Importance of Collaboration between your CPA and Financial Advisor

Financial Matters with Richard Oring

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تمت الإضافة منذ قبل four أعوام

المحتوى المقدم من Richard Oring. يتم تحميل جميع محتويات البودكاست بما في ذلك الحلقات والرسومات وأوصاف البودكاست وتقديمها مباشرة بواسطة Richard Oring أو شريك منصة البودكاست الخاص بهم. إذا كنت تعتقد أن شخصًا ما يستخدم عملك المحمي بحقوق الطبع والنشر دون إذنك، فيمكنك اتباع العملية الموضحة هنا https://ar.player.fm/legal.

American Criminal

1
The Menendez Brothers | Five-Year Plan | 1 43:56

منذ 1 year43:56

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إعجاب

احب

43:56

On August 20th, 1989, Lyle and Erik Menendez shot and killed their own parents. Until then, this Beverly Hills family had been a portrait of the American Dream. How did it go so wrong? To listen to all four episodes of 'The Menendez Brothers' right now and ad-free, go to IntoHistory.com . Subscribers enjoy uninterrupted listening, early releases, bonus content and more, only available at IntoHistory.com . If you or someone you know is in crisis, there is free help available at mhanational.org Learn more about your ad choices. Visit megaphone.fm/adchoices…

منذ 3 أعوام 49:52

MP3•منزل الحلقة

As the tax landscape ever changes, it becomes more important for your CPA and Financial Planner to collaborate.

In this episode of the Stuff About Money podcast, Erik Garcia, CFP®, and Xavier Angel, CFP® are joined by fellow financial advisor Richard Oring and CPA Douglas Ziegler, to discuss why you want two of your most important advisors to be in communication.

Are you minimizing capital gain taxes? How many opportunities are you missing on your tax return? You also may be surprised what these two seasoned financial professionals say they wish they would have known about money when they were younger. School is in session.

29 حلقات

Financial Matters with Richard Oring

Importance of Collaboration between your CPA and Financial Advisor

Financial Matters with Richard Oring

published منذ 3 أعوام

MP3•منزل الحلقة

As the tax landscape ever changes, it becomes more important for your CPA and Financial Planner to collaborate.

29 حلقات

كل الحلقات

Financial Matters with Richard Oring

1
Insights from an Industry Expert Kevin Caron. 48:22

منذ 1 year48:22

48:22

Have you ever wondered how Federal Reserve's interest rate changes can affect the market? Well, Kevin Caron, a seasoned Portfolio Manager from Washington Crossing Advisors, drops by to decode the world of finance. With his in-depth knowledge and expertise, we explore current cash, bond, and stock environments, and discuss the impact that interest changes have on the market. Moreover, Kevin also unravels the potential benefits that can be reaped by savers due to these increases. As we delve deeper into the complexities of the financial world, we discuss the challenges that young investors might encounter in today's market. The soaring prices of stocks, the looming prospect of the stock market taking a pause, and the impact of the top seven stocks on the S&P 500 are all examined. Guiding us through this labyrinth, Kevin shares advice on how to kick-start the investment journey and navigate the potential obstacles. We also scrutinize the lucrative potential of treasury bonds as a retirement investment strategy and contemplate the effects of inflation and interest rates on bonds. In the final part of our enlightening discussion, we question the conventional growth and value investing paradigm. Could the mentality of a bond investor unlock a more effective way to make investment decisions? Kevin offers a unique perspective on this, suggesting that looking at companies as being high quality or low quality, much like a bond investor would, could simplify investment decisions. Wrapping up, we also touch upon the importance of portfolio diversification and the invaluable role of professional money managers. So, tune in to gain insights and tips on navigating the financial markets, and equip yourself with tools for a secure financial future.…

Financial Matters with Richard Oring

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Hidden Perks of 529 Plans under the New Secure Act 2.0 20:49

منذ 1 year20:49

20:49

Want to uncover the hidden potential of 529 plans and the new twists introduced by the Secure Act 2.0? Wondering how this could be the game changer in your child's college fund or even your first-time home purchase? Then this episode is a goldmine waiting to be discovered. We unpack the quirks and benefits of 529 plans, investment plans that not only allow you to save for a beneficiary but also let you withdraw tax-free. We also delve into the changes brought by Secure Act 2.0, particularly how it now allows grandparents to contribute more towards their grandchild's college fund and the opportunities it presents for the Roth IRA. In the second half of this insightful conversation, we turn our spotlight to the benefits of both Roth IRAs and 529 plans, and how they can be instrumental in funding your child's private K-12 education. We also crack open the 'Rule of 72', a simple yet powerful way to calculate the compounding effect of your investments over time. Further, we reveal how the Secure Act has widened the gates for parents to access their Roth IRA and the unique advantages of 529 plans, including tax-free withdrawals and the control they accord you over your funds. To conclude, we navigate the maze of managing 529 plans and the value of a robust financial planning strategy. Our team stands ready to help you make sense of 529 plans and other financial products, without any sales pressure. We also touch on important disclosures regarding our branch office, and the services offered through Oseic Wealth Incorporated and New Century Financial Group LLC. As always, we recommend seeking the counsel of a tax specialist for personalized advice. So, buckle up for this journey of financial enlightenment.…

Financial Matters with Richard Oring

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The Role of Trusted Contacts in Money Management 24:14

منذ 1 year24:14

24:14

Have you ever considered how to ensure your financial accounts' safety? Let's discuss the importance of trusted contacts in maintaining financial security. The Finra Rule 2165 is specifically designed to protect individuals over 65 years old or with a mental disability. We will also cover common scams targeting seniors and why keeping your trusted contacts up-to-date is crucial. We will also share real-life examples that illustrate how trusted contacts can safeguard clients. FINRA Video for Trusted Contact NCFG - Blog Post on Trusted Contact…

Financial Matters with Richard Oring

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What Is a Fiduciary? 22:26

منذ 2 years22:26

22:26

What is a fiduciary? This is a question that Richard Oring is frequently asked by his clients at New Century Financial Group. When looking for an advisor, it's an important question to ask. A fiduciary is an individual or organization legally required to manage a person's assets for that person's benefit, not their own. Being a fiduciary means a financial advisor is held to a higher standard when making decisions for his or her clients. Fiduciaries must follow "duty of care" and "duty of loyalty" - Rich explains what these terms mean and entail. It's also important to understand how your financial advisor is compensated - are the commission only, fee only, or fee-based (a combination of the two)? The important thing to remember when looking for a financial advisor is to ask questions. This can be a confusing field, but your future is too important to simply make assumptions. And a good financial advisor will make sure your questions are answered. You can always reach out to Richard Oring and his team at New Century Financial Group. You can schedule an appointment from their website: https://ncfg.com/ Or you can reach out directly to Rich: ro ring@ncfg.com Or call him at (609) 924-2049, extension 126.…

Financial Matters with Richard Oring

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I Bonds Explained 16:27

منذ 2 years16:27

16:27

With the market volatility we've experienced in 2022, many folks are looking at different types of investment vehicles. One that Richard Oring's clients have been asking about lately is the I Bond. Today, Rich explains what they are and more. I bonds are securities issued by the US Treasury, that are 20 year notes and continue paying interest for an additional 10 years, for 30 total. They can be purchased electronically or by paper. Rich explains the differences, and the limits on what you can buy. The interest rate on I bonds is comprised of a Fixed Rate plus an Inflation Rate - and we go through how these numbers add up for you, using a specific example for illustration. These I Bonds are exempt from state and local taxes, and the interest can be used to help pay for qualified higher education expenses, with restrictions. Rich explains those. As with all financial decisions, your situation is unique. Before making an investment, talk to your financial advisor, and/or CPA. You can also research this topic more at https://treasurydirect.gov/ You can always reach out to Richard Oring and his team at New Century Financial Group. You can schedule an appointment from their website: https://ncfg.com/ Or you can reach out directly to Rich: ROring@ncfg.com Or call him at (609) 924-2049, extension 126.…

Financial Matters with Richard Oring

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Year End - Tax Harvesting 21:15

منذ 2 years21:15

21:15

There are many things you should consider when it comes to end-of-year tax planning, but today Rich and Jag are focusing on Tax Loss Harvesting. To understand tax loss harvesting, we will want to define terms. Rich walks us through cost basis, capital gains (long and short term), capital losses (long and short term), carry-over losses, and the Wash Rule. Tax loss harvesting is when you take your investment losses for the year and use them to offset your investment gains, lowering your tax burden. Also, in years where your losses more than offset your gains, you can carry that over many years, using $3,000 of losses each year. Rich walks us through the many benefits of tax loss harvesting, but also some of the pitfalls. The Wash Rule comes into play here, harvesting is only for taxable accounts, and excess short-term trading can lead to headaches. If you want to know more about tax loss harvesting (this might be the year to use it), or anything related to your finances, you can reach Rich at New Century Financial Group: https://ncfg.com/ By email at roring@ncfg.com or by phone at (609) 924-2049, extension 126,…

Financial Matters with Richard Oring

1
How To Measure Portfolio Performance 21:59

منذ 3 years21:59

21:59

How can I tell how well my portfolio is performing? Through this podcast, it's Richard Oring's goal to educate listeners about managing their money. Today, he and Jag look at different ways to evaluate the performance of your portfolio. First, it's important to understand your strategy and overall objective - is it retirement, savings or something else? Next, we look at total return - and the elements that come together to give you a total return. Then, what time periods do we use to evaluate total return? And what benchmarks can we use in this analysis? Rich then breaks down some market turns in a way for us to understand, including standard deviation, beta, alpha, R-squared, Sharpe Ratio and Sortino Ratio. More: https://www.investopedia.com/ https://seekingalpha.com/ To talk to Rich thee terms or anything related to your financial future, reach him at (609) 924-2049, extension 126, go online to https://ncfg.com/ , or send Rich an email. ROring@ncfg.com.…

Financial Matters with Richard Oring

1
Do Young Adults Need a Financial Advisor? 26:48

منذ 3 years26:48

26:48

Do I need a financial advisor if I'm in my 20's? There's a stereotype that financial advisors are only for older adults - either in or approaching retirement. And that's simply not true. Today, Richard Oring of New Century Financial Group sits down with Jag to talk about why young adults need a financial advisor. Having a financial advisor early in your working years can be like having a coach who gets you into strong practices and habits for your entire career. Through this relationship, you can talk about everything from debt and budgeting to job offers, life transitions, and unforeseen circumstances. Rich also talks about how he structures his planning fees to make plans affordable for younger clients. Want help planning your financial future no matter what your age? Reach Rich at ROring@ncfg.com , or give him a call at (609) 924-2049, extension 126…

Financial Matters with Richard Oring

1
What You Need to Know About Bonds 21:53

منذ 3 years21:53

21:53

Investing in bonds can be an important part of your overall portfolio. But many investors find them confusing. Today, Richard Oring and Jag break down what you need to know. Stocks are pretty straightforward - if you buy a stock, you own a percentage of a company. Bonds, on the other hand, mean you are buying part of a company's debt. Rich explains. While bonds aren't for everyone, they do have some advantages, including diversification, capital preservation, and income generation. There are many types of bonds, including corporate bonds, municipal bonds, and treasury securities. Typically, they are offered in $1,000 increments. Rich explains the different terms related to bonds, including coupon rate, maturity, yield to maturity, callable, yield to call, yield to worst, duration, discount, and premium. We also cover the different risks involved with bonds - interest rate risk, reinvestment risk, default risk, and more. Mentioned in this epsiode: https://treasurydirect.gov/ To talk to Rich about bonds or anything related to your financial future, reach him at (609) 924-2049, extension 126, go online to https://ncfg.com/ , or send Rich an email. ROring@ncfg.com.…

Financial Matters with Richard Oring

1
Using a Loan for Home Renovations 28:57

منذ 3 years28:57

28:57

There are many loans available for homeowners who want to renovate their homes. Today, Richard Oring of New Century Financial Group is joined by Bobby Dmuchowski, VP of Mortgage Lending at Guaranteed Rate. Bobby explains the advantages of going to a mortgage broker, as opposed to going to your bank. He also talks about the differences between HELOC (Home Equity Line of Credit) and renovation loans. We cover Fannie Mae and HFA loans, fixed vs. variable rates, closing costs, underwriting, and how funds are dispersed. Rich also cautions our listeners to look at IRS publication 936, which deals with home mortgage interest deduction. You can view that here: https://www.irs.gov/forms-pubs/about-publication-936 . United States Veterans have a number of options available to them through the VA - with much more flexibility than civilians have access to. Bobby, Rich, and Jag explain that. There are many types of loans out there, including VA, FHA, Convention, Nonconforming, and more. And there are also many ways, with the advent of technology, to get your loan. Depending on your preference, you can coordinate over the phone, text, or online. Contact Bobby via cell or text: (908) 295-8609 Contact Richard Oring at New Century Financial Group: 609-924-2049, extension 126, or by email at ROring@ncfg.com Website: https://ncfg.com/…

Financial Matters with Richard Oring

1
Importance of Collaboration between your CPA and Financial Advisor 49:52

منذ 3 years49:52

49:52

As the tax landscape ever changes, it becomes more important for your CPA and Financial Planner to collaborate. In this episode of the Stuff About Money podcast, Erik Garcia , CFP®, and Xavier Angel , CFP® are joined by fellow financial advisor Richard Oring and CPA Douglas Ziegler , to discuss why you want two of your most important advisors to be in communication. Are you minimizing capital gain taxes? How many opportunities are you missing on your tax return? You also may be surprised what these two seasoned financial professionals say they wish they would have known about money when they were younger. School is in session.…

Financial Matters with Richard Oring

1
Addressing Financial Literacy in the Black Community 24:53

منذ 3 years24:53

24:53

Today, Rich and Jag welcome Xavier Angel, out of New Century Financial Group's New Orleans office. Rich and Xavier thought Black History Month would be a good time to address the issue of financial literacy in the Black community. Xavier cites the percentage of households below the poverty line for White., Black, and LatinX households. The differences are stark. How did we get here? As a Black financial advisor, Xavier can cite examples of systematic inequalities that he's witnessed firsthand. Rich and Xavier get along very well because of similar values - both were raised to give back to the less fortunate. In fact, Rich cites a video about the importance of giving, as part of Home Depot's onboarding process. (and not being recognized for it). You can see that video here: https://vimeo.com/146029996 Xavier discusses financial literacy - conversations that he's having with all clients, regardless of race or ethnic background. This includes the importance of having an emergency fund, the power of home ownership, and the need to make sure your credit report is accurate. If you'd like to connect with Rich in New Jersey, or Xavier in Louisiana, feel free to reach out. Xavier@plan-wisely.com ROring@ncfg.com Or call 609-924-2049 - Xavier at extension 505 or Rich at extension 126…

Financial Matters with Richard Oring

1
Financial Planning Is For Everyone 20:45

منذ 3 years20:45

20:45

January is a time to re-consider your financial goals. Today, Richard Oring of New Century Financial Group explains why financial planning is no longer for only the rich - it's something that is accessible to everyone. You should start a financial plan in order to develop real, tangible goals and work toward them. These can include education planning, retirement planning, big purchases, estate planning, tax planning, investments and more. A financial plan can also lead to better financial communication with your spouse! There are many different models of financial planning, including subscription based, goal based, and advanced planning. Chances are, there's a plan that's right for you. To contact Rich at New Century Financial Group: www.ncfg.com Or call: 609-924-2049 x126…

Financial Matters with Richard Oring

1
Life Insurance Explained 34:43

منذ 4 years34:43

34:43

Life Insurance is a very important aspect of your financial future. But it can be very confusing. Today, Richard Oring of New Century Financial Group breaks down everything you need to know about Life Insurance. Why do I need life insurance? What can life insurance protect? Can part of my life insurance benefits be donated to charity? What are the tax implications of life insurance? Next, Rich breaks down the pros and cons of different types of life insurance, including: Term Life Insurance Whole Life Insurance Variable Universal Life (VUL) Insurance Universal Life Insurance Riders and Loans from Cash Value Finally, we talk about the important aspects of selecting life insurance, medical underwriting, and the importance of being educated before making a decision. For help with this or any aspect of your financial future, reach out to Rich at New Century Financial Group: Phone: (609) 924-2049, extension 126 Website: www.ncfg.com Email: roring@ncfg.com…

Financial Matters with Richard Oring

1
What a Financial Planner Does 36:35

منذ 4 years36:35

36:35

Today, Richard Oring of New Century Financial Group and co-host Jon "JAG" Gay cover the field of financial planning - what financial planners do and who needs one. We all have coaches for different aspects of our lives and financial planning is no different. That's where a planner comes in, and with increased advertising in the field, baby boomers retiring, and the impact of COVID-19, demand for financial planning has never been higher. There are different pricing models that financial planners use, including traditional, AUM (assets under management), or a combination of the two. A newer model that Rich prefers is a subscription model, with an upfront fee then monthly, quarterly, or semi-annual fees. Comprehensive planning (or holistic planning) is much different than simple or goal-based planning, which can be much narrower in scope. Comprehensive planning can include insurance planning, retirement planning, investment, tax, education, and so much more. To contact Richard Oring, call him at 609-924-2049 or email him at roring@ncfg.com . You can also schedule an appointment directly from our website: https://www.ncfg.com/schedule/…

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