Today’s Hack:
Mutual Funds have long been a very popular way for people to invest, but is that landscape changing? Let’s explore this investment option, explain some key terminology, and determine what the future might hold for mutual funds.
Click the timestamps below to jump ahead in the episode…
Other Retirement Facts:
Chances are you and everyone you know has invested in a mutual fund at some point. It’s long been considered a great tool to build your retirement portfolio, but is that landscape shifting?
Let’s shed a little light on this subject by diving into it on this episode of Phil’s Tax Hacks. Mutual funds can be very beneficial but as more options and opportunities arise, does it still make sense to look towards these funds first?
Practically 100% of the clients that come into our office own mutual funds and that’s fine. But do you understand everything about them? What is an expense ration? What does it mean if a mutual fund is backloaded versus frontloaded? We want to explain these key terms along with tax considerations you need to be making so you can determine if mutual funds are a strong option for you.
We’ll also discuss President Trump’s decision to make Florida his permanent residence and whether our clients are considering out of state retirements. And we’ll close the show by taking a mailbag question about what you should be trying to accomplish in the final year before retirement.
Check out the entire episode in the audio player above or click on the timestamps below to learn how to address some of these awkward financial conversations.
1:19 – Getting ready for the holidays and the new year.
2:49 – In the News: President Trump recently made Florida his permanent residence. Do you see that often from your clients in Michigan?
5:26 – Mutual funds have been a popular investment option but is that trend changing?
6:08 – What percentage of your clients own mutual funds when they first come to see you?
6:53 – Explain ‘expense rations’ for us.
8:29 – What does the term ‘loaded’ mean?
11:18 – What tax considerations do you have to keep in mind for mutual funds?
12:45 – Do you feel like mutual funds are going away?
15:33 – Mailbag Question: I’ll be retiring in exactly one year. What’s on the list of things I need to do before I walk away?
A Quotable Moment:
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Additional Resources:
- Phone: 248.888.7530
- Email: pputney@afswealthmgt.com
- Schedule A Visit With Phil
