Are You Prepared to Take Advantage of the Soaring Stock Market?

Are You Prepared to Take Advantage of the Soaring Stock Market?

Are You Prepared to Take Advantage of the Soaring Stock Market?

With all the turmoil going on in Washington and new reports of wrong doing popping up every day, you might not have noticed the stock market lately. However, if you haven’t been paying attention, the market is doing quite well. That is good news for everyone, but it could be especially beneficial to those about to retire.

If you are nearing retirement, and you plan carefully, you could line things up just right to get a huge tax break. When you call it quits and no longer receive a salary, you could end up paying no money on your long-term capital gains. That means you can get away with some nice gains and not give the IRS any of it.

Not everyone is eligible for this tax break, however. Only those in the bottom two tax brackets can get the 0 percent rate. You also have to plan your withdrawals carefully, because if you cash out too much at once, the influx could push you to a higher tax bracket and thus eliminate the 0 percent rate.

Therefore, you need to be mindful of when you sell and do it at the right time. The first two years of your retirement is usually a good time to try this. You also need to pay attention to your full income for the given year so you do not withdraw too much and trigger a higher tax bracket rate.

After you withdraw the money it’s yours to use however you like, but you might also consider buying the asset right back, which allows you to keep your current asset allocation. This could mean lower taxes now and increased future capital gains down the road.

 

We hope you found this article about “Are You Prepared to Take Advantage of the Soaring Stock Market?” helpful.  If you have questions or need expert tax or family office advice that’s refreshingly objective (we never sell investments), please contact us or visit our Family office page  or our website at www.GROCO.com.  Unfortunately, we no longer give advice to other tax professionals gratis.

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Alan Olsen, CPA

Alan Olsen, is the Host of the American Dreams Show and the Managing Partner of GROCO.com.  GROCO is a premier family office and tax advisory firm located in the San Francisco Bay area serving clients all over the world.

Alan L. Olsen, CPA, Wikipedia Bio

 

 

GROCO.com is a proud sponsor of The American Dreams Show.

 

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The American Dreams show was the brainchild of Alan Olsen, CPA, MBA. It was originally created to fill a specific need; often inexperienced entrepreneurs lacked basic information about raising capital and how to successfully start a business.

Alan sincerely wanted to respond to the many requests from aspiring entrepreneurs asking for the information and introductions they needed. But he had to find a way to help in which his venture capital clients and friends would not mind.

The American Dreams show became the solution, first as a radio show and now with YouTube videos as well. Always respectful of interview guest’s time, he’s able to give access to individuals information and inspiration previously inaccessible to the first-time entrepreneurs who need it most.

They can listen to venture capitalists and successful business people explain first-hand, how they got to where they are, how to start a company, how to overcome challenges, how they see the future evolving, opportunities, work-life balance and so much more..

American Dreams discusses many topics from some of the world’s most successful individuals about their secrets to life’s success. Topics from guest have included:

Creating purpose in life / Building a foundation for their life / Solving problems / Finding fulfillment through philanthropy and service / Becoming self-reliant / Enhancing effective leadership / Balancing family and work…

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MyPaths.com (Also sponsored by GROCO) provides free access to content and world-class entrepreneurs, influencers and thought leaders’ personal success stories. To help you find your path in life to true, sustainable success & happiness.  It’s mission statement:

In an increasingly complex and difficult world, we hope to help you find your personal path in life and build a strong foundation by learning how others found success and happiness. True and sustainable success and happiness are different for each one of us but possible, often despite significant challenges.

Our mission at MyPaths.com is to provide resources and firsthand accounts of how others found their paths in life, so you can do the same.

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