So, how do you go about coaching this team of guardians, agents, executors, trustees, and beneficiaries; and what should you expect from them in return? We’ve highlighted the best practices we encourage all of our clients, friends, and family to follow below:
This June marks my sixth month here at Woodward Financial Advisors, and I’m pleasantly surprised that what makes my colleagues excellent financial advisors, isn’t much different than what made my teachers great educators. While there are differences (e.g.: our clients are not teenage students, we have infinitely better snacks than the cafeteria line, and I haven’t caught anyone smoking in the bathroom … yet), I have found that we are, in fact, still in the business of education. Let me explain …
Do you happen to live in a desirable vacation spot? How about an area that hosts major festivals, fairs, or sporting events? If so, you could benefit annually by earning tax-free income with the 14-day rental rule, famously known as the "Augusta Rule." Rent out your home and keep the income—tax-free!
My first job in financial planning started in 2000, at the end of the bull market of the 1990s and you guessed it after the dot com bubble burst! What followed that burst was about ten years of underperformance of the U.S. vs. International stock market. However, currently the US Stock Market (S&P 500) has been outperforming the Broad International Market (MSCI World ex USA) for thirteen years. These fluctuations are normal and historical data shows that different markets often take turns leading in performance.
There are many wonderful things to celebrate in May – the warmer days full of sunshine, beautiful blooming flowers, and of course the incredible women who have shaped our lives. While honoring mothers for their nurturing, sacrifices, and guidance, we would also like to include our appreciation for ALL women - be it aunts, stepmoms, friends, or teachers who have had a lasting positive impact on our lives.
With the spring semester winding down, we wanted to share some reminders and information about 529 plans and how you can get the most out of your college savings plan!