Managing the many aspects of your wealth can be complicated. As your Private CFO, we address every facet of your financial life in an integrated, personal way.
I will tell you how to become rich. Close the doors. Be fearful when others are greedy. Be greedy when others are fearful.
— Warren Buffett
In investing, what is comfortable is rarely profitable.
— Robert Arnott
Bull markets are born on pessimism, grow on skepticism, mature on optimism, and die on euphoria. The time of maximum pessimism is the best time to buy, and the time of maximum optimism is the best time to sell.
— Sir John Templeton
Your success in investing will depend in part on your character and guts, and in part on your ability to realize at the height of the ebullience and the depth of despair alike that this too shall pass.
— John Bogle
You make most of your money in a bear market, you just don’t realize it at the time.
— Shelby Cullom Davis
If you watch a basketball game and at the end of the game the score is 105 to 95, no one says, wait a second, in the third quarter, you lost 28 to 18. What was the story in the third quarter?
— Peter Lynch
The stock market is filled with individuals who know the price of everything, but the value of nothing.
— Philip Fisher
There are two kinds of losses. A loss of capital and a loss of opportunity; but there will always be another opportunity if you protect capital.
— Louise Yamada
Investing should be more like watching paint dry or watching grass grow. If you want excitement, take $800 and go to Las Vegas.
We are one year into SECURE Act 2.0 (Act or 2.0), passed at the end of December 2022, and the opportunities and confusion continues. With more than 90 provisions that are being phased in over the next 10 years, It’s important to review the newly effective provisions at the beginning of each year.
The Internal Revenue Service announced last year the annual inflation adjustments for more than 60 tax provisions (63 to be exact) for the tax year 2024, including the tax rate schedules. As incorporated into law, the IRS adjusts various categories to account for inflation. It’s not a perfect measure, but the adjustments help mitigate the impact of inflation on income. Without indexing, a cost-of-living raise, for example, could automatically push you into a higher tax bracket or reduce the value of your standard deduction. Annual inflation adjustments, however, do not cover all tax provisions. We won’t cover each of the 63 changes. We will touch on the high points. If you have questions, please reach out to us. As always, if you have specific tax questions, feel free to check with your tax advisor.
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