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Money Matter$

Insights from the Sommers Financial Management Team

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What I've Learned in 2019 by Vivian Rupe

“A fiduciary is a person or organization that acts on behalf of another person or persons to manage assets. Essentially, a fiduciary owes to that other entity the duties of good faith and trust.” The reason I feel honored to be a part of this team, is that I have witnessed the many ways we put our clients first. We listen, we research, we plan, and we help our clients succeed.

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Tax Strategies to Help Charities

Since the tax changes in 2018, most Americans are using the standard deduction rather than itemizing, as the standard deduction has nearly doubled—and SaLT tax deductibility is limited to $10,000. That means charitable contributions—which are itemized deductions—no longer have the same tax benefit for most. There are two ways you can plan to maximize the impact of your generosity: Donor-Advised Funds (DAFs) or Qualified Charitable Distributions (QCDs) from your IRA.

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An Everyday Millionaire by Ken S.

With the help of my son Adam’s knowledge about everything money, I can now call myself an “everyday millionaire“, a phrase coined by Chris Hogan, author of Everyday Millionaires. The total of my bank accounts and investments minus my debts comes to more than $1 million.

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Two Issues Plaguing the Market as of January 1st, 2019

December was the worst month for the stock market since February 2009, when the world still thought banks might become extinct. While we have no similar global catastrophe on our radar, there is definitely worry in the stock, bond and commodity markets. An upcoming recession is on everyone’s minds, and the two most disturbing market forces today are: 1. Rising interest rates 2. Tariffs & trade wars

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