TheLiveBigWay® Digest – Olympic Overlap

TheLiveBigWay® DigestPosted on February 9th, 2018No Comments

Olympic Overlap

The 2018 Winter Olympics are officially upon us! This year’s festivities are being held in PyeongChang, South Korea and began (last night) with figure skating and will further kick off with the opening ceremony today. While these upcoming competitions may vary widely with respect to the skills needed to win gold, the Olympics and all events surrounding it happen to align well with financial planning – from the planning and preparation process to the implementation and the monitoring. Read more about the dedication, training, performance, and teamwork similarities between the Olympics and the Financial Planning Profession.

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In Case You Missed It: Hello Volatility My Old Friend…

As was surely inevitable, volatility has returned to the markets after an historically quiescent couple of years. As this was being written, markets in Europe were down nearly 5% after a similar drop in the US on Monday. As a result of these fluctuations, many investors found themselves asking, “What should we make of this and what, if anything, should we do?”. In this piece, we answer these two questions and share how we factor in fluctuations from  inevitable economic volatility into our Client portfolios.

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Conversation Hearts for Your Valentine

When planning a date night or weekend getaway, few people think to make a discussion of finances part of the event. However, with money frequently cited as one of top stressors in relationships and one of the main causes of divorce, allocating time to have financial conversations with your sweetheart is a worthwhile endeavor. With Valentine’s Day approaching, we thought we would offer a few ideas for how you can make “money talk” a constructive part of your relationship. And if you’re still looking for plans for you and your valentine, perhaps a suggestion from our Live Big Chronicles may make for an extra special date night!

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Required Minimum Distributions

February marks the beginning of our annual process of distributing our Clients’ Required Minimum Distributions (RMDs) from their IRAs. Now that Schwab has released their annual RMD report, the Financial Planning Team is reviewing each IRA from which an RMD is required to ensure enough cash is available for the distribution. In most cases, RMDs will be distributed by the end of the month (some Clients have already received theirs); for our Clients who use their RMD amount as their annual spending target, we’ll track the distributions throughout the year to ensure the required amount is satisfied. Learn more about RMDs and Yeske Buie’s process for managing the distributions.

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How You Will Receive Your 1099

As you begin collecting your tax documents to prepare your 2017 returns, we’d like to offer a few notes about tax information for your Yeske Buie accounts.

  • On the Tax Reports page of your Client Private Page®, you will find reports for your taxable accounts (for planning purposes only) and transaction reports for your IRA(s). To complete your tax return, please refer to your Schwab 1099 for dividends, interest, and capital gains in your taxable account(s), and your 1099-R for any distributions from your IRA(s).
  • Schwab will be posting 1099s to the Statements & Reports tab of your Schwab Alliance account throughout the month of February. Step-by-step instructions for accessing the online forms can be found here. If you have elected to receive printed forms, you will be notified via email when the forms have mailed. And if you have any trouble at all accessing your forms, please don’t hesitate to give us a call so we can help.
  • If corrected 1099 forms are needed, they will be posted to your Schwab Alliance account beginning on February 27th.
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“Our deepest fear is not that we are inadequate. Our deepest fear is that we are powerful beyond measure. It is our light, not our darkness that most frightens us. We ask ourselves, Who am I to be brilliant, gorgeous, talented, fabulous? Actually, who are you not to be? Your playing small does not serve the world. There is nothing enlightened about shrinking so that others won't feel insecure around you. We are all meant to shine. And as we let our own light shine, we unconsciously give others permission to do the same. As we are liberated from our own fear, our presence automatically liberates others.” ~Marianne Williamson