Hartstone Business and Financial Services

Bull markets are characterized by rising stock prices, improved investor confidence and often coincide with a strong national economy. Understanding how to identify a bull market can help investors decide when to allocate more into the market for the potential of higher returns.

Fair market value is the price that an asset would sell for, such as a house or a car, in the open market. Fair market value is not a set number; rather, it is something that can change based on the specific circumstances involved. There are many practical uses for understanding fair market value. One is when someone is looking to buy a property. They may use the fair market value to help them determine whether they are qualified to buy the property and at what price they should offer.

Tax-loss harvesting can be a valuable investment strategy. Contact the office if you’d like to review in more detail. https://lnkd.in/eUpGQQW

One common mistake people can make when naming beneficiaries is to name someone who is "unavailable," such as a minor or a family member with special needs. To avoid issues of unavailability, consider naming a trust as the beneficiary, instead of the individual.

Discussing finances with your partner can be difficult. Here are some tips for having productive conversations about money: - Find a neutral time to talk - Don't just talk about numbers — share values and dreams - Talk about ways you want to earn money to help stay motivated - Be ready to compromise

Your child may need 3 types of insurance when heading off to college. Learn more at Forbes: https://lnkd.in/dCQJ2Y3

In the financial world, a beneficiary is typically someone you name in certain documents – like a financial account or a life insurance policy – to receive all or some of your assets (money and other items you own) when you pass away. Interestingly, certain financial assets—including 401(k) and IRA retirement accounts and life insurance policies—bypass a will or trust’s probate process, meaning assets go directly to the beneficiaries named on the respective accounts instead of following the directives outlined in a will or trust. This means you will need to carefully coordinate your beneficiary designations with your overall estate plan. When was the last time you checked the beneficiary designations on your IRA, your life insurance policy, or your brokerage account? If you have not looked at them in a few years, review them this week to make sure they are up to date.

Before you buy your first home, take these steps to help set yourself up for success: 🏠 Do a deep dive into your finances. 🏠 Figure out your optimal down and monthly payments. 🏠 Get your mortgage paperwork in order. 🏠 Familiarize yourself with the purchasing process.

Doctors face many unique challenges when it comes to investment management. While your earnings are significant over the course of your career, you may not begin to pay down medical school debt and reap the rewards of your hard work until you're well into your 30s or 40s. Plus, a shorter career span means less time for retirement savings to grow and compound—and less time to recover from market declines or poor financial decisions. Reaching and protecting your desired lifestyle requires a comprehensive and integrated approach to investment management. Your financial strategies should consider all aspects of your financial life as well as your unique economic lifecycle. An experienced financial professional can help you develop a comprehensive strategy to reduce financial complexity, optimize opportunities, and manage your exposure to risk. If you feel you could benefit from the insight and perspective of a financial professional experienced in helping doctors and other medical professionals pursue their financial goals, let’s talk. Give the office a call any time. https://lnkd.in/dpYeq4BZ

Building your wealth probably won't happen overnight. Setting and reaching your financial goals will likely be a life-long process that, if you stick to, can reward you. #financialgoals