Sequoia Wealth Advisors

TRUE or FALSE . . . Affluent American households gave over $30k on average to charitable organizations, according to a 2023 Bank of America study. It is TRUE! In fact, they gave, on average, almost $35k! (Affluent households have a net worth of $1 million or more–excluding their primary home–and/or an annual household income of $200,000 or more.) 🎁 Whether you’re above or below this average, as we approach year-end, it may be time to focus on your charitable contributions for 2024. Have you considered these strategies? • Utilizing Donor-Advised Funds (DAFs) • Exploring Charitable Remainder Trusts • Implementing Charitable Lead Trusts (CLTs) As financial professionals, we can help integrate your philanthropic goals into your overall financial strategy. We can work alongside your tax, legal, and accounting professionals to explore the pros and cons of various giving approaches before making a contribution or implementing a strategy. This collaboration can help you align your philanthropic aspirations with your broader financial strategy. Some donor-advised funds are considered mutual funds and are sold only by prospectus. The prospectus will provide information on charges, risks, expenses, and investment objectives and should be reviewed carefully before investing. Investment companies can provide a prospectus, or you may prefer to ask your financial professional. Please read it carefully before you invest or send money. Remember, charitable giving is an ongoing opportunity to make a difference while potentially enhancing your financial situation. #CharitableGiving #Financial #Philanthropy #PersonalFinance

Happy Halloween from our team to yours! Taking a moment to wish all our clients, colleagues, and connections a safe and enjoyable Halloween. In the spirit of the season, we're curious to know what your favorite Halloween tradition is. Is it pumpkin carving, costume parties, or handing out candy? Share your favorite in the comments below—we'd love to hear from you! #HappyHalloween #ProfessionalConnections #CommunitySpirit

Today is National Cat Day! 🐱 For cat lovers, it's impossible to imagine a world without them. They are an integral part of families, bringing comfort, laughter, and love to the homes they share with their humans. While every day is a great day to appreciate our cats, today is the day to share your favorite cat photos and shower them with a little extra affection. Here's to all our cats, cherished companions, and beloved fur babies. ❤️ Share a photo of your furry friend in the comments! 🐾 #CatLove #NationalCatDay #AdoptDontShop

🚀 How Companies Are Thriving with Tech Investments 🚀 With increased funding and access to capital, many corporations are making strategic moves to invest in technology 💻 to boost productivity. They’re achieving more with less—not by reducing staff, but by using tech to fill workforce gaps as demographics shift 📉. 💼 Companies are embracing a "Goldilocks approach": leveraging automation and AI to stay agile without cutting jobs, which is reflected in today’s strong earnings reports 📈. It’s a win-win, enhancing growth without major layoffs! ⚠️ As taxes and regulations shape corporate profits, even small investors can feel the impact. Sequoia Wealth Advisors Codie A. Sanchez Kristina Kuprina, CIMA ® #financialadvisor #corporatespending Katie Lindfelt PitchHub

Just read about a pretty good iPhone hack, so I thought I’d share! Have you ever wanted to take a picture but missed it trying to open your camera? Or wanted to take a quick screenshot and struggled to push the buttons on both sides simultaneously? Did you know you can set it up so that you can make either of these happen just by tapping the back of your phone? 🤯 Here's the scoop on "Back Tap": ⚡️ Quick Setup: Settings > Accessibility > Touch > Back Tap You’ll see two choices: “Double Tap” and “Triple Tap.” Each lets you tell your phone to do something when you tap its back twice or three times. 🎯 Cool uses: ✅ Take a quick screenshot ✅ Use your camera quickly ✅ Mute ringer instantly ✅ Turn on the flashlight 🤔 What would you use Back Tap for? Share your ideas below! #iPhoneTips #ProductivityTricks

Have You Heard of the "Mega Backdoor Roth"? 📊 How it works: Make after-tax contributions to your 401(k) Convert those contributions to a Roth IRA or Roth 401(k) 2024 Limits: Standard 401(k) limit: $23,000 ($30,500 if 50+) Mega Backdoor potential: Up to $69,000 total ($76,500 if 50+) 🔑 Key Points: ✅ Bypasses Roth IRA income limits ✅ Allows for tax-free growth ✅ Not all 401(k) plans offer this choice ⚠️ Important considerations: Tax implications of conversions Impact on employer matching Your overall financial goals Current vs. future tax rates This post is not a replacement for real-life advice. Your tax professionals can help you learn more about the tax implications of a mega backdoor Roth. 🔍 Is it right for you? Check if your plan allows: After-tax contributions In-service distributions or in-plan Roth conversions ✅ Once you turn 73, you must take the required minimum distribution from your 401(k). Withdrawals are taxed as ordinary income and may be subject to a 10% federal income tax penalty if taken before age 59½. ✅ With a Roth IRA, to qualify for the tax-free and penalty-free withdrawal of earnings, Roth IRA distributions must meet a five-year holding requirement and occur after age 59½. Tax-free and penalty-free withdrawals can also be taken under certain other circumstances. The original Roth IRA owner is not required to take minimum annual withdrawals. With a Roth 401(k), employer matching with pre-tax dollars is not distributed tax-free during retirement. If you’d like to learn more about Backdoor Roth IRAs or discuss your retirement strategy, feel free to message us. #RetirementStrategy #MegaBackdoorRoth #PersonalFinance

Inflation is coming BACK!! 💸 Inflation is fueled by more money flowing through the system, but many factors are at play. I'll dive into this and what it means for next year during an upcoming webinar. 📈🤔 Whether it’s due to increased government spending or regulatory changes, inflation affects us differently—what the "official number" shows may not match your personal experience with rising costs like rent, insurance, and utilities. 📊💼 Stay informed about what inflation really means for you! Sequoia Wealth Advisors #financialplanning #inflation Kristina Kuprina, CIMA ® Katie Lindfelt

🔌 Does an electric car always save you money? We've heard from more clients asking about electric vehicles (EVs). So, we thought we’d share some of the pros and cons of EVs that you might not be familiar with: Pros: ➕ You may be eligible for a clean vehicle tax credit of up to $7,500 on a new car. But this incentive can change without notice, so you’ll want to consult your tax, legal, or accounting professional. 🔧 EVs have fewer moving parts, which can mean less maintenance. No more 3,000-mile oil changes! ⚡ Driving an EV costs only 3–5 cents per mile, compared to about 15 cents for gas cars. EVLife in April 2024 explained that that’s 3–4 times cheaper! Cons: 🏠 Home charging installation costs can vary widely: $300–$600 for essential equipment and over $4,000 for complex setups, according to 2023 research from Capital One. 🚗 Insurance alert: EV premiums can be higher. Policy prices depend on a wide range of factors, including the specific model. ⚡ Finding an open EV charging port may be challenging, depending on where you live and drive. Hope this was helpful! We help clients explore these types of decisions and integrate them into an overall financial strategy. Feel free to message! #ElectricVehicles #FinancialStrategy #EVOwnership

As we approach the 2024 election, it's interesting to consider how various market sectors might be influenced by the outcome: 1️⃣ Healthcare: Election outcomes can impact healthcare stocks due to potential policy changes. 2️⃣ Energy: Shifts in energy policy can influence both the traditional and renewable energy sectors. 3️⃣ Technology: Regulatory stances can sway investors' sentiments in this sector. 4️⃣ Infrastructure: Campaign promises might include infrastructure initiatives that can influence related industries. 5️⃣ Financial: Proposed changes in financial regulations can impact a wide range of financial institutions. While elections can lead to short-term sector fluctuations, it's important to maintain perspective. History shows that markets have grown over time despite periodic election-related volatility. Remember, your financial plan is designed for the long haul, not just the next election cycle. #Election2024 #MarketSectors #InvestmentStrategy #SectorAnalysis

As we approach the end of the year, it's the perfect time to fine-tune strategies for your financial well-being. At this time, I dive deep into your portfolios, working diligently with Katie, my planning partner, to explore opportunities that can save you money on taxes—both now and in the future. You might not always see the behind-the-scenes work we do, like making strategic trades that might seem unusual at first glance. But each move is part of a carefully planned tax strategy, designed to maximize your financial outcomes in the long term. While this may seem like a technical or even boring process to some, it’s something we get excited about because it’s all about improving your bottom line. We take pride in ensuring that by year’s end, your portfolio is positioned in the best possible way. It’s a busy season, but every meeting and every adjustment we make is part of delivering the best possible results for you. Let’s finish the year strong together! Sequoia Wealth Advisors Kristina Kuprina, CIMA ® Katie Lindfelt #taxstrategies #financialplanning