Finding the Sweet Spot in Your Financial Plan - October 17, 2024
Equilibrium Wealth Advisors
Wealth Management firm serving physicians, retirees, corporate leaders, and business owners.
Finding the sweet spot in your finances is striking the balance between the many paradoxes that come with success:
A good financial plan can help you navigate and calibrate your life by design which we define as living stress free now and looking back with no regrets later.
I. Market Commentary
II. EWA's Weekly Picks
Weekly Video Pick- 5 Tax Tips for Business Owners- Tip 4 - Hire Your Children
Weekly Reading Pick-? Discipline is Destiny by Ryan Holiday
III. Weekly Podcast
The Markets?
The Standard & Poor’s 500 Index closed above 5,800 for the first time—and that’s not all.
The Dow Jones Industrial Average also notched a record high last week—and all three major U.S. stock indices ended the first full week of October with gains of more than one percent.
There was good economic news, too.
Weekly Video Pick- 5 Tax Tips for Business Owners- Tip 4 - Hire Your Children
Weekly Reading Pick-? Discipline is Destiny by Ryan Holiday
You must live life with restraint and boundaries to meet your full potential without jeopardizing what you have already achieved. In Discipline is Destiny, Ryan Holiday explores how the greatest leaders and thinkers in history relied on discipline to balance ambition with control, ensuring their success endured over time. By mastering self-control and setting limits, you can stay focused on long-term goals, avoid destructive impulses, and protect the progress you've already made.
Team Takeaways:
1. To procrastinate is to be entitled. It is arrogant?to assume there will be a ""later"".
2. Focus is a superpower in a world full of distractions.
3. Sometimes you just have to show up. You won't always be amazing but you'll be around.
4. An alternative spelling of perfectionism is p-a-r-a-l-y-s-i-s
In this episode of FIN-LYT by EWA, Matt Blocki and Jamison Smith discuss how upcoming election results could impact corporate and individual taxes. They break down the differences between tax proposals from Trump and Harris, highlighting how each plan could affect corporate tax rates, personal income taxes, and deductions. Despite potential tax changes, they emphasize the importance of staying invested and avoiding emotional, politically-driven financial decisions, as long-term stock market performance remains largely unaffected by election outcomes.
The episode also touches on strategies to maximize tax-efficient accounts like Roth IRAs and HSAs, helping individuals prepare for possible tax hikes. Estate planning is briefly covered, with insights on how changes in the tax code could impact high-net-worth individuals. Throughout, Matt and Jamison encourage listeners to focus on long-term financial strategies and stay informed about evolving tax policies.