Tax-Loss Harvesting: Making Lemonade out of Lemons
Like kingdoms, tides and my teenage daughter's emotions, the stock market rises and falls. Although market downturns are inevitable and expected, they are never pleasant to experience. On the bright side, these dips present an opportunity to make the proverbial lemonade out of lemons by allowing Uncle Sam to share the pain. This is accomplished through a process called tax-loss harvesting. I will break down this strategy into the three “P”s: principle, process and payoff.
Midterm elections are just a few months away. This can mean only one thing … a flurry of political ads interrupting your favorite television shows. All jokes aside, you can also expect to see plenty of platforms built around the President's handling of the pandemic, the response to Russia's invasion of Ukraine and our current economic landscape.
How an Advisor Helps His Daughter Search for Her Dream College
I feel like the surgeon who is operating on his own child. Well, not exactly. Let me explain. I'm not a surgeon. I'm a wealth advisor, specializing in the financial aspects of college planning. And fortunately, my daughter is not on the operating table. She's a high school junior, currently scouting colleges.
Rhonda Maassen joins Northwest Bank as Wealth Client Service Specialist in Spencer
Alex Johnson, Wealth Advisor at Northwest Wealth Management is pleased to announce Rhonda Maassen has accepted the position as Client Service Specialist in Spencer. Rhonda joins Alex Johnson who each began at Northwest in early February.
Every year, the market gifts us invaluable lessons on investment strategies. While each year is different, many of these lessons are reinforced or repeated year after year; that's why one of my favorite sayings is that there's nothing new in investing, only investment history you don't know. Before you read the 10 lessons 2021 taught us, I want you to remember one important takeaway: When investing, imitate the lowly postage stamp. This small object does one thing but does it well – sticking to its letter until it reaches its destination. My greatest hope is that you stick to a plan until you have reached your financial goals! Now to my top 10 lessons learned in 2021….
With the recent uptick in market volatility and the poor start to the year for the U.S. stock market, I wanted to reiterate three time-tested principles that I believe are as relevant now as they have been over the modern history of financial markets.
Guided by evidence and fueled by your ambitions, your team is dedicated to creating a wealth strategy distinctly tailored to each individual client's needs. Before 2021 ends, be sure to check out our list of seven money-saving actions that may help you maintain the greatest amount of after-tax wealth. As always, talk to your advisor to discuss how these could impact your unique situation.
Imagine that, in the foreseeable future, you'll have turned in all your company property, collected your final paycheck, and will be drinking a hurricane at half past noon while chair-dancing to “It's Five O'clock Somewhere.” You've planned on reaching that celebratory beach vacation over the many years of your career while also designing, building and protecting your financial life. By 65 you have diligently accumulated the wealth you need to retire. You've won the game, earning satisfaction and congratulations for completing a solid plan. Other than tee times, volunteer activities or family trips, there isn't much planning left to do, is there?
