Financial Matters with Richard Oring

Today Richard Oring of New Century Financial Group and Jag are joined by Bill Cass, Director of Wealth Management Programs at Putnam Wealth Management in Boston.
With Democrats now in control of the White House, and both houses of Congress, we've received many questions from clients on what that will mean for taxes going forward. This is one of Bill's many areas of expertise. We look at the the pending COVID relief bill, what can be passed, and what may be done through the process of budget reconciliation - Bill breaks it all down in an easy way to grasp.
After we get through COVID relief, the Biden tax plan will likely come into focus. Bill and Rich cover what may happen with corporate taxes, FICA, and personal taxes as well. And how do capital gains charitable giving, and the alternative minimum tax figure in to the math? Also, how might estate taxes change?
Finally, could we see an extension of some aspects of the CARES Act in 2021? How might that, and the current state of the market affect your RMD's? Is it a good time to look at a ROTH conversion?
Resources:
Putnam Wealth Management Website (and Bill's Blog): https://www.putnamwealthmanagement.com/
Charts:
Should I consider doing a Roth Conversion? https://newcenturyfinancialgr-my.sharepoint.com/:b:/g/personal/roring_ncfg_com/EZ-Wxah3Rx1Bo4bmHcxZkx4B59SI1iaEFkBVIDBjcfU3ig?e=bOPjKl
Can I make a backdoor Roth Contribution? https://newcenturyfinancialgr-my.sharepoint.com/:b:/g/personal/roring_ncfg_com/EUV0lLN6I4ZKqaC1ttcGR4sBjddnlvrKJhpE79stzmghfQ?e=BK7lQ6
Can I make a MEGA Roth backdoor Contribution? https://newcenturyfinancialgr-my.sharepoint.com/:b:/g/personal/roring_ncfg_com/EbknGLg50QhEvTHpDJlJJscBYqwKogWXPSO-WnGLoti5Kw?e=xOk0HK
Contact Richard Oring at New Century Financial Group:
New Century Website: https://www.ncfg.com/
Call Rich: 609-924-2049, x126
Email Rich: [email protected]
Address: One Airport Place, Suite 3
Princeton, NJ 08540
Securities offered through Royal Alliances Associates, Inc. (RAA), member FINRA / SIPC. Investment advisory services offered through New Century Financial Group, LLC RAA is separately owned and other entities and/or marketing names, products or services referenced here are independent of RAA.

Branch Office One Airport Place, Suite 3, Princeton NJ 08540 Phone: (609) 924-2049

IMPORTANT CONSUMER INFORMATION:

A broker-dealer, investment adviser, BD agent, or IA rep may only transact business in a state if first registered or is excluded or exempt from state broker-dealer, investment adviser, BD agent, or IA rep registration requirements, as appropriate. Follow-up, individualized responses to persons in a state by such a firm or individual that involve either effecting or attempting to effect transactions in securities or the rendering of personalized investment advice for compensation, will not be made without first complying with the appropriate registration requirement, or an applicable exemption or exclusion.

For information concerning the licensing status or disciplinary history of broker-dealer, investment adviser, BD agent, or IA rep, a cons

Today, we visit with Richard Oring's former intern (and nephew) Aaron Kravitz. Aaron is about to graduate a 5-year program at Penn State University with a bachelor's and masters degree in accounting.
Not only did Aaron have to navigate the usual challenges of college life - time management, accountability, and budgeting - but he is also finishing his university career in the middle of a pandemic. This of course brings a new set of challenges.
Classes are virtual with different preferences of different professors, and even the social life is very different on campus - from bars and restaurants to not being able to go to Nittany Lions football games.
While Aaron was in school, he did two very different internships - one with Deloitte & Touche in New York, and the other with Rich at New Century. Both were great learning experiences, but we look at the comparison between interning at large and small companies. Incidentally, Rich speaks very highly of the work that Aaron did on marketing materials for NCFG.
The advice that Aaron provides is relevant for all college students - not just during COVID. He talks about budgeting, spending the necessary time on coursework, and finding a way to stand out among your peers (and not just with grades).
And of course, we share a funny story about Rich's sister, who happens to be Aaron's Mom.
Resources:
New Century Financial Group Website: https://www.ncfg.com/
Rich's email: [email protected]
New Century Phone Number: (609) 924-2049
To Review The Podcast: https://lovethepodcast.com/financialmatterswithrichardoring
Check the background of your financial professional on FINRA’s BrokerCheck.

The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. Please consult legal or tax professionals for specific information regarding your individual situation. Some of this material was developed and produced by Advisor Evolved to provide information on a topic that may be of interest. Advisor Evolved is not affiliated with the named representative, broker-dealer, state – or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security.

Securities offered through Royal Alliances Associates, Inc. (RAA), member FINRA / SIPC. Investment advisory services offered through New Century Financial Group, LLC RAA is separately owned and other entities and/or marketing names, products or services referenced here are independent of RAA.

Branch Office One Airport Place, Suite 3, Princeton NJ 08540 Phone: (609) 924-2049

IMPORTANT CONSUMER INFORMATION:

A broker-dealer, investment adviser, BD agent, or IA rep may only transact business in a state if first registered or is excluded or exempt from state broker-dealer, investment adviser, BD agent, or IA rep registration requirements, as appropriate. Follow-up, individualized responses to persons in a state by such a firm or individual that involve either effecting or attempting to effect transactions in securities or the rendering of personalized investment advice for compensation, will not be made without first complying with the appropriate registration requirement, or an applicable exemption or exclusion.

For information concerning the licensing status or disciplinary history of broker-dealer, investment adviser, BD agent, or IA rep, a consumer should contact his or her state securities law administrator

This communication is strictly intended for individuals residing in the state(s) of AL, AK,&

Richard Oring's phone has been ringing off the hook with calls from clients panicked over the coronavirus and what effects it will have on their investment accounts. Today we cover some important things to remember.

When you set up your portfolio, you start with goals and what you need to achieve to get there. Once you have the plan in place, stick to the plan instead of letting your emotions get the best of you.

One of the most challenging parts of Richard's job is managing client expectations. He walks us through his process and the safeguards he uses with client accounts.

And finally, the three questions you should ask yourself:

• Am I comfortable with the amount of money I have lost?
• Have my goals changed since I started this account?
• Is there liquidate assets from this account if I need to take out money which won’t result me from selling something in distress?

Meet Richard Oring, of New Century Financial Group. Richard's unique background in taxes and accounting give him a unique 360 degree view of financial planning.

Learn more:

New Century Financial Group Website

Call Richard: 609-924-2049 x126

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.