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AI's Role in Shaping Our Tomorrow: A Look Ahead
While artificial intelligence (AI) is making headlines today, the concept of "thinking machines" can be traced back to ancient philosophers and mathematicians. The phrase artificial intelligence was first used in the mid-20th century,...
Read MoreWeekly Market Insights: Stocks End Summer with Gloomy News
Rising bond yields and fears of a government shutdown hammered stocks last week, with technology shares bearing the brunt of the retreat. The Dow Jones Industrial Average lost 1.89%, while the Standard & Poor’s 500 dropped 2.93%...
Read MoreTop 10 Questions High Net Worth Individuals Ask About Social Security
Social Security, the program you may have spent a lifetime paying into, is designed to offer stability, supplemental income, and other valuable benefits that can play a role in your overall financial strategy after you retire. We've...
Read MoreWeekly Market Insights: Will the Fed Raise Interest Rates?
Concerns that the Fed may raise interest rates soured investor sentiment, sending stocks lower in a holiday-shortened trading week. The Dow Jones Industrial Average slipped 0.75%, while the Standard & Poor’s 500 declined 1.29%....
Read MoreUnderstanding the September Effect: What It Is and Why It Happens
If you ask the average investor which month is the most volatile for the stock market, they will probably say October. It's a reasonable answer, but it's incorrect. Despite October's reputation for market-defining events like the...
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Weekly Market Insights: September Stocks Open In Positive Territory
Falling bond yields–spurred by weak economic data–helped lift stocks to weekly gains. The Dow Jones Industrial Average advanced 1.43%, while the Standard & Poor’s 500 gained 2.50%. The Nasdaq Composite index...
Read MoreWeekly Market Insights: Stocks Retreat; Powell Talk Goes Hawk
Stocks fluctuated last week, jostled by fitful bond yields and headline news, before ending strongly following Fed Chair Powell’s comments on the monetary outlook. The Dow Jones Industrial Average slipped 0.45%, while the...
Read MoreDon't Get Hooked: A Guide to Recognizing and Avoiding Phishing
As financial professionals, we understand how vital it is to safeguard your personal and financial information. Unfortunately, in our increasingly digital world, cybersecurity risks, such as phishing attacks, have become a prevalent...
Read MoreWeekly Market Insights: Stocks Weather Summer Storm of News and Indicators
Stocks extended their August declines last week as higher yields and weak economic data out of China soured investor sentiment. The Dow Jones Industrial Average lost 2.21%, while the Standard & Poor’s 500 retreated 2.11%. The...
Read MoreWeekly Market Insights: Summertime Blues for the Markets
Positive inflation data failed to lift stocks from their August doldrums last week as economic data and a ratings downgrade soured investor sentiment. The Dow Jones Industrial Average added 0.62%, while the Standard & Poor’s 500...
Read MoreMoney Tips for Parents Sending Children Off to College
You’ve done a great job teaching your children vital life lessons and instilling values that will last a lifetime. As summer ends and a new school year begins, one thing that shouldn’t be overlooked, especially for...
Read MoreWeekly Market Insights: Stocks Raise White Flag to Bad News
Stocks retreated last week as bond yields increased following the Treasury's announcement indicating “a larger-than-expected funding need” and a downgrade in the federal government’s debt rating. The Dow Jones...
Read MoreAttention Parents and Grandparents of College-Bound Students: FAFSA Gets an Overhaul
Changes are coming to the complicated form that students must submit to qualify for college financial aid, known as the Free Application for Federal Student Aid (FAFSA).The Department of Education is calling it the “most...
Read MoreWeekly Market Insights: Stocks Jump After Inflation Gauge Cools
A Friday surge pushed stocks solidly into positive territory last week, ignited by cooling in an inflation gauge closely tracked by the Federal Reserve. The Dow Jones Industrial Average advanced 0.66%, while the Standard &...
Read MoreThe 6 Biggest Mistakes DIY Investors Make and How to Avoid Them
IntroductionOver the last several months, I have met with quite a few self-proclaimed do-it-yourself (DIY) investors who, after struggling with the markets in 2022, approached me asking for a second opinion. Interestingly, almost every...
Read MoreWeekly Market Insights: Stocks Advance and Retreat on Mixed News
Stocks moved to the rhythm of earnings season last week, initially rising on positive earnings surprises and faltering later in the week on key earnings disappointments. The Dow Jones Industrial Average rose 2.08%, while the...
Read MoreWeekly Market Insights: Bad News for Bears; Good News Buoys Markets
Better-than-expected updates last week on consumer and wholesale price inflation buoyed investor sentiment, driving stocks higher and lower bond yields. The Dow Jones Industrial Average rose 2.29%, while the Standard &...
Read MoreHow the SECURE 2.0 Act Changed 529 Plans
Changes to 529 plans in the SECURE 2.0 ActThe SECURE Act was initially passed by Congress at the end of 2019 and was intended to improve retirement savings opportunities. It was a big deal at the time and the most significant piece of...
Read MoreWeekly Market Insights: Stocks Stumble with CPI on Deck
Rising concerns about further rate hikes sent stocks lower to kick off the second half of trading.The Dow Jones Industrial Average lost 1.96%, while the Standard & Poor’s 500 retreated 1.16%. The Nasdaq Composite index...
Read MoreHealth Savings Accounts: Pros, Cons, and Retirement Considerations
What if your child needs braces? The cost may be as much as $6,000 for metal braces—more modern versions can run as much as $13,000. Your health insurance may cover only a portion of the cost. If you're well past the braces stage...
Read MoreWeekly Market Insights: Economy Continues Upward Trend
Stocks posted gains for the week to close out a stellar month, aided by positive economic data and reports that all major banks had passed the Federal Reserve’s annual stress test.The Dow Jones Industrial Average gained 2.02%,...
Read MoreWeekly Market Insights: Stocks Take Summer Break, Month Remains Strong
Stocks took a breather last week as investors digested the previous week’s surge and the month-to-date solid gains.The Dow Jones Industrial Average lost 1.67%, while the Standard & Poor’s 500 fell 1.39%. The Nasdaq...
Read MoreTop 7 Most Common Estate Strategy Mistakes (and How to Avoid Them)
Getting your affairs in order and outlining what you want done with your estate after you’re gone is one of the greatest gifts you can leave your loved ones. However, not preparing for the transfer of your assets can lead to...
Read MoreWeekly Market Insights: Stocks Climb After Fed Pause
Stocks climbed last week as reassuring inflation data boosted investor hopes that the rate-hike cycle was nearing an end amid fresh economic data pointing to continued economic resilience.The Dow Jones Industrial Average rose 1.25%,...
Read MoreNavigating the Costs of Senior Care: Tips for Preparing for Long-Term Care
Senior care costs can be overwhelming, particularly when long-term care is required due to illness or medical conditions. With the number of seniors in the U.S. expected to rise exponentially by 2030, it's crucial to be prepared for...
Read MoreWeekly Market Insights: Markets March into Positive Territory Continues.
A late-week rally sent stocks into positive territory, with the S&P 500 index closing just shy of the 4,300 mark.The Dow Jones Industrial Average gained 0.34%, while the Standard & Poor’s 500 added 0.39%. The Nasdaq Composite...
Read MoreWeekly Market Insights: Debt Deal Relieves Market Worries
Stocks surged higher in the closing days of a holiday-shortened trading week, ignited by a political resolution on raising the debt ceiling and a strong employment report.The Dow Jones Industrial Average rose 2.02%, while the Standard...
Read MoreWeekly Market Insights: Debt Talks Optimism Keeps Eyes on D.C.
Markets moved in sync last week with perceived movement in debt ceiling talks, weakening early in the week and then surging on news of progress. A solid quarterly report and guidance from a mega-cap technology company helped with...
Read MoreLiving Trusts: Understanding the Basics and Key Considerations
Estate management can be a complex and daunting task for many people, but it’s a critical step in helping your assets get managed and distributed according to your wishes.One popular tool that can be used in estate strategies is...
Read MoreWeekly Market Insights: Despite Stall, Debt Deal Optimism Cheers Markets
Stocks rallied last week, propelled by growing optimism over reaching a deal on raising the debt ceiling and avoiding a technical debt default by the U.S.The Dow Jones Industrial Average edged 0.38% higher, while the Standard &...
Read MoreWeekly Market Insights: Attention Turns to the Debt Ceiling
Stocks were mixed last week as good inflation news was offset by mounting debt ceiling concerns and rekindled regional banking fears.The Dow Jones Industrial Average lost 1.11%, while the Standard & Poor’s 500 slipped 0.29%. The...
Read MoreTrying to Time a Recession?
Economies move in cycles – always have, always willThe Federal Reserve has been steadily increasing interest rates in an attempt to slow the rate of inflation. Its efforts are yielding some results, although inflation remains...
Read MoreWeekly Market Insights: Friday Rally Trims Losses; CPI Report Next Week
A Friday rebound, triggered by a big tech company’s earnings beat and a strong jobs report, shaved much of the week’s accumulated losses.The Dow Jones Industrial Average fell 1.24%, while the Standard & Poor’s 500...
Read MoreWhat Factors Have the Greatest Impact on Your Credit Score?
Fun fact: You probably have dozens of credit scores out there, and each one might be a different number.You’re probably familiar with a credit score, why it’s essential, and what it’s used for, but do you know how...
Read MoreWeekly Market Insights: Stocks show small losses after mixed week
Stocks remained resilient last week amid mixed earnings reports, hawkish Fed-speak, and lingering recession fears, closing out the five trading days with small losses.The Dow Jones Industrial Average slipped 0.23%, while the Standard &...
Read MoreImportant Financial Considerations to Make When Remarrying Later in Life
Discussing personal finances is important for any couple preparing for marriage. However, this topic can be more complicated for those who remarry later in life.If you’re remarrying later in life, one of your goals should be to...
Read MoreWeekly Market Insights: Lower inflation lifts spirits in uneven week.
The combination of an improving inflation outlook resulted in a week of uneven, albeit positive, performance, in which cyclical and financial stocks rallied while technology, real estate, and utilities lagged. The Dow Jones...
Read MoreTop Considerations to Help Adult Children Be Better Prepared As You Age
As we get older, it’s important that our adult children are prepared to manage any aging-related situations that may arise. This includes everything from having to make medical and financial decisions to determining assisted...
Read MoreHow the Silicon Valley Bank failure could affect you (and what you need to do now.)
What happened to Silicon Valley Bank, and more importantly will the fall out effect you and if so, what should you do?Silicon Valley Bank filed bankruptcy on Friday and was taken over by regulators. Those with deposits over the Federal...
Read MoreClient Meetings & Bad News Gives Markets a One-Two Punch
Stocks tumbled last week as investors reconsidered their interest rate expectations after Fed Chair Powell’s Congressional testimony that rates may need to go higher. Stocks also were rattled when a west coast bank was placed...
Read MoreWeekly Market Insights: Fed’s Reassurance Boosts Stocks.
A late-week surge, triggered by reassuring Fed-speak, propelled stocks higher last week.The Dow Jones Industrial Average gained 1.75%, while the Standard & Poor’s 500 advanced 1.90%. The Nasdaq Composite index picked up 2.58% for...
Read MoreWeekly Market Insights: Mixed Results As Interest Rate Concerns Grow
Growing concerns about further interest rate hikes, prompted by fresh economic data, reversed early-week gains and left stocks mixed for the week.The Dow Jones Industrial Average slipped 0.13%, while the Standard & Poor’s 500...
Read MoreWeekly Market Insights: Mixed Feelings and Mixed Earnings
Stocks drifted lower as a week of mixed earnings reports and resurgent worries over Fed monetary policy dragged on investor sentiment. The Dow Jones Industrial Average slipped 0.17%, while the Standard & Poor’s 500 declined...
Read MoreWeekly Market Insights: Powell: Inflation Heading in the Right Direction
Stocks were mixed last week following better-than-expected corporate reports and increasing optimism over a slowdown in interest rates.The Dow Jones Industrial Average edged lower, slipping -0.15%. The Standard & Poor’s 500 rose...
Read MoreWeekly Market Insights: Earnings and Data Tell Two Different Stories on Near Future.
Stocks added to their early 2023 gains amid a busy stream of mixed corporate earnings results and conflicting economic data.The Dow Jones Industrial Average gained 1.81%, while the Standard & Poor’s 500 added 2.47%. The Nasdaq...
Read MoreWeekly Market Insights: Mixed Results Following Weak Economic Data
Stocks showed mixed results last week as recession fears resurfaced in response to weak economic data and a tepid start to a new corporate earnings season. The Dow Jones Industrial Average skidded 2.70%, while the Standard &...
Read MoreTop 8 Tax Oversights CPA's Make - and Weekly Market Insights
We are excited to share with you our podcast on The Top 8 Tax Oversights CPA's Make. If you pay a lot in taxes, we think you will find it an eye-opener. Please listen on our website here or look for Red Carpet...
Read MoreThe tax saving PEET election and weekly market insights
We spent last week implementing year end strategies to reduce clients taxes. This included tax loss harvesting to offset capital gains tax, and helping business owners benefit from California's PEET rule, (Pass-Through Entity Elective...
Read MoreWeekly Update: Top 10 Year-End Tax Tips Podcast
We just dropped our most recent Podcast "Top 10 Year-End Tax Tips" that explains how Roth Conversions can reduce client's long term tax bills. You can listen here: https://red-carpet-retirement.blubrry.net/And, we have been busy...
Read MoreThe Podcast, the Widows Penalty and the Market Update
We achieved a milestone last week as we launched our "Red Carpet Retirement Podcast"! Our aim is to make financial education entertaining and informative. The episodes are a quick listen at under 30 minutes. The first is about what...
Read MoreMedicare, tax tips and Market Update
We spent the end of last week at the NAPFA conference for fee-only financial planning firms enhancing our knowledge on such areas as advanced tax planning, estate planning, social security - and yes investments. One tip: if...
Read MoreWeekly Market Insights: Volatility Reigns; Inflation Remains Unchecked.
Stocks were mixed last week amid wide intra- and inter-day price swings, as technology shares bore the brunt of the downdraft.The Dow Jones Industrial Average gained 1.15% for the week. Meanwhile, the Standard & Poor’s 500...
Read MoreWeekly Market Insights: Boost Early in Week Keeps Markets Ahead
A powerful two-day stock rebound cemented a positive week for investors as a new trading month began.The Dow Jones Industrial Average rose 1.99%, while the Standard & Poor’s 500 added 1.51%. The Nasdaq Composite index increased 0...
Read MoreWeekly Market Insights: U.S. and U.K. See Financial Turbulence
Rising recession fears and uncertainty in the bond and currency markets sent stocks to new 2022 lows last week.The Dow Jones Industrial Average declined 2.92%, while the Standard & Poor’s 500 slumped 2.91%. The Nasdaq Composite...
Read MoreWeekly Market Insights: White Hot Inflation Report Alarms Investors
A hotter-than-expected inflation report sent stocks sharply lower last week as investors faced the prospect of more aggressive interest rate hikes by the Federal Reserve for perhaps a longer period.The Dow Jones Industrial Average fell...
Read MoreWhat is Happening with CPI and Inflation?
Believe me, everyone on Wall Street wants inflation to go away, or at least shrink back to below 2%, a level we enjoyed not so long ago.But Tuesday's Consumer Price Index report showed it might be some time before we see 2% again....
Read MoreWeekly Market Insights: Markets Upbeat, Despite Gloomy Inflation Talk
In a holiday-shortened week of trading, stocks posted healthy gains despite more tough talk on monetary policy from Fed officials.The Dow Jones Industrial Average rose 2.66%, while the Standard & Poor’s 500 gained 3.65%. The...
Read MoreUnpacking the Summer Economy
This is just a quick note about what's going on in the economy and what's going on in our office.We had a busy week. We recorded our first Podcast!Called "Red Carpet Retirement" as a nod to our many entertainment industry clients, we...
Read MoreAre you ready for a market decline?
The stock market has abruptly pulled back over 8% from its all-time highs. This could be the beginning of a more serious pull back. As long-term investors, we shouldn’t be trying to time the market. However, if you would be...
Read MorePerfect Portfolio Design Part 1
Please enjoy this installment of our Wealth Essentials webinar series. We simplify the concepts of Modern Portfolio Theory so even a Kindergartener can have a perfectly designed investment portfolio. Okay, maybe not quite a...
Read MorePerfect Portfolio Design Part II
Please enjoy this installment of our Wealth Essentials webinar series. This is the 2nd Part of our lesson on Portfolio Design. We simplify the concepts of Modern Portfolio Theory so even a Kindergartener can have a perfectly designed...
Read MoreTax Secrets Your Accountant Doesn’t Tell You
Please enjoy this installment of our Wealth Essentials webinar series.
Read MoreFinancial issues Facing Those Trying to Move Abroad
If you’re planning on moving abroad, you may encounter some of these financial challenges. Moving abroad can be a thrilling life change full of adventure and excitement, but it can also bring with it a plethora of challenges...
Read MoreMaking Money with ESG Investing
Two Steps to Get Started on Aligning Your Money with Your Values Are you familiar with ESG Investing? It’s a trending investment philosophy that combines two goals: positive investment returns and positive impact on society,...
Read MoreHow to Save for Retirement Without a Traditional 401(k)
Tools to Help Creatives and Other Self-Employed Individuals Plan for a Sound Financial Future Much of the retirement advice you hear is of the “start saving early” and “take advantage of your employer match”...
Read MoreStress-Free Tips for Setting and Reaching Your Goals
How to Make Peace with the Process Even When COVID-19 Stalls Your Goals ProgressGeorge Lucas said, “Always remember, your focus determines your reality.” One of the few blessings of COVID is that it has forced us to slow...
Read MoreWhy Millennials and Others Shouldn’t Buy a House Right Now
For many people, Millennials included, buying a home is a rite of passage. Though Millennials tend to be a misunderstood generation, the American dream is alive and well with them. Since many are growing their families, homeownership...
Read MoreBritish Expats: What to Do Before You Say ‘I Do’
Options for Getting Your Green Card and Remaining in the U.S. To paraphrase Truman Capote, love knows no geography. If you’re a British expat reading this article, then you are likely hoping to marry your American sweetheart and...
Read MoreHow Sole Proprietors Can Minimize Their Self-Employment Tax Burdens
Four Strategies for Managing the Self-Employment Tax When you’re working as a sole proprietor, you are both the employer and the employee. While it’s a business model that can offer you the benefits of flexibility and...
Read MorePresidential Elections and Your Investment Success are Not as Related as You May Think
Five Tips for Moving Forward if You’re Anxious About Your Portfolio in an Election Year Are you concerned about what the presidential election may mean for the markets? If so, you’re not alone. Investors always tend to get...
Read MoreTaxes Abroad: Claiming Foreign Taxes
A Primer on How to Be Tax-Smart with Your Foreign Income Do you own stocks, bonds, or mutual funds? If so, you may well have some foreign holdings such as BMW (German), or BP (British), or Nestle (Swiss). This means you have paid...
Read MoreQ3 2020 | Quarterly Market Review
IN THIS EDITION OF OUR QUARTERLY MARKET REVIEW WE PROVIDE DATA AND ANALYSIS ACROSS MARKETS AND INVESTMENTS. This quarterly market review features world capital market performance and a timeline of events for the past quarter. It...
Read MoreRefinance Before the New Fee Hits on October 1st
Refinancing Right Now Might Make Sense. Here’s Why. Refinance before the new fee hits on October 1st and have the Federal Reserve help pay your mortgage for you. The Federal Housing Finance Agency (FHFA) is imposing a 0.5% fee...
Read MoreFundraising Goal for Multiplying Good | Help us Reach $4,000
Help us reach our fundraising goal by making a donation today! We are on the advisory board of our favorite non-profit MultiplyingGood in Los Angeles. The Students in Action curriculum empowers school teams to solve problems in their...
Read MoreFour Ways Self-Employed Freelancers Can Plan for Retirement in Hollywood
It’s Possible to Work for Yourself While Still Building a Sound Financial Future The current shut down is another reminder of how tough it is to plan for your financial future and retirement in the entertainment industry and...
Read MoreUK vs U.S. Healthcare: What Ex-pats (and others) Need to Know
Entering a Vastly Different Healthcare System Requires Forethought and Planning We had our own room in Cedars Sinai hospital – coming from the UK it seemed like a 5-star hotel. My newborn son peered up at me. His mother lay...
Read MoreFive Things to Consider Before You Retire Abroad
These Preparations Will Make for a Smoother Transition to Your New Home Where in the world would you live if you could? Have you always dreamed of retiring abroad? You’ve worked hard for decades to reach retirement, now...
Read MoreMultiplying Good’s Students in Action Turns Five!
Multiplying Good, a national nonprofit focused on elevating public service as the means to empower individuals, is having a FRIENDRAISER to celebrate the 5 year anniversary of their Students In Action (SIA) Program in the Greater Los...
Read MoreAdam Scott and Family earn Caltrans Adopt-A-Highway Program’s Volunteer of the Year Award!!!
The Scott Family is proud to participate in the Caltran’s Adopt-A-Highway Program and thrilled to have received a Volunteer of the Year Award for all of our hard work maintaining the last mile of Topanga Canyon Boulevard (HWY...
Read MoreQ2 2020 | Quarterly Market Review
IN THIS EDITION OF OUR QUARTERLY MARKET REVIEW WE PROVIDE DATA AND ANALYSIS ACROSS MARKETS AND INVESTMENTS. We also share an article that advises long-term investors on how to react to a volatile market and potential recession....
Read MoreAre Your Investment Decisions Making the World a Better Place?
Consider the Growing Trend of Impact Investing One of the most exciting aspects of impact investing is that there are so many choices. Whether you’re interested in stocks, bonds, or real estate, investing allows you to weigh your...
Read MoreEight Considerations When Passing an Inheritance to Your Children
Deciding to Provide for Heirs Can Impact Many Financial Decisions Regardless of the industry you’re in or the type of career you have, there is one thing that rings true for most people: the ability to leave an inheritance behind...
Read MoreSeven Steps to Finding the Best Financial Advisor
It’s crucial to find the right person for your family. Hiring a financial advisor means taking on an expert partner in financial planning so that you can have peace of mind as you pursue your financial and life goals. It should...
Read MoreIs Prudence Crazy?
Why are share prices so high and what is an investor to do? The stock market seems to be hoping for the best rather than planning for the worst. Since we are responsible for people’s financial lives, it is prudent that whilst we...
Read MoreEverything You Need to Know About Succession Planning
Whether your organization is large or small, a start-up or an established entity, employees will come and go. When someone leaves your business, it’s important to retain all the knowledge they accrued over time and to plan for...
Read MoreIs Impact Investing Right for You?
There’s a growing trend among investors – both individuals and institutions – to use their money to effect positive change in the world. For these investors, gone are the days of simply calculating which funds will...
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