What Is Tax-Loss Harvesting? | Erik Averill, Brandon Averill | AWM Insights #5

The last month has been a wild ride in the financial markets. At one point, we were down 34% and then all the sudden we have seen a quick rebound where - as of today (April 7) - the S&P is up 24.7% from its 52 week low that had been set on March 23rd. As we mentioned last week, what can happen during these times of flux is that people can tend to rely on asking important questions to the wrong people about what to do with their money. We have seen issues where people have put their trust in experience ("I have lived through this before") rather than expertise ("I'm educated, certified, and experienced in this issue").In today's episode, we highlight another tactic that can prove beneficial for some called Tax-Loss Harvesting. Topics covered include:The importance of expertise over experienceWhat is tax-loss harvesting, and what should I know about it?The two main benefits of tax-loss harvestingWhen does tax-loss harvesting matter?Who should be benefiting from this practice?Are there times you should not employ this tactic?Is it helpful to have multiple investment advisors?Other strategies that can be utilized during this time