Personal Finance

REBALANCE SOME OF YOUR U.S. STOCK EXPOSURE TO FOREIGN STOCKS

REBALANCE SOME OF YOUR U.S. STOCK EXPOSURE TO FOREIGN STOCKS

• U.S. market has outperformed foreign markets over the last decade
• Trim some U.S. holdings and add to some overseas markets
• Consider markets you are underexposed to and/or are unpopular

Watch the related WEALTHTRACK episode.

• Make charitable giving part of your financial plan
• Americans give away hundreds of billions a year
• Need to plan for it financially

USNIK: VALUABLE ADVICE

• CEOs and philanthropists should create a sounding board of millennials
• Get their views on issues that matter to you
• Millennials are the employees, customers and investors of the future

Watch the related WEALTHTRACK episode.

TAKE FULL ADVANTAGE OF TAX DEFERRED SAVINGS PLAN

TAKE FULL ADVANTAGE OF TAX DEFERRED SAVINGS PLANS

2019 ALLOWED CONTRIBUTIONS RISING

401(k) OR SIMILAR WORKPLACE RETIREMENT PLAN:
• $19,000 for under age 50
• $6000 catch-up contribution for age 50 or older remains the same

INDIVIDUAL RETIREMENT ACCOUNTS – I.R.A.’s:
• $6000 for under age 50
• $7000 for age 50 or older

• HEALTH SAVINGS ACCOUNTS – H.S.A.’s:

• $3500 for under age 55

$1000 catch-up contribution for age 55 or older remains the same

HEALTH SAVINGS ACCOUNTS = TRIPLE TAX BENEFIT
• tax-free contribution
• tax=free growth
• tax-free withdrawals

TALK TO EVERYONE YOU CARE ABOUT, NO MATTER WHAT AGE OR STAGE ABOUT ACHIEVING “POSITIVE FINANCIAL INDICATORS”

TALK TO EVERYONE YOU CARE ABOUT, NO MATTER WHAT AGE OR STAGE ABOUT ACHIEVING “POSITIVE FINANCIAL INDICATORS”:

• Having enough money to save for future needs
• Saving enough for retirement
• Feeling in control of your financial life
• Taking an active role in setting and achieving goals for your financial life
• Able to pay monthly expenses

Watch the related WEALTHTRACK episode.

CONSIDER USING A DONOR-ADVISED FUND FOR YOUR CHARITABLE GIVING

CONSIDER USING A DONOR-ADVISED FUND FOR YOUR CHARITABLE GIVING

Donor-Advised Fund Advantages

• Take immediate tax deduction
• Take time identifying where and when the money is given
• Simplify record keeping
• Make it easier to give in small and frequent amounts
• Vet charitable organizations
• Appraise and liquidate hard to give assets including real estate and art

Watch the related WEALTHTRACK episode.