StampNotes

BLOG, COMMENTARY, AND NEWS

Financial Thoughts from a New Grandfather

By Frank Francese \ December 15, 2019

I was given a new nickname this week. “Pops!” I became a grandfather. In response, I immediately let my imagination run wild and scoured the web for “tiny baseball mitts” and “really small golf clubs,” but my practical side reappeared and I thought: “what would be the most prudent action for a grandfather to take now that this little guy has entered the world?” While not a complete list, here are a few things to consider with your advisor. WILLS…

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Year-end-tax-savings-strategies

Important Year-End Tax Planning Ideas for Individuals and Businesses

By Cary Stamp \ December 13, 2019

  Leading financial advisor Cary Stamp, CFP® provides five year-end tax planning ideas: three for individuals, and two for businesses. Ideas include tax loss selling, avoiding high mutual fund capital gains, bunching deductions on Donor Advised Funds, end of year equipment or vehicle purchases, and maximizing retirement plan contributions.   TRANSCRIPT: I’m Cary Stamp and this is a Principled Wealth Moment. Today I’d like to share a little bit about what we’re sharing with our clients about year- end tax…

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Estate-Tax-Planning

Estate Planning 101: A Beginner’s Guide to Estate Planning Basics

By Contributing Staff \ December 11, 2019

An Introduction to Estate Planning Strategies Do you have a will or estate plan? Many individuals and families overlook the need for estate planning in the belief that if they don’t possess significant wealth or a complicated situation, a plan is not required. At Cary Stamp & Co., we believe every individual and family should establish some level of “estate plan,” whether simple or sophisticated.  Wills Ever heard the saying, “He’s going to try to control the money from his…

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Donor-Advised-Funds

Launch a Legacy of Tax-Efficient Giving with a Donor Advised Fund

By Josh Weller \ November 28, 2019

Considering charitable giving on a larger scale? A Donor Advised Fund is your simplest, least expensive, and most tax-efficient option. In brief, a Donor Advised Fund serves as your own tax-advantaged, donor-controlled philanthropic fund. The fund can be established easily through a broker-dealer, your financial advisor, or if you have a specific charity in mind, you may establish the fund directly with a 501(c)(3) tax-exempt charity, or charitable foundation. All it takes is an initial minimum contribution of $5,000 in…

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Thanksgiving is About Family

By Cary Stamp \ November 18, 2019

We established a tradition that ensures we enjoy both sides of our family at Thanksgiving.  A few years ago, I began a tradition with my family of celebrating Thanksgiving two to three weeks before the actual holiday. This wasn’t an original idea, as another family that I knew also had been participating in this tradition for many years. I loved the idea. We often had trouble getting the entire family together for a holiday. A big challenge for married people…

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MEET THE TEAM:
Patrick Thompson
Chief Operating Officer

By Josh Weller \ October 16, 2019

Duty, Faith, and Family “In my teenage years, as I was heading out of the house for the evening, my Dad would say ‘Patrick, don’t forget you’re representing our family. Act accordingly.’ It was an upbringing steeped in faith and responsibility, and I’m glad it was. It seems to have turned out well.” Born in West Palm Beach, FL and raised in Fort Worth, TX, Patrick Thompson’s life has been all about the importance of family, the grounding nature of…

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Using 529 Plans to Maximize Education Savings and Minimize Taxes

By Contributing Staff \ September 27, 2019

The cost of college tuition continues to increase every year with most college planning experts projecting a 6% annual increase each year. One might ask, “How do I save for my child’s college education if I cannot even afford the costs now, let alone in the future when my child enters college?” In previous generations, if your family was fortunate enough to save for college, they simply put money in a savings account (or a mattress). Today, the government has…

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Must Read if You Own Company Stock in a 401(k) or other Corporate Retirement Plan

By Robert Taylor \ September 12, 2019

The Net Unrealized Appreciation (NUA) Tax Strategy: If you work for a corporation that offers company stock inside a 401(k), ESOP, or profit sharing plan, the Net Unrealized Appreciation tax planning strategy (described below) can produce substantial tax savings. This is especially true for long-time employees possessing stock that has appreciated significantly. Net Unrealized Appreciation (NUA) is defined as the difference between the original cost basis of the company shares (the amount you invested) and the current market value. It…

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Charitable Giving and Philanthropy Through Donor Advised Funds

By Cary Stamp \ August 28, 2019

   TRANSCRIPT of Charitable Giving and Philanthropy: I’m Cary Stamp and this is a Principled Wealth Moment. Most of the families that we work with are charitably-inclined. One of the things that a lot of people don’t realize is, with the new tax laws, there are some ways that you should be making your charitable contributions that are far more effective for you from a tax perspective and can also add some significant value to your family. Often, we…

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Answers to Frequently Asked Questions about Sustainable ESG Investing

Answers to FAQs About Sustainable/ESG Investing

By Josh Weller \ August 26, 2019

Does Sustainable Investing require accepting lower returns? This is a myth. Performance tracking against benchmarks suggests that investors who are in alignment with their values and beliefs are now achieving competitive or better returns than traditional (depending on the specific investment). Keep in mind that ESG data is now available on every large cap stock on the planet and the majority of mid caps. As a result, many of the world’s high profile companies have high ESG scores. Furthermore the…

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Buy-Sell Agreements: What Every Business Owner Should Know

By Contributing Staff \ August 15, 2019

As a business owner, your focus is on daily operations and growing the business. Consequently it can be difficult to carve out time to consider long-term issues and contingency planning such as ensuring the continuity of the business should anything happen to you or a partner. For most business owners, such planning requires establishing a Buy-Sell Agreement. To help you determine if such an agreement is right for your business, it’s important to understand what it is, how it works,…

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Protect Your Business with Key Man Life Insurance and Deferred Compensation Plans

By Cary Stamp \ August 14, 2019

  TRANSCRIPT: I’d like to discuss how providing for your employees can be great for your company. I like to talk with our business owner clients about what would happen to your business if for some reason one of your key employees died or became disabled. And unfortunately, this touches all too close to home. One of our clients owns a construction business and recently, they lost their senior vice president of operations—just a very unfortunate situation, totally unexpected. This…

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Financial Advisor Rob Taylor

Rob Taylor, CFP® CLU® Accepted into Leadership Palm Beach County Engage Program

By Josh Weller \ July 20, 2019

Taylor one of 56 professionals selected for esteemed program *** OFFICIAL RELEASE *** (WEST PALM BEACH, FL) July 20, 2019 – Financial advisor Rob Taylor, CFP®, CLU®, of Cary Stamp & Co. has been accepted into the 2019-20 Leadership Palm Beach County (LPBC) Engage program. The Leadership Engage program is a highly competitive 10-month program which offers participants a powerful new network and a transformative learning experience, with the intent to better Palm Beach County. Participants, who come from diverse industries…

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Your Financial Advisor Should Be Collaborating with Your Accountant and Estate Attorney

By Cary Stamp \ July 18, 2019

If you have somebody who understands the big picture and is bringing your financial/accounting/legal advisors together, you will achieve far better outcomes for your family’s financial and estate planning. TRANSCRIPT: Today’s subject is the concept of collaboration. I firmly believe that as a financial advisor and CERTIFIED FINANCIAL PLANNER that I should be in contact with the attorneys and accountants that also represent my clients. If we put together a team for the families that we work with, we can…

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Cary’s Mid-Year Report & Outlook

By Cary Stamp \ July 13, 2019

My mission is to help successful families live lives of abundance, possibility, and adventure.   The first half of 2019 has been fantastic for CS&C, my family, and the clients we serve. I was fortunate to begin the year with an overdue trip to Machu Picchu with my father. In May, Sharon and I spent time in Italy and France, and I recently returned from a trip to Scotland to play golf with good friends. While this may sound excessive,…

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What is Sustainable/ESG Investing, and How It Differs from “Socially Responsible Investing” of the Past

By Josh Weller \ July 12, 2019

“Sustainable Investing aims to identify companies that offer potential for strong financial returns while also demonstrating a commitment to sustainable business practices and positive impact. Sustainability is typically evaluated through analysis of environmental, social, and governance (ESG) policies, practices, and performance.” * Excerpt, Putnam Investments, “What is sustainable investing?”  Decades ago, I lived in a lovely New England seaside town where there was a street-level storefront touting a novel idea called “Socially Responsible Investing.” On occasion, while strolling around town…

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Crypto-Currency, the Blockchain and Your Portfolio

By Cary Stamp \ March 25, 2019

I am attending the Barron’s Independent Summit in Salt Lake City for the next few days. Ric Edelman, a well-regarded advisory firm founder, author and entrepreneur has assembled a group of experts to discuss the future of digital currencies. I admit that I have been a skeptic, so I wanted to understand what the proponents and futurists had to say on the topic. A couple of years ago I received frequent questions about Bitcoin, Etherium and other types of crypto…

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Why You Should Talk to Your Kids About Your Wealth

By Cary Stamp \ March 15, 2019

If you were born during the baby-boom generation, then it is not very likely that your parents shared information with you about their finances. Perhaps, in their final years or when one parent passed away, they might ask for help but the prior generation was fairly tight-lipped about money. That generation lived through the depression, saw what real hard times looked like and knew the importance of having a rainy-day fund. They probably frequently said “we cannot afford that” whether…

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Make Tax Time less taxing (Next Year)

By Cary Stamp \ March 6, 2019

As we prepare for tax season, it is a good idea to start thinking about how we can structure our finances, investments and charitable planning to give us a better outcome a year from now. The following are a few ideas we are discussing with our clients;   Bunch your charitable giving. With a standard deduction for a couple at $24,000 and a state and local tax deduction limited to $10,000, many people will no longer be able to itemize.…

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Tips for Parents of Millennials—How to be a Financial Role Model for your Kids

By Cary Stamp \ January 17, 2019

Few children come by wealth management naturally. For most young children, money just buys stuff. As they age, they think philanthropy sounds good, but it competes with immediate gratification. Real estate and taxes are complicated. Securities and the markets in which they trade are mostly intangible. Despite the barriers, you can teach your adult children wealth management skills and values, and you’re not alone. You can use your financial advisor to assume a coaching and teaching role. Think of your…

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