Official Newspaper of Eddy County since 1883
Official Newspaper of Eddy County since 1883
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One of the top questions I receive as a financial advisor is, “What exactly do you do and how can you help someone like me?” If you’ve ever wondered the same thing, you’re not alone. The answer I give when I meet new people is this: Financial advisors are committed to helping individuals and families set and reach their financial goals. Advisors provide value beyond investment strategies and financial advice; they are there to help clients feel more financially confident for the expected and unexpected moments of life. Here are some specifi...
As an investor, one way you can enhance your long-term retirement security is to fully leverage the potential of tax-advantaged retirement savings vehicles. Each year, the IRS releases new guidelines on the amount of money you can contribute to these accounts. New contribution limits in 2024 allow you to save even more this year through plans such as 401(k)s, 403(b)s and IRAs. Changes to workplace savings limits Contribution limits for workplace retirement accounts have been raised by $500 for the year 2024. In 2024, the IRS allows pre-tax...
For many Americans, the start of a New Year is the time they find out if they received a year-end bonus. If you are anticipating one, take some time to think about how you want to use this hard-earned money. Consider the ideas below before the money hits your bank account. Supplement your investment contributions. Consider applying your bonus to an employer-sponsored 401(k), up to the maximum allowable amount. Take advantage of your employer match, if applicable. Alternately, since it’s also wise to diversify your investment dollars, you could...
Talking with clients about the legacy they wish to leave behind is an essential part of my job as a financial advisor. How do they want to share their wealth with loved ones and charities that matter to them? What values do they want to pass down and what financial goals do they want to support for their children and grandchildren? How can they transfer their assets in a tax-efficient and planful manner? These are some of the many questions we cover in the course of these conversations. If you find yourself asking similar questions about your...
Everyone has heard the terms “will” and “trust,” but not everyone knows the differences between the two. Wills and trusts are important tools of estate planning. Each has strengths and limitations. Here’s what to know as you determine what’s best for you and your estate plan. A will is a legal document that helps ensure your assets are distributed according to your wishes. A will can accomplish four things, to occur upon death: 1. Assign someone to oversee your estate. 2. Name the personal guardian who will care for your minor children a...
During times of market volatility like we've seen since the start of 2022, it's natural to feel a bit skittish about the stock market. It's a potent reminder that there are risks to stock ownership. Individual stocks are not guaranteed to grow and may lose value. The good news is that the stock market has historically delivered a higher rate of return than other forms of investment in the same timeframe. With this in mind, there are strategies you can deploy to help insulate your portfolio from the natural up-and-down swings of the market, w...
