On this week’s episode of Tape Talk, Quint and Daniel discuss some financial moves to consider as the clock winds down on 2019.
Before getting into the meat and potatoes, Quint and Daniel review the latest headlines in the trade war with China. Then, they question whether the new developments even matter any more? Headlines that might have moved the market in the past now barely cause the market to blink as traders settle into headlines exhaustion over the back-and-forth trade war stories.
End of Year Planning
One of the most critical pieces of your end of the year task list is ensuring you’ve updated your financial plan, assuming you have one. Quint breaks down the importance of a financial plan for investors to use as a roadmap as well as what you might be missing out if you have yet to do one.
Tax Moves for 2019
If you want to save money on your taxes for 2019 the time is starting to run out. Quint and Daniel discuss two important strategies investors might utilize to save a few extra dollars. First, consider tax-loss harvesting if you happen to have investments that are trading under your purchase price. These can work to reduce your tax burden or allow you to trim some profitable positions with little tax impact. Second, consider using qualified charitable distributions for your RMD to reap some potentially significant tax benefits if you are already charitably minded anyhow.