As we approach the tax filing deadline, I’ve attached two helpful checklists, one regarding necessary tax filing documents, and the other regarding RMDs.
If you have not yet filed, you might consider giving all necessary documents to your CPA and asking them to wait before officially filing. It is not uncommon for firms to release amended tax documents towards the end of February.
MARKET UPDATE
As I watch and read of the market environment, through all of the changes in policies, developments with AI, and the Fed’s continued eye on inflation, I am reminded of the importance of rebalancing. At its core, rebalancing is the discipline of trimming back the portions of the portfolio that have outperformed (portions whose intrinsic value has in turn decreased, due to the inflated price) and using those proceeds to be invested in the portions of the portfolio that have underperformed (whose intrinsic value has now increased, given the cheaper buying price).
In this manner, we maintain diversification, stay properly balanced in risk, and lock in the gains of our winners.
Given that we cannot predict the future, history is our only guide. With history as our guide, we maintain the belief that the most effective manner to achieve our client’s long-term goals (and outpace the lagging effect of inflation and taxes), is to remain invested in a diversified stock portfolio, through the ups and downs, over the life of the financial plan.
Please note: We will be sending you a separate email with a PDF attached, called “Client’s Corner.” These pieces are written by Nick Murray, one of our favorite financial experts. I highly recommending reading this month’s article.
FRIENDLY REMINDERS
- Anti-Fraud – As a friendly reminder, if you receive any messages (text, email, etc.) prompting approval of any transaction you do not recognize, call us immediately. Please refrain from clicking any links associated with a transaction of which you are unaware! These are simple practices to help protect you and the firm, as there are bad actors looking to exploit technology.
- Roth and Traditional IRA Contributions – The deadline to contribute to a Traditional or Roth IRA for 2024 is April 15, 2025. Each individual may contribute a max of $7,000 with an additional $1,000 for those over the age of 50.
- PWA Portal – Click here to access your PWA portal login. This portal is your one stop shop to view your accounts, balances, and quarterly statements. If you are unable to login, please let us know and we will get you set up.
We’re always here to answer your questions or address your concerns. It is a privilege to serve you.
On behalf of your PWA team,
Brock Hedgecoke, CFP®
Financial Advisor