Blog
Symphony Financial Planning Adds Three Team Members
April 29, 2021
Davis RIA hires trio amid preparations for holding in-person meetings once again. DAVIS, California—April 29, 2021—Symphony Financial Planning, a fee-only Registered Investment Advisor in Davis, today announced that it has welcomed three new team members into the fold: Matthew DeTorres as Operations Manager, Mike Paulson as Technology and Trading Manager, and Valaree Nash as Administrative…
How Well Do You Understand Retirement Plan Rules?
April 27, 2021
Qualified retirement plans, such as IRAs and 401(k)s, have many rules, and some of them can be quite complicated. Take the following quiz to see how well you understand some of the finer points. You can make an unlimited number of retirement plan rollovers per year. A. True B. False C. It depends If you…
Growing Interest in Socially Responsible Investing
April 27, 2021
U.S. assets invested in socially responsible strategies topped $17.1 trillion at the start of 2020, up 42% from two years earlier. Sustainable, responsible, and impact (SRI) investments now account for nearly one-third of all professionally managed U.S. assets.1 This upward trend suggests that many people want their investment dollars to pursue a financial return and make…
Home-Sweet-Home Equity
April 27, 2021
Buying a home is a long-term commitment, so it’s not surprising that older Americans are much more likely than younger people to own their homes “free and clear” (see chart). If you have paid off your mortgage or anticipate doing so by the time you retire, congratulations! Owning your home outright can help provide financial flexibility and…
Is Your Home Office Also a Tax Shelter?
March 25, 2021
The pandemic ushered in the age of video meetings, providing a glimpse into many kinds of home workspaces. For many workers, a dedicated home office became more important than ever in 2020, though not everyone will get a tax break for having one. A Perk for Business Owners Only self-employed workers, independent contractors, and partners…
Real Estate for Income and Diversification
March 25, 2021
An estimated 145 million Americans own real estate investment trusts (REITs) in their retirement accounts and other investment funds.1 The primary appeal of REITs is the potential for a consistent income stream and greater portfolio diversification. Of course, like all investments, REITs also have risks and downsides. Pooled Property Investments An equity REIT — the…
Should You Convert Your Term Life to Permanent Life Insurance?
March 25, 2021
Term life insurance provides life insurance coverage for a specific time period (the term). The face amount of the policy is paid if you die during the term of the policy. When you live longer than the term of coverage, nothing is paid, as there is no cash surrender value. Permanent life insurance provides protection…
Due Date Approaches for 2020 Federal Income Tax Returns
February 25, 2021
Tax filing season is here again. If you haven’t done so already, you’ll want to start pulling things together—that includes getting your hands on a copy of your 2019 tax return and gathering W-2s, 1099s, and deduction records. You’ll need these records whether you’re preparing your own return or paying someone else to prepare your…
Tax Filing Information for Coronavirus Distributions
February 25, 2021
In March 2020, Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The legislation included a provision that allowed qualified retirement plan participants and IRA account holders to take penalty-free early distributions totaling no more than $100,000 between January 1 and December 31, 2020. If you took advantage of this measure, here’s what…
A Financial Wellness Plan Can Help Pave the Road to Retirement
February 25, 2021
If we’ve learned any lesson over the past year, it’s that no matter how carefully we plan and prepare, we’ll likely encounter unexpected hurdles. While a global pandemic has certainly underscored the need to pay close attention to our physical wellness, it has also revealed the need to shore up our financial wellness. According to…