Personal Finance


By Lee Sherbakoff, CPA/PFS™, CFP®, RICP® We’ve all heard of the tortoise and the hare. The hare is quick and sure-footed, while the tortoise is slow and cautious. They enter into a race, and the hare is certain he will win—so certain that he decides to take a nap midway through. The hare oversleeps, lo and behold, the tortoise wins the race! From this simple fable came the age-old advice: Slow and steady wins the race. Though it’s...

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By Lee Sherbakoff, CPA/PFS™, CFP®, RICP® It’s no secret that inflation is wreaking havoc on Americans’ spending right now. Commentators and analysts have been busy discussing the dramatic rise of inflation and whether it is “persistent” or “transitory.” What may have seemed like a slight inconvenience at first is now becoming a much larger issue as people watch their buying power degrade right before their eyes. As the holiday season...

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By Lee Sherbakoff, CFP/PFS, CFP, RICP  The reality is you owe taxes whenever you make money—or, in IRS terms, when you’ve realized gains. After selling an investment at a higher price than what you paid for it, capital gains tax is waiting right around the corner for a slice of your profit. But there are ways to minimize what you owe in taxes so you can keep as much profit as possible. However, before you do anything, always seek...

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By Lee Sherbakoff, CPA/PFS, CFP®, RICP® Regardless of whether you purchased your home long ago or have only been there for a few years, downsizing can be an enticing option for many people as they near retirement. There are plenty of reasons to sell and seek out a house that is smaller and a better lifestyle fit. On the flip side, there are also reasons to stay in your current home. Let’s look at some pros and cons so you can make the...

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“With regard to interest rates, we continue to expect that it will be appropriate to maintain the current 0 to ¼ percent target range for the federal funds rate…” — July 28, 2021, Statement by Jerome Powell, Chair of the Federal Reserve of the United States Inflation worries surface Inflation has not been a persistent and serious threat to the economy since the 1970s and early 1980s.  And that’s largely because the Fed knows how...

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By Lee Sherbakoff, CPA/PFS, CFP®, RICP® The American dream of owning a home—complete with a white picket fence—dies hard; after all, it’s that iconic symbol of financial independence. And with record-low inventory, low interest rates, and high demand, (1) the housing market is currently booming now more than ever. Since most of us don’t have the luxury of purchasing a house in full, after the stress and drama of house hunting is over,...

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