Thoughts and musings from my desk to you.
We get puzzled looks from new clients when we explain our position on taxable fixed income (bonds) in IRAs. Traditional planning advice recommends placing your highest growth assets in an IRA to maximize the tax deferral. We usually recommend the complete opposite approach, which becomes more and more preferable the higher the income of the current or future retiree.Read More
From Financial Advisor to Published Author: Gil Baumgarten’s Multi-Faceted Success
Our very own Gil Baumgarten was featured on CIO View’s May 2023 cover as an “Influential Finance Executive to Watch in 2023.” Gil shares the journey of his career, how to navigate the tax code, and his future plans for Segment Wealth Management.Read More
Just in time for Tax Day 2023, Gil talks tax strategy with the Houston Business Journal.
“With tax season upon us, it seems an appropriate time to discuss tax strategy with a local specialist. Investors might assume that the frontline professionals for advanced tax strategy are CPAs. However, some investors find that their CPAs work retroactively, focusing on preparing tax returns more than strategizing with their clients about optimal ways to reduce or eliminate taxes. Our highlighted executive today is not a CPA but has four decades of investing experience while navigating IRS rules and has developed a reputation as a specialist in reducing tax friction in his clients’ investment portfolios.”Read More
Gil published a piece in Forbes Council titled, “Death and Taxes: Not So Certain After All.”
After years of writing about the subject, long-time readers will surely realize how degrading taxes are to returns. With market liquidity at all-time highs and trading commissions now free, investors are seemingly incentivized to trade their accounts. The math is simple right? All one must do is spot a better opportunity and taxes are just a part of the game, right? Yes, but how big of a part?Read More
Gil penned a piece describing the evolution of his billion-dollar advisory practice in Financial Advisor Magazine!
“Many advisors get stuck in the path of least resistance methods and never evolve to scale.”
“Over my nearly four decades as an advisor, I’ve seen quite an evolution in my practice. There was a day when I would take on new clients with $2,000 IRAs, and I would buy securities for them as their whims dictated. I figured out what they thought worked, and I aligned my recommendations to their biases. My goal was to amass assets and aligning with client predispositions seemed the path of least resistance. But I began to realize that my practice would have no common themes if I allowed it to develop this way.”Read More