Greetings!
Hi folks! Hope all is well and everyone is enjoying life. Kelly and I spent a few days in Dallas, TX last month at a financial planning conference with some of the top advisors in the country. Executives from some of the top insurance companies and financial institutions we work with were there to bring us up to speed on what's happening in the financial services industry and what we need to be aware of in the near future. As always, it was very educational. It's always interesting to go "behind the curtain", as they say, to learn whatever we can to help our clients plan for the future. It's amazing the different perspective you get when speaking with leaders of very important financial companies one-on-one. I feel very fortunate to be able to consult with these talented individuals. The financial planning world is ever changing, and learning new strategies has become more and more important to secure your financial future, especially when "income planning" is involved. Planning as though the 1980's or 1990's are coming back is very dangerous! That was the common theme throughout the conference. Market volatility is here to stay, and one must plan accordingly. Enjoy this month's articles. We've updated our website with some pretty cool stuff also. I'd encourage everyone to visit our site. As always, if anyone wants any of our free reports or a free 2nd opinion, just give us a call or shoot us an email. All the best,  James D. Stillman |
Start 2013 With These Important Plan Reviews
Lake Norman Magazine, February 2013
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Now that the New Year has started and the holidays are well behind us, I thought I'd discuss a few things we think are important to review when starting a new year. Last month, we discussed the differences in financial advisors (accumulation focused vs. preservation & distribution focused) and how to find the right "financial coach" for your particular needs.
I'm a firm believer that your age, whether or not you're retired, your income needs, and your tolerance for risk should determine what type of advisor you work with. There are very few financial advisors that are equipped to handle all people, all of the time, regardless of their age. I'm sure you've heard the phrase "Jack of all trades and master of none". Remember, the advisor that got you to retirement may not be the best advisor to get you through retirement.
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The Fiscal Cliff
GFPC Thought for the Week (235)
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Following numerous requests, this week's Thought summarizes the tax related measures which resulted from the eleventh hour Fiscal Cliff agreement. These new laws are detailed in Senate Amendment to H.R. 8 and are collectively called The American Taxpayer Relief Act of 2012.
We now await the political brinkmanship associated with the negotiations to raise the U.S. Debt Ceiling.
Two New Taxes for 2013
Two new taxes go into effect starting January 1, 2013:
1. A 3.8% Net Investment Income Tax (NIIT) applies to individuals, estates and trusts that have unearned investment income above certain threshold amounts. Net Investment Income for the purpose of calculating this tax includes interest, dividends, capital gains, rental and royalty income, non-qualified annuities, income from businesses involved in trading of financial instruments or commodities and pass-through income from a passive business. The NIIT does not apply to municipal bond income...
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Earnings Season
GFPC Thought for the Week (236)
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*Now that political and economic uncertainty has receded, what might drive financial markets in 2013?
*Sentimental factors are historically misleading to investors who look to "buy low and sell high."
*Economic Fundamentals drive the financial prospects and credit worthiness of individual organizations; this in turn drives the long-term price of market indices such as the S&P 500.
*All the information contained within earnings announcements is probably THE most fundamental of all fundamentals.
Read more...
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