018: End of Year Planning Tips to Take Advantage of a Bear Market

Financially speaking, 2022 has been a tough year. We've all been dealt a handful of lemons, the markets are in a uniquely difficult position, and your portfolio is likely down from the highs of 2021. So, with all of that in mind, how can you turn your lemons into lemonade? Today, we're sharing some tips and strategies that we've been recommending to our clients to take advantage of the opportunities that exist before 2022 draws to a close. If you're looking to improve on a difficult situation and position yourself for future success in the years to come, there are a number of things you should consider doing before the new year. In this episode, we'll discuss how we landed in an extended bear market for the first time in 14 years, how diversification and tax loss harvesting can help to take advantage of what some see as a bad situation, and why long-term financial planning matters–regardless of what the market is doing.  In this podcast interview, you'll learn: How stimulus spending has led to a financial "detox" in the form of this bear market. How to use after tax and harvesting losses to reposition assets and bank yourself against future gains. When to meaningfully use Roth conversions to grow money at a substantial tax discount. Why you should still max out your retirement contributions where possible. Why retirees 65 and over need to review their Medicare coverage to avoid leaving money on the table. Want the Full Show Notes? To get access to the full show notes, including audio, transcripts, and links to all the resources mentioned, visit SHPfinancial.com/podcast Connect With Us on Social Facebook LinkedIn YouTube