8 Financial To-Dos Before Year-End - 68

Joe Anderson, CFP® & Alan Clopine, CPA discuss the importance of properly diversifying your 401(k) in episode 68 of the YMYW podcast. Plus, should you invest in real estate or index funds? How you can determine stock loss with a non-public company? Finally, 8 financial tasks you must do by year-end. Original publish date September 24, 2016 (hour 2). Note that content may be outdated as rules and regulations have changed.

00:00 - Intro

00:53 - “Why do I need to diversify my 401(k)?”

03:57 - “Bonds are there to even out the ride, to even out the overall portfolio.”

05:57 - “When you take a long-term average of asset classes, more often than not emerging markets is either the top performing asset class.”

11:05 - “Should I invest in real estate or index funds?”

15:35 - “If you are so inclined to do real estate, treat it as if it were a business, a company or another job because there’s a lot to it. There are a lot of things that can go wrong.”

21:32 - “How do you determine stock loss in a non-public company?”

26:42 - “When you have rental real estate and you sell that at a loss, that’s considered business with a tenant and you can generally take an ordinary loss.”

27:23 - “What is the best way to transfer or refinance through a quit claim?”

32:45 - “If you would like to go through a comprehensive retirement planning course, go to our website at purefinancial.com to learn about the course.

35:27 - “Rebalance your portfolio, and that could potentially create tax loss harvesting.”