Category: Blog 2020

The Financial Action Checklist

From radio to TV to social media, the how-to lists on managing money and building wealth are a gracious plenty. Some are good and some are less so. Our FIT™ Perspectives Podcast team recently began to work through some of the most notable of these resources to consider how we would re-prioritize the “steps” and further expand upon some very over-simplified guidance. The outcome is the “Financial Action Checklist” (FAC) and it is designed for those who not only desire financial stability but seek pure financial independence.

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2020 Tax Code Changes: What You Need to Know

Most of us have either filed or are wrapping up our 2019 tax filing by this point.  A common question we receive is what will happen to taxes after the election?  Government spending has increased (especially in response to COVID-19 packages) and an increase in revenues will be needed.  Of course, finding consensus on where to increase taxes will not be likely.  At Atlanta Financial Associates, we pay much attention to proposed changes and right now that is all they are, possibilities.  Often, leaders float ideas to see what gains traction.  A couple of the proposals being ‘floated’ right now include…

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Why People Who Spend Money on Experiences are Happier

When we spend money on ourselves and the people we care about, we’re likely doing more than simply buying things. On a deeper level, our ultimate goal is to create feelings of happiness, satisfaction and well-being. 1

But are we actually spending our money in the best ways to achieve those results? Many of us spend in ways that do little to help us get what we truly want. Researchers say that there is a relationship between how we spend money and happiness, so the good news is that we have the opportunity to shift our spending patterns to help increase our happiness and help us create more meaningful lives. So, where do we begin?

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Narrow Market

Those following the stock market may realize that the S&P 500 hit a new all-time high on 9/2, building on the August 18th high which wiped out all its losses from the coronavirus sell-off, and surpassing the previous high of February 19th. However, a CNBC analysis shows that many stocks have yet to climb back to their prior levels. For example, between the prior market high on February 19th and August 18th, when the market first surpassed the previous high, 38% of stocks in the index made gains while the remaining 62% were still negative.

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IRS Releases 2020 “Dirty Dozen” Tax Scams

Each year the IRS releases a Top 12 or “Dirty Dozen” tax frauds and scams they are seeing in an effort to warn taxpayers of things to be on the lookout for.  I read this each year and the list includes several of the usual suspects but also has some new additions.  You can read the entire IRS list here (IRS Dirty Dozen 2020), but I wanted to highlight a couple of items that I believe are most relevant to our readers…

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Achieving Peak Performance: Financial Lessons We Can Learn From Athletes

Athletes are often treated like superheroes. For good reason, too – they undergo rigorous training, develop astounding mental strength and achieve what we call mental and physical peak performance. Studies even show that student-athletes are more likely to have better academic and behavioral performance.1

Today, though, we aren’t talking about physical fitness. We’re talking about financial fitness — the mindset with which you approach your finances actually isn’t so different from an athlete’s approach to their sport. 

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Hear How Atlanta Financial Makes Life’s Journey Richer

Atlanta Financial TV is home to a variety of videos that allow clients and associates to obtain knowledge, insight and experience. Tune in to learn more about our approach to comprehensive wealth management.to comprehensive wealth management.

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