RESOURCES

Quarterly letter with book review, educational spotlight, market update and more.

There are many ways people are now trying to get rich quick, armed with floods of money from the world’s central banks. When the focus of wealth creation is speculation and not work or creation and the timeframe is weeks or months and not decades, times are likely to be challenging ahead. On the other hand, there is still incredible new technology being developed, and creative new approaches being tried.

The hardest thing in personal finance is to feel like you have enough. “The most important part of every plan is planning on your plan not going according to plan.” Rather than using our money to buy more stuff, we should use it build “a life that lets you do what you want, when you want, with who you want, where you want, for as long as you want.”

Summary: Qualified Opportunity Zones (QOZ) allow gains to be reinvested in certain under-developed areas with three potential benefits to the investor. First, the tax on the gain is deferred until 12/31/2026 (payable in 2027). Second, if the investment is made before 12/31/21, 10% of the gain is eliminated for tax purposes. Third, any gains on the investment in the opportunity zone are tax-free, as long as certain conditions are met.

What is a fiduciary financial advisor, and why is it important?

An RIA operates as a fiduciary, meaning it is obligated to always act in the best interest of its clients.