In Business Development, a Little Luck Goes a Long Way

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Financial Advisor – September 2013

Baseball Hall of Famer Lefty Gomez was often heard to say, “I’d rather be lucky than good.” Advisors who hit pay dirt through a fortuitous introduction or a random round of golf can probably relate to that sentiment. It’s tempting to think that if one stroke of fortune can bring in more assets than months of business development, you might as well just sit back and wait for the next stroke. But although you can’t make luck happen, you can — and should — make the most of it when it does.READ MORE

Making the Connection…Building the Network

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 Puget Sound Business Journal – September 13, 2013

Reynolds was 37 and managing director of Coldstream Capital ManagementDierks was 36 and vice president of special projects for the American Cancer Society’s

Northwest division.  Both were celebrating their 40 Under 40 Awards at the Hollywood Schoolhouse in  Woodinville.  They became fast friends, confidants. They bonded over things they both liked to do —  hiking, fishing and skiing. Today, that bond has only grown. Their families barbecue  together. They seek each other’s advice for business opportunities. They are on each other’s “personal board of directors,” or informal advisory network.

READ FULL PSBJ ARTICLE

Consider Dividend-Paying Stocks

In this low interest rate environment, income-minded investors, who have some tolerance for risk may find dividend-paying stocks attractive.  In fact, nearly 40% of S&P 500 companies have dividend yields above the 10-year US Treasury bond yield.

The appeal of dividend-paying stocks is easy to understand as they can provide investors with regular income regardless of market conditions. In addition, many dividend paying companies increase their dividends over time thereby creating a growing cash flow over time versus the fixed coupons of bonds.  It is important to note, however, that equities typically exhibit a higher volatility of returns than bonds, and the underlying company may choose to increase, decrease, and/or eliminate the dividend at any time.  Regardless, we consider dividend paying equities an important part of a well-diversified income-generating portfolio.READ MORE

Tax Filing Reminders….

The filing due date for your individual income tax return is coming up and is due on April 15, 2013.  If you are not going to be able to file your return on time, you can request additional time by filing an extension by the April 15th due date.  The extension gives you an additional six months; until October 15th to file your return.   However, it’s important to note the extension does not give you any extra time to pay any taxes due.  If you do not pay the taxes that you owe by the April 15th due date, you will owe interest on the taxes due and you may owe penalties as well. READ MORE

A Refreshing Twist to the Pitfalls of Sudden Wealth Syndrome

In 2009, Sports Illustrated estimated that 78% of NFL players are bankrupt within two years of ending their careers, and that 60% of NBA players are broke within 5 years of retiring. Although not as dismal, Lottery winners also have an extremely poor track record of successfully retaining their wealth. Many of these individuals suffer from Sudden Wealth Syndrome (SWS), a term coined by Dr. Stephen Golbart and Joan Di Furia of the Money, Meaning & Choices Institute (MMCI) in the late 1990’s. Through their investment advisory firm’s dot com and lottery winner clientele, they witnessed a host of psychological issues that they associated with the stresses of new or sudden wealth resulting in financial disasters.READ MORE

Income Tax Planning Considerations for 2013

As we reach the mid-year point, much attention will be paid to the reduced income tax rates, known as the “Bush Tax Cuts,” slated to expire at the end of this year.  In addition, there are other new taxes and changes in tax deductions and credits that may affect your tax planning.  These changes may have an impact to your investment making decisions.READ MORE

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