The Legacy Financial Group is seeking a Client Service Administrator to add to our growing team! We are a premier wealth management firm based in Tulsa, OK and serving clients internationally. Far beyond managing assets, we enable clients to focus on what matters most in their lives: their time, their families, their businesses, and their life goals.
The Client Service Administrator (CSA) plays a critical part in this high calling by putting our clients’ financial plans into action. The CSA collaborates daily with the team and our industry partners to ensure progress and communication with clients.
After a volatile year like 2020, there is often a manifestation of new market gurus, each claiming to have the crystal ball with which to generate huge positive returns in upcoming years. We know that statistically, a small portion of active traders will outperform within a year, but we also know that no one has been able to outperform market returns over long periods.
With the end of the year quickly approaching, there are some important financial planning measures we can take to reduce our taxes and improve our financial position. This year poses a bit of a challenge while the control of the Senate remains uncertain, but there are measures we can implement that will be beneficial no matter the change in policy.
While Tax Day has passed, the time to pay close attention to your tax return never does. You can always file an amendment and if you filed an extension you have until October 31st to make any changes.
Benjamin Graham, the father of value investing and mentor to Warren Buffett, liked to refer to “Mr. Market” as having bipolar disorder. The stock market tends to behave much more like a human being than a financial instrument. The market can be euphoric one moment and despondent the next. John Keynes, the famous economist, described the market as often being driven by “animal spirits” which could frequently seem irrational.
Unfortunately for investors, when the market starts to act erratically, it can be quite stressful. It causes people to go through similar emotional swings. We feel great when the market is up and believe all is right with the world, and then the moment the market has a down day or two, to immediately thinking we are on the verge of economic collapse.
As of my writing this, the S&P 500 is officially in “correction” territory, which means a 10% pull back from the most recent high. During these times it is beneficial to readdress some very common investing myths that will start to creep into our thoughts and emotions, potentially pushing us to make a poor decision. Below are two of the most common I see:
The Tax Cuts and jobs Act is the most sweeping tax reform measure in over 30 years. The new legislation makes fundamental changes to the Internal Revenue Code that will upend the way all taxpayers (individuals, businesses, foreign taxpayers) calculate their federal income tax liability.
Contribute to Your 401(k) or other Qualified Plans
Not only do you want to build wealth for retirement, but you also gain a tax break by contributing to your employer’s retirement plan (or Individual 401(k) if you’re self-employed). Unfortunately, there is a cap on contributions each year.