From the Desk of Andy Hammond

On the Desk

The last few months of the year are always a busy time. We’re helping our clients with year-end planning, tax strategies, and budgeting that comes into play with 2024 just around the corner.

Last year, the name of the game was tax loss harvesting, and we still have room to be strategic on that front. ROTH IRA conversions, gifting to children, and charitable contributions provide additional avenues to move money in tax-smart ways.

It’s also a good time to assess budgetary needs and opportunities. Sometimes that means making tough decisions. But sometimes it means I get to enjoy one of my favorite parts of my job: helping you use your wealth to have some fun.

There’s a common misconception that the only way to approach financial security is to save, save, and save a little more. It’s true that, during your wealth accumulation phase, you have to make long-term savings a priority. However it’s also true that, to boil it down to basics, you only live once.

I’m a big proponent of the idea that balance is everything. You have a certain number of chips to use. So if you have enough stockpiled for retirement, go ahead and think about that major trip you wanted to take, the second home, and those other items that will bring you joy now.

Off the Desk

September brings a new rush of activity for our family, with our twins in high school and our youngest in middle school. The pace picks up, soccer games fill the weekends, and we spend a lot of time in high gear.

That’s a return to reality for my wife and me. We had the pleasure of disappearing for a couple weeks this summer to celebrate our anniversary with a trip through Greece. We had an amazing experience and even had the benefit of meeting up with another AAFCPAs partner, Vassilis Kontoglis, for dinner. Athens is his home city, and it was a treat to have him guide us through an incredible traditional meal at an outstanding restaurant.

I hope you created some lasting memories this summer, too. I look forward to talking with you about making more of those!

AAF Wealth Management is a Registered Investment Adviser. Advisory services are only offered to clients or prospective clients where AAF Wealth Management and its representatives are properly licensed or exempt from licensure. This blog is solely for informational purposes. Past performance is no guarantee of future returns. Investing involves risk and possible loss of principal capital. No advice may be rendered by AAF Wealth Management unless a client service agreement is in place.