Year-End Planning

As this most interesting year concludes, we find ourselves caught somewhere between 'I can't believe 2020 is over already' and '2020 seems to have dragged on forever'. 

True at any year-end, there are some important financial planning items to attend to before next January rolls around. This year in particular offers additional opportunities/challenges as the stock markets are at record highs, interest rates are at record lows, and the near-term tax landscape has rarely been as uncertain. 

With the stock markets breaking records in the final months of 2020, we look to ensure your overall portfolio allocation remains on target. In fact, we have maintained our discipline of rebalancing client portfolios throughout the year, and 2020 offered no shortage of opportunities with a swing of almost 60% between low and high valuations. 

The historic lows of the cost of money, or interest rates, also provides opportunities as we close out the year. Whether considering the refinancing of a mortgage or business loan, or even restructuring intra-family loans, now may be the time to take a hard look at your options. 

Year-end is also prime time to review gift and estate planning as well as charitable giving. It's fair to say that addressing these issues this year is uniquely important. The promise of any new administration always includes the promise of proposed tax changes that may fundamentally alter the landscape. This year is no different, and perhaps even more precarious, considering the pandemic and its associated government fiscal stimulus. 

We will continue to address these issues as a matter of course, but please feel free to reach out and update us on any changes to your personal financial situation and objectives.