• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Home
    • Subscribe/Donate to Inside Press Magazines During the COVID-19 Crisis
    • Issue Archives
    • Site Map
  • Cover Stories
    • Chappaqua Cover Stories
    • Armonk Cover Stories
  • Happenings
    • Westchester
  • Inside My New Castle
  • Just Between Us
    • Chappaqua Just Between Us
    • Armonk Just Between Us
    • From the Editor
    • Letters to the Editor
  • Health & Fitness
  • Single & Smart
  • Et Cetera
    • Worth a Thousand Words

The Inside Press

Magazines serving the communities of Northern Westchester

  • New Castle News
    • New Castle Releases
  • North Castle News
    • North Castle Releases
  • Subscribe/Donate
  • Gotta Have Arts
    • Book Excerpts
  • Lifestyles with our Sponsors
    • Sponsor News!
    • Words & Wisdoms From Our Sponsors
  • Advertise
    • Answers to Your Questions, or Contact Us!
    • Subscribe/Donate to Inside Press Magazines During the COVID-19 Crisis
    • Online Advertising

Getting a Strong Start to 2018

March 8, 2018 by The Inside Press

By Scott M. Kahan

It’s almost spring and now is the time to give your finances a “spring cleaning!”

With the stock market sell off and continued volatility after record highs, interest rate increases, new tax laws and the ongoing uncertainty as to what is going on in Washington, now is the time to organize. Here are a few quick things to address to get started.

  • Review your portfolio. With the return of volatility in equity prices and rising interest rates, it’s probably a good time to review your asset allocation. A simple way to re-balance your portfolio is to first set what percent of your portfolio should be in each asset class. Then when reviewing your portfolio, the sectors that have gone up will be over weighted and should be reduced, while the underperforming sectors will be under weighted and can be added to. If you follow this practice, it forces you to sell high, buy low and take the emotions out of investing.
  • Review Your Taxes and Cash Flow. New tax laws have ushered in much confusion. With a limitation of $10,000 for SALT deductions, (State and local tax), along with various other impactful changes, now is the time to review your 2018 taxes. Even though you may be in a lower tax bracket, you still could end up paying more tax due to the lower allowed deductions. Check your withholding tax to make sure you are not under or over paying your taxes during the year. Then look to see if you are fully funding your retirement plans and look for all possible deductions to minimize your income tax. When you file your 2017 taxes, make sure to do a projection for 2018 as well.
  • Review Your Estate Planning. When was the last time you looked at your wills and other estate planning documents? Make sure all beneficiaries are in place in retirement accounts. Review to make sure you have named guardians for minor children. If you have avoided setting up your estate plans, now is the time to address this important issue.

A simple review can help bring focus to your overall financial picture. A qualified Certified Financial Planner Professional can help ensure your financial affairs are consistent with your current and long-term goals and objectives. Get a strong start for 2018!

Filed Under: Lifestyles with our Sponsors Tagged With: advice, Financial Asset Management, financial planning, money, Scott Kahan

Reader Interactions

Primary Sidebar

Support The Inside Press

Follow our Social Media

The Inside Press

Instagram

Visit Our Sponsors

Desires by Mikolay
William Raveis – Chappaqua
William Raveis – Armonk
Hickory & Tweed
Houlihan Lawrence – Armonk
Houlihan Lawrence – Chappaqua
Annie B. Shop
Compass: Miller-Goldenberg Team
Compass: Natalia Wixom
Compass: Kori Sassower
World Cup Gymnastics
Northern Westchester Hospital
Douglas Elliman Chappaqua
Douglas Elliman Armonk
Your CBD Store
Sotheby’s – Stacee Massoni
Mount Kisco Child Care Center
New Castle Physical Therapy
Rocks by Jolie B Ray
Willowbrook Swim & Tennis Club
Houlihan: Danielle Orellana
Bueti Brothers
Houlihan: Alicja Bohmrich
Le Jardin du Roi

Download our Latest Issues

Inside Chappaqua PDF Inside Armonk PDF Inside Briarcliff PDF Inside Pleasantville PDF Discover New Castle PDF

Join Our Mailing List


Search Inside Press

Links

  • Advertise
  • Contact Us
  • Subscribe

Footer

Recent Posts

  • CANTORS COAST TO COAST Presents Songs of Sustenance
  • VIRTUAL DUMPLING CLASS WITH DALE TALDE OF GOOSEFEATHER
  • Two Holocaust Education Events Planned for Late January
  • Governor Cuomo Announces Impaired Driving Crackdown During Holiday Season
  • Westchester County Announces Additional Funding for Local Businesses, Nonprofits
  • Tara Mikolay Jewels and Generosity Add a Special Sparkle through the Holidays

Categories

Archives

Subscribe

Did you know you can subscribe anytime for the print editions of either Inside Chappaqua, Inside Armonk–or both?

Voluntary subscriptions are most welcome, if you've moved outside the area, or a subscription is a great present idea for an elderly parent, for a neighbor who is moving or for your graduating high school student or any college student who may enjoy keeping up with hometown stories.

Subscribe Today

Copyright © 2021 The Inside Press, Inc. · Log in