THE CORPORATE TRANSPARENCY ACT
Heads up to all US business owners, that includes you, real-estate LLC! The Corporate Transparency Act (CTA) is a law that requires certain types of corporations, limited liability companies, and other similar entities created in or registered to do business in the United States to report their beneficial ownership information to the Financial Crimes Enforcement […]
The Brexit Chaos
I turned on CNBC this morning to the news that the Brits had voted to leave the EU. The S&P futures showed a loss of nearly 4%. The British Pound dropping by nearly 8%. The announcers are interviewing anyone that will talk about the doom to come. In other words the sky is falling…again. Except […]
The 9th Financial Commandment for Millennials: Open a Taxable Investment Account
Part of Oak Street Advisors’ 10 Financial Commandments for Millennials series, we discuss when to open a taxable investment account and how to strategize the location of your investment vehicles based on account taxability characteristics. Once you’ve filled up all your tax-deferred and tax-free investment accounts, it’s time to start paying Uncle Same (now) to invest. The […]
The 8th Financial Commandment for Millennials: Paying Down “Normal” Debts
Part of Oak Street Advisors’ 10 Financial Commandments for Millennials series, we go through the advantages of paying down common and often necessary consumer debts such as car loans, mortgages, and student loan obligations. If you’ve made it to the 8th Commandment congrats, you have established a strong financial foundation; we also know you’ve paid off […]
The 10th Financial Commandment for Millennials: Don’t Keep Up with the Joneses
Part of Oak Street Advisors’ 10 Financial Commandments for Millennials series, we discuss how lifestyle creep can lead to poor financial decisions and possibly ruin; and how keeping what really matters to us in life in the forefront of our financial lives can steer you away from conspicuous consumption. “Money has never made man happy, nor will […]
The 10 Financial Commandments for Millennials 4th Commandment: Establishing an Emergency Fund
The Emergency Fund: Why, How Much, & Where Part of Oak Street Advisors’ 10 Financial Commandments for Millennials series, determining the correct amount, picking a high-yield account, and saving for an Emergency Fund is critical in establishing a solid financial foundation for millennial investors. Before you start investing, you still need to complete one other, vital, […]
Thanksgiving
Once a year we have a holiday dedicated to giving thanks for the many blessings that we have received. Who knew that being thankful could make you happier! Here are Eight Ways Gratitude makes you happier_. Sometimes we get things backwards and think that happiness is what makes us grateful, but it turns out that it is […]
Taxman
Continuing our Grammy week of musical financial planning. Taxes have always been a vexing problem, reaching back to 1966 we hear the Beatles complaining about the taxman. Sorry no Beatles video, but we did find George Harrison. If you drive a car, I’ll tax the street If you try to sit, I’ll tax your seat […]
Tax Planning for Rollovers
Why you might not want to rollover that old 401k Many people overlook tax planning when rolling over old employer retirement plans when switching jobs For high earners, it may be better not to rollover these assets into personal IRAs Special attention needs to be paid to “Rollover” IRAs and “Traditional” IRAs; the correct use […]
TARIFFS & RECENT MARKET DECLINES
In light of the drop in markets recently, we shared the following note Bob Veres sent out which perfectly captures Oak Street Advisors’ thoughts on the recent market pullback. The Awful Feeling of a Market Downturn Okay, is it all right to start panicking now? Many investors are asking themselves this question as the markets […]
