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Last show we talked about the silver lining of a financial crisis. This week I talk about the special opportunities that these down markets can offer. More specifically, if you did not catch it from the title of this post, I am talking about harvesting tax losses. More than likely, and probably by no fault of you or your adviser, you have experienced some significant losses this year. When the markets behave this way, it hurts everyone, even those investors doing everything right.
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What a week! Actually, what a past couple of weeks! Obviously, it wouldn't be too hard to harp on all of the bad stuff going on right now. So, instead of doing that, I would like to focus on some of the silver lining and maybe some of the positive things that could come out of this situation. Rick Newman wrote an article in U.S. News titled, How to Punish Wall Street, Protect Main Street. In this article, he hits on some things that I really agree with. I feel that some of our current pain, in the long term, may be good for all of us.
Brian Preston, CPA, CFP®, PFSCertified Financial Planner, Wealth Manager, Media Personality, and Blogger/Podcaster
In my day job, I'm a partner in a fee-only wealth management and financial planning firm, Preston & Cleveland. After hours, I pursue my passion: financial education through blogging and podcasting.
Going "beyond common sense", my blog and podcast bring you the tools and information you need to restore order to your personal financial chaos.
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I don’t look to jump over 7-foot bars; I look around for 1-foot bars that I can step over.
— Warren Buffett
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