By Preston Rosamond Here at The Rosamond Financial Group, we believe that your success is our success and we have made it a priority to build lasting, meaningful relationships based on trust, integrity, and superior service. Your satisfaction is our primary concern. In order to continue meeting your needs and improving our services, we’d like to know more about your experience. Please provide us with your feedback by answering these questions. About Preston Preston Rosamond...
By Preston Rosamond The holidays are upon us and a new year follows closely behind. And while most of us want to put 2020 behind us, before you mentally move into 2021, be sure to pay some attention to your taxes. Even though taxes are not at all festive, proactively planning can save you money, and that’s cause for celebration! Here are some year-end tax strategies that you may benefit from. Be Proactive With Tuition...
By Preston Rosamond Figuring out how to pay for college, including what federal aid and/or loans might be available to your family, can give you a headache. Though receiving an inheritance when your children are reaching college age may seem like perfect timing in helping you pay for tuition and other costs, it can also negatively impact the aid your family is eligible for. Let’s look at how an inheritance may affect your aid calculation...
By Preston Rosamond As we watch the market go up and down and then up again, we rarely think about the taxes we might pay with the rise of our portfolio or home value. But we should because the tax man always cometh—however, you can control how much you owe. The amount of taxes you pay is dependent on the amount of time you hold your asset. Having an investment for a year or less...
By Preston Rosamond I get it. Making decisions about what’s going to happen after we’re gone is not fun, which makes it easy to push further down the to-do list. Most people understand the importance of having a will, but unfortunately, many don’t take the time to write one. If you keep putting off creating a will for yourself, I want to remind you this crucial document is worth the effort. After all, providing a...
By Preston Rosamond You may think Roth IRAs are only for working adults who have retirement on the brain. But think again! Roth IRAs are the unsung heroes of the investing world—and they’re an excellent savings vehicle for kids. Yes, for kids. Here are 4 reasons why you should consider opening a Roth IRA for your child. 1. They Can Withdraw Contributions At Any Time Most retirement accounts charge you a steep penalty if you...
By Preston Rosamond As we get closer to the 2020 election, we’re hearing more about everything from international relations to immigration to, of course, the economy. Economic policies are common campaigning platforms for all parties, and this year is no different. We’re seeing promises to decrease unemployment, cut taxes, increase GDP, and so forth. Not surprisingly, these promises are immensely attractive to voters. This election season, candidates’ promises in regards to the economy are more...
By Preston Rosamond When you make a charitable contribution, your main goal is to support organizations you’re passionate about and to benefit those in need. It used to be that a nice tax break was just an added perk. Unfortunately, the new Tax Cuts and Jobs Act, with its higher standard deduction, causes many people to lose out on the tax benefits associated with charitable giving. But don’t be discouraged! You can still receive tax...
By Preston Rosamond Often, just keeping the lights on when you’re running your own business takes up all your time. Still, you must take the time to plan for the day you no longer can manage the business, or wish to exit for some other reason. This planning becomes more complicated, and also more vital, when you have business partners. We frequently work with business owners and encourage them to have a buy-sell agreement in...
By Preston Rosamond When we think of retirement, our minds often go to two things: money and our dreams of our ideal retirement. But we often forget some things—namely planning for the transition into a new reality and the emotional and psychological changes that happen in retirement. Retirement isn’t just about having enough money in the bank to quit work. Yes, you need a stream of income you can’t outlive, but it’s also about more...
The Paycheck Protection Program (PPP) was designed to assist employers in maintaining payroll even when they were shut down or limited by the COVID-19 containment efforts. The most appealing part of the program, perhaps, was the fact that the loans would be eligible for either partial or full forgiveness. While helpful, the program has had many problems and been a source of much confusion for business owners. The Small Business Administration (SBA) recently issued rules...
By Preston Rosamond In the fall of 2019, index funds finally surpassed actively managed mutual funds. As of August 31 of last year, $4.27 trillion was invested in index funds and only $4.25 trillion in their active counterparts. (1) Clearly, index funds have seen an incredible rise in popularity over the last decade. The question, though, is whether or not their popularity is justified. Are index funds really as great as everyone thinks? Here are...