FINANCIALLY FOCUSED
June 2024 Newsletter
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OPTIMUM INSIGHTS for JUNE 2024
One of the things that is important for You and Your planning is the future costs that take away from Your “Plans”. What we are talking about is the threat of Inflation, threat of Taxes and the threat of Risk causing Loss of assets. Some thoughts to share on these “threats”:
- We are experiencing Inflation that has not dealt with for many years, which is affecting everyone. That is a monetary phenomenon that we really cannot control besides being careful with our cash flow (aka the Budget).
- Taxes we do have some control over. You are going to pay taxes and the goal should always be to pay the lowest tax rate possible. If You save on Taxes, it equates to not paying that unnecessary expense (aka going back into the budget). Tax Diversification needs to be part of Your Plan.
- Risk of Loss is a pain most of us try to avoid. While I cannot tell You what tomorrow will bring if You are taking that Risk, common sense and the age-old wisdom of “not keeping all of Your eggs in one basket” is the best place to start. This is where asset diversification is important and no, I am not talking about having 25 different Mutual funds.
What do these all have in common? It is always about what YOU KEEP in the end. It can make a dramatic difference to the outcome of Your plans. With those thoughts we are sharing with You a White Paper that has five things to be aware of with Taxes and how they can affect Your plans. I hope it is helpful!
Click Here to Access the PDF
As always, if you have any questions feel free to reach out to us at any time as we are always happy to help.
Thank you!
Duane, Donna, Jessica, Cameron
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Look out for the Strawberry Moon this June!
June’s full Moon, often known as the Strawberry Moon, is not named for its color or shape, but for its alignment with strawberry season. The Moon can appear reddish near the horizon due to atmospheric conditions. This year's Strawberry Moon falls on Friday, June 21.1
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What to Do When You're One Year From Retirement
Let’s next look at some strategies for when you’re a year away from retirement. Finding yourself just a year away from retirement is exciting, but don’t let that excitement distract you from some of the final steps you should take before your big day.
An Investopedia article, The Most Important Money Steps to Take the Year Before Retirement, provides some good insight.
Read More
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Panna Cotta
Panna cotta is a simple yet elegant dessert that's quick to make and can be prepared in less than 30 minutes. Unlike crème brûlée, it requires minimal effort and can be refrigerated for up to a week before serving. Its creamy texture makes it an ideal make-ahead option for a stress-free dinner party, topped with various options like fresh fruit, compote, or chocolate syrup.
Dive In!
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1 https://www.almanac.com/content/full-moon-june
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