When the market was in the midst of an 11-year bull run, you may have increased your investments in equities. By contrast, if you were recently burned by market performance, you may be hesitant about increasing your investments. Investment decisions should be based on your individual goals, time horizon, and risk tolerance.
This could be an opportune time to consider transferring wealth to future generations—by transferring assets (at lower values) and taking advantage of historically low interest rates. As the world continues to face these unprecedented times, we at Fairman Group Family Office want you to know that we are available to help you with all your financial planning needs.
Taxes may be the last thing on people’s minds these days; however, the extended tax-filing deadline of July 15th is near. Note that the three-month extension to file federal and most state tax returns also applies to estimated tax payments.
The CARES Act offers some unique retirement planning opportunities relative to RMDs. If you do not need to make a withdrawal to fund cash flow this year, you can avoid an extra tax liability by not taking a distribution—or avoid selling retirement account assets that may be down. And, if you have already taken a distribution in 2020, there may still be time to unwind the transaction.
Investment advisory services are offered through The Fairman Group, LLC. The Fairman Group, LLC is registered with the Securities and Exchange Commission under Section 203(c) of the Investment Advisers Act of 1940.
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