirement savings, what would you do with leftover money each month? Or how would you handle a lump sum like a tax refund, bonus, or inheritance? Where do I invest when I have "enough"? In a prior blog post I ... Read More
2018 Car Buying Trends and Tips
As we approach President's Day, you may be thinking about buying or leasing a new car. President's Day weekend is traditionally considered a good time to get a deal on a car. Before you go shopping you should be prepared. Here are some 2018 car buying trends and tips to consider from a recent post in WalletHub by senior writer John Kiernan where I was recently quoted. On a scale of 1 (an ... Read More
If My Bitcoin Investment Climbs, What Will I Pay in Taxes?
Investment styles may come and go but the taxman will always be there ready to share in your wealth. As Bitcoin and other block chain investments have attracted lots of attention, there is an inevitable question I get during tax season: If my Bitcoin investment climbs, what will I pay in taxes? Bitcoin has been around since 2009. Before 2011, Bitcoin value bounced around in the spare change ... Read More
Should You Borrow to Invest in Dividend-Paying Stocks?
Recently, I received a question from a prospective investor: Should you borrow to invest in dividend-paying stocks? As a professional with a clear bias for dividend-paying stocks, I'm always happy when someone shares my investment approach. But sometimes investors can get carried away. Should You Borrow to Invest in Dividend-Paying Stocks? With a seemingly never-ending climb of stock market ... Read More
What Credit Score Do You Need to Co-Sign a Loan?
Buying a home is likely the biggest investment for many. Getting a loan can be a stressful experience. And co-signing for a loan can be a big decision. Before signing on the dotted line, what credit score do you need to co-sign a loan? Things are a bit more complicated when it comes to mortgage loans now than it was when I first was a mortgage banker back in the mid-1980s. While the basic rules ... Read More
