Do any of these financial question marks apply to you?

How Can I Ensure My Wealth is Transferred According to my Wishes?

How Can I Ensure My Wealth is Transferred According to my Wishes in Case of an Unexpected Event?

Estate planning is often thought of as tax planning.

While taxes can be important, your estate plan should reflect what is most important to you: your care; family legacy; and your community or social legacy. If you have no plan, the state in which you live will devise a plan for you, at great expense in both time and money. To ensure your wealth is transferred according to your wishes, you should be prepared with the following at a minimum:

  1. A durable power of attorney, which grants the power, to someone you trust, to make financial decisions on your behalf during any period of incapacity.

  2. A health care directive, which provides written directives to your health care providers about the level of care you choose for yourself, absent any ability to speak directly for yourself.

  3. A will, which clearly indicates who shall receive your assets upon your demise.

An estate planning attorney can prepare these documents for you, after you express your wishes. An important consideration in putting these plans in place is the structure of your investment portfolio, and how it will support your goals. Pacific Portfolio Trust Company can help you work through that analysis, and then implement a portfolio strategy on your behalf.

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3Q 2024 Market Letter
3Q 2024 Market Letter

TRUE GRIT

Some of you may already be familiar with the work of psychologist and popular TED talker Angela Duckworth on the concept of grit, which she refers to as “passion and perseverance for very long-term goals;” the dictionary, meanwhile, defines grit more broadly as an ability to display courage and resolve in the face of challenge.

From a pragmatic, “big picture” perspective, this could easily be making reference to the entire process of investing; certainly, this long-term practice we are pursuing together requires a healthy degree of grit from which to draw the courage, conviction, and discipline to prudently grow our clients’ wealth in pursuit of their – of your – most important long-term goals.

1Q 2024 Market Letter
1Q 2024 Market Letter

For the time being, the market continues to take “Good News” as good news, but inflation trend bears watching, as this could become the catalyst that shifts investors’ mindset.

4Q 2023 Market Letter
4Q 2023 Market Letter

Why the long face? Another year in the can, all wrapped up nice and festive with a pretty little bow, Santa Claus rally and all! Any investor with the nerve to complain that they did not get everything on their Christmas list should at least have been able to find solace in the market’s recent move to all-time highs, so let’s just keep the tidings of comfort and joy rolling all the way through 2024, right?!

3Q 2023 Market Letter
3Q 2023 Market Letter

You’re no doubt hearing a lot about how remarkably “resilient” the U.S. economy has been looking lately.  Despite the Fed’s move to hike interest rates sharply higher over the past 18 months, economic growth in the U.S. has managed to remain in positive territory in recent quarters, steadily exceeding economists’ expectations in the process. 

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2Q 2023 Market Letter

The Fed is on pause.  No, wait!  Cancel that: it may just have been a “skip” masquerading as a “pause.”  Okay, so more interest rate hikes to come then.  One?  Two?  Certainly not more than two!? And those 2023 rate cuts that markets have been pricing in since early March?  Oh, okay; those are gone too now. 

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1Q 2023 Market Letter

TO BUY, OR SAY “GOODBYE!” …THAT IS THE QUESTION

Verily, ‘tis so! As the Ides of May grow nigh, investors are in a state of consternation to rival that of the Prince of Denmark himself as they ponder whether it be nobler – or financially more astute – to go “all-in” (Shakespeare, too, was apparently a big Texas Hold’em player) or move to the sidelines and check back in on the markets some time in the late Fall. If, perchance, either of those two extremes looks particularly appealing to you right now, I beg you heed my warning and reframe the question lest ye suffer the financial equivalent of a tragic ending.

Take Control of Your Finances: Celebrate Financial Literacy Month with These Essential Tips!
Take Control of Your Finances: Celebrate Financial Literacy Month with These Essential Tips!

Financial literacy is vital for everyone, as it involves having a working knowledge of money management. Without essential financial skills like budgeting, investing, and retirement planning, life can become much more difficult. Financial Literacy Month provides an opportunity to prioritize financial literacy and take advantage of resources to improve your financial situation now and in the future. Here are 6 tips to help you get started.

WASHINGTON STATE CAPITAL GAINS TAX
WASHINGTON STATE CAPITAL GAINS TAX

The Washington State Supreme Court has ruled that the excise tax on capital gains is constitutional and valid. As such, the Department of Revenue will continue collecting the tax which is due April 18, 2023. A filing extension will be granted if the taxpayer files a federal extension and requests a Washington extension prior to the original due date, but the tax must still be paid in full by April 18th (April 15th in future years). Any tax paid after that date is subject to a late payment penalty of up to 29% of the tax due.

How to Eliminate Debt
How to Eliminate Debt

Not all debt is bad, but reducing the debt you have can give you more options both now and later. Are you curious about what key strategies you can deploy to reduce your debt? Keep reading to learn about effective debt reduction strategies and solutions.