In-er-tia, a tendency to do nothing or remain unchanged. (The Oxford Dictionary)
“There is no time like the present.”
“Just do it”
“Never put off til tomorrow, what you can do today”
Procrastination, the bane of our existence. Yes, there are more serious things to worry about, but your financial health is pretty important. In our chairs we see a great deal of financial/investor inertia.
What causes financial inertia?
2021 is finally here! We all tend to feel like we are starting with a clean slate as we kick off the new year. It feels like a new beginning...
From a financial perspective, it is a great time to take stock of your family’s current savings plan and ask yourself if there is room to save more or if you are missing opportunities to save in a more tax-efficient way. Here are a few of our favorite tips that are often overlooked.
2020 provides unique year-end tax planning opportunities for several reasons, including lower tax rates, the Secure Act passed in late 2019, and the Cares Act passed earlier this year. While we expect there to be tax code changes down the road as a result of a new presidency and legislature, it is important to stay focused on current tax planning opportunities with an eye to the future.
Potential opportunities include
Income Bracket Management:
We are including our 2020 End of Year Checklist for your review. Please feel free to reach out to us with any questions.
During stressful situations, our brain alerts us to "proceed with caution". That makes sense...if we were cave men or women, it might have saved our lives. Now we are living in a stressful world with the Coronavirus and it is here to stay for the foreseeable future. Having a financial plan in this new reality is more important than ever.
Would you build a house without architectural plans? Would you take an extended road trip without GPS? Yet we often invest our money without a strategy (roadmap) in mind. When we generalize goals over longer time horizons, we have no idea if they are realistic or if we are on track to accomplish them in a time frame that we have in mind. Instead we live in fear that things won’t work out the way we hope they will. What’s wrong with that?
More than anyone, busy women understand the value of time. Many of our clients are busy women who feel responsible for the well-being of their families. Hence, it stands to reason that the time/value of money is pretty darn important as it is a critical element that allows us to take care of ourselves and our families. It is no surprise our clients also know that life’s financial implications for women are different than for men.
Jenifer Aronson is the Founder of Mosaic Fi.