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When it comes to investing, emotion is not your friend. In times of economic crises, emotional reactions can impact and endanger financial decisions (Figure 1). Investors tend to fluctuate between the poles of greed and fear. Right now is a time of heightened fear. The fear about our collective health is real. We have real control over how we follow personal hygiene, social distancing, and other guidelines. However, the control each of us has on the economy and, by proxy, the stock market is negligible.
There is an old saying that the stock market has correctly predicted ten out of the last two recessions. With the stock market opening down today after falling into correction territory yesterday, this saying has never been more timely.
It’s politics season, which means your Facebook, tv, and radio will be filled with mudslinging political ads. While these may spark worry or concern, don’t let them muddy up the long-term outlook of your investment portfolio. Many fear that presidential elections can bring about undesirable changes to taxes, regulations, government spending, and debt. The truth […]
Entrepreneurs face many challenges, and perhaps the most difficult of them all is managing growth. One way to keep pushing forward is through building a cohesive team of professionals and experts that can advise you and protect your business from various pitfalls as it grows. By having them onboard, you’re given the freedom to focus […]
Recently, Redfin asked our advisors to think of creative solutions to help first-time homebuyers save for their down payment. Visit the Redfin blog to hear what our very own advisor Angela Smith, CFP®, had to say as well as tips from other experts. As a bonus, here are two additional tips from our advisors on how to save […]
Utilizing his tax background and years of sharing financial concepts and strategies with clients, Rick started his own firm, Durbin Bennett, in 1987. While many are daunted by the complexities of investing and finance, Rick understood these concepts could be broken down into simpler parts and better communicated to clients.
With several individual retirement account (IRA) options available to investors, it’s important to understand how each IRA works and which is most appropriate for you. In this piece, we’re going to dive into the Backdoor Roth IRA conversion.
For an entrepreneur, a liquidity event can be rewarding both financially and emotionally. However, when the tax bill associated with this emotional and financial high comes due, reality swiftly grounds you. For certain business owners anticipating a sale in the near future, we feel it is important for them to be aware of a special section of the tax code that can result in significant tax savings.
If you are interested in investing in an Opportunity Zone, you should consider weighing the benefits and risks. In our previous blog post, we shared some basic information regarding Opportunity Zones and how they work.