Quarter 4 Update: Year-End Tax Planning
Hello and welcome to quarter four of your financial planning experience! We hope you had a great summer. It is crazy to think we are already starting to plan around the end of the calendar year.
For this quarter, we are focused on a few key topics involving year-end planning. These potential conversations include: A Year End Planning Checklist, education around inflation and investment planning, a focus on tax diversification in retirement savings, and a behavioral finance deep dive on Miller’s Law of information processing and 505427. As always, you can use this platform to schedule meetings on anything related to your financial planning.
Look forward to connecting soon,
John Doe
Quarterly Conversations
I’d Like to Review & Discuss
Learn Me
Lifestyle Creep
Our Learn Me video this quarter focuses on a phenomenon called lifestyle creep. It is common to change our lifestyle depending on our income level and outside influences, which is not inherently bad, but we should be aware of when we are making these changes and if we are doing them for the right reasons.
Catch Me Up
Year End Planning in the News
These timely articles discuss different aspects of navigating financial planning. Click any title to open and read the full article.
Tax-Loss Harvesting
via Forbes
Student Loan Forbearance
via Forbes
Maxing Out 401k
via Money
Roth Conversion via Forbes
Send Me
The Book of the Quarter
Organizational psychologist Adam Grant is an expert on opening other people's minds--and our own. He makes it one of his guiding principles to argue like he's right but listen like he's wrong. With bold ideas and rigorous evidence, he investigates how we can embrace the joy of being wrong, bring nuance to charged conversations, and build schools, workplaces, and communities of lifelong learners. Think Again reveals that we don't have to believe everything we think or internalize everything we feel. It's an invitation to let go of views that are no longer serving us well and prize mental flexibility over foolish consistency. If knowledge is power, knowing what we don't know is wisdom.
Mindset Me
Fixed vs. Growth Mindset
There are two types of mindsets we can cultivate: one that embraces problems as opportunities to learn, and one that avoids them, often out of fear to fail. People that avoid conflicts can be described as having a fixed mindset. Those who see problems as interesting challenges have a growth mindset. Sometimes we like to switch from one to the other.
