Stocks are performing well this year, so consider donating to charities or non-profits you support before year’s end. Donate appreciated securities. If you’re 70 1/2 or older, use the Qualified Charitable Distribution (QCD). You can give up to $100,000. Create a Donor-Advised Fund (DAF). Establish a Charitable Remainder Trust (CRT). The annual gift tax exclusion is $17,000. You won’t receive a tax deduction but can reduce your estate through gift-giving to friends or family. Don’t wait until you die to bless others. #giving
Bill Parrott, CFP®’s Post
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Hubris is dangerous for an investor. A client’s neighbor made a ton of money with the Mag 7 stocks, especially Nvidia, and kept tooting his own horn. Our client wanted to mimic his neighbor and buy the basket of stocks. I mentioned to our client that he owned the Mag 7 stocks and thousands more through his index funds, but it didn’t matter what I said because his neighbor had a bigger bullhorn. Our client purchased Nvidia at the peak, which is now down 20%. Valuation matters and remaining humble is an essential attribute for successful investors.
