LifeSteps Financial Briefing | November 2018

Henry's Take

Consumer spending, oil production and consumption, interest rates and other world events continue to bring volatility to the markets. And, this is the time that many people review their portfolio and make decisions that can affect their taxes.  That is why we have focused this month on what it means to harvest tax losses. We hope this provides information and clarity. As always, we are available to talk through and advise on options available.   As the LifeSteps family prepares for the Thanksgiving holiday, we give thanks for our clients, colleagues and friends. We appreciate your faith in us, how you continually support our efforts and the continual learning we acquire with each conversation. Our best wishes for a Happy and Safe Thanksgiving holiday.  Henry Ford, Principal

Is Tax-Loss Harvesting Right for You?

As this year draws to a close, you may be looking closely at your accounts and considering your options in order to start 2019 in the best possible light. Whether you are searching for tax breaks, investment opportunities, or other financial benefits, a careful review of all your options is crucial. One such option for lowering your losses this year is called tax-loss harvesting. Essentially, if you have an investment that has lost money during the year, you can sell it at a loss and then use that loss to offset your gains. By “harvesting” this loss, you may also be able to lower your tax rates at year end. This transaction is generally the most effective with short-term capital gains, which are taxed at a higher rate compared to long-term gains (those that are held longer than one year). read more...

Sharing and Giving Thanks Most Americans trace the history of the traditional Thanksgiving holiday to the 1621 harvest feast between English colonists (pilgrims) and the Wampanoag people. The Pilgrims contributed fowl (possibly turkey, but more likely geese or ducks) while the Wampanoag people brought venison to the feast, which may have also included fish, vegetables, and beer. Although these two groups of people were enemies, the days-long party and shenanigans acted as a sort-of treaty between them that went on to last more than 50 years. read more...

Did You Know?

FORCE THEIR HAND 401(k) plans with “ auto-enrollment ” have an average participation rate of 85% vs. 63% for plans that do not have “auto-enrollment” Source: Alight Solutions LLC Data reproduced with permission ?from By the Numbers EVERY DAY An estimated 10,400 Americans will turn 65 years old each day next year (2019). This group represents the 9th year of 19 years of “Baby Boomers” turning age 65. An estimated 11,500 Americans will turn 65 years old each day in the year 2029. ?Source: Government Accountability Office Data reproduced with permission from By the Numbers

Giving Back

Our featured charitable organization is  Hope through Housing Foundation. Hope through Housing Foundation's mission is to break the cycle of generational poverty by advocating for policies and implementing programs that empower individuals and change communities.

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This report is for information purposes only and is not a recommendation for any particular security. Mention of individual securities should not imply that we own the security or have owned it in the past. In addition, the information provided here should not form the basis for investment decisions. Past performance is no guarantee of future results. This information should not be used in any transaction without the advice and guidance of your Tax Professional. LifeSteps Financial has not independently verified, or attested to the accuracy or authenticity of the information, including any investment performance measurement.

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