Helping you live the best life possible with the money you have!

August 2020

Dear Readers,

Summer is flying by, and thank goodness tax season is finally over! We are updating our mid-year tax plans right now, so if you have any news that might affect your 2020 taxes, please shoot us an email. Things like:

• Rental income decreasing
• Job changes
• Unemployment income
• Lower expenses that lower your portfolio withdrawal needs - if you don't NEED to withdraw money from an IRA for your expenses, we can always do fun stuff like Roth conversions instead!

And another reminder that RMDs have been waived for this year, so if we haven't already talked to you about cancelling your 2020 distribution and you're uncertain about whether you should, give us a call.

Speaking about tax stuff, Chris recently spoke about tax stuff! Presenting a nationwide webinar for financial planners through SSG, he discussed tax planning options like tax bracket management, 0% capital gains harvesting, paying Roth conversion taxes from a taxable account, and if you're still reading this sentence I applaud your tenacity! 

Chris had me edit his presentation, which really just meant adding in pictures to make the slides look pretty. Do you know how many stock images they have for "tax planning"? Not many. We ended up with a picture of a bunch of grapes to symbolize "charitable bunching." This was the most relevant stock image I found, but I loved it so much I wanted to share it here:

In other important news, Chris's son finally called him George Washington one too many times, so he got a haircut. Note, too, the fashion-forward mask accessory. Here at Natural Bridges, we are safe and stylish.

Natural Bridges Blog Posts

Retirement Planning Considerations for Couples With an Age Gap

Traditional retirement planning is less effective when spouses stop working at different ages. But there are also some potential benefits to staggering retirements. Make sure your retirement plan is tailored to your situation.

A Guide to Dividing Your Estate Unequally

There is a difference between an equal inheritance and an equitable inheritance. Here are some things to consider as you plan out your legacy.

Thinking About Moving Closer to Your Kids? 4 Financial Implications to Consider

Chris loves spending time with his grandkids, and by that I mean "throwing nerf balls at his grandkids' heads". Being close to your kids can be great. It can also be financially beneficial - and here are some ways to weigh the financial pros and cons of a move.

Natural Bridges Personal Updates

Anabel and I continue our agonizing grind of studying so that we can get our CFP certification and become just like our role model and favorite boss ever, Chris. The CFP exam (which is six hours long) (and you have to wear a mask the whole time) was postponed from July to the end of September. 

So since we're studying so hard, you get to study with us. Yes, there will be a quiz later. Here are my flashcards to memorize the lists of homeowner's insurance exclusions and covered perils.  

Did you know that your homeowner's insurance doesn't cover a nuclear blast? Now you do!

It does, however, cover damage if an airplane falls out of the sky onto your house. Wow, that's so interesting. No way will I forget that before the test on September 28th. No sirree Bob.

Okay, so that's two flashcards down, only five hundred and eleven to go. Come by the office anytime to watch us study and throw donuts at us from an acceptable social distance. 

By the way, we have been quizzing Chris nonstop to try and trip him up, and... we can't. "Hey Chris, what's an irrevocable life insurance trust?" "Oh, that's a trust used for estate liquidity. The death benefit isn't taxable inside of the trust, so it's used to pay estate taxes." How does he know all of this stuff? Quite frankly, it's a little disturbing.

Over in Felton, Moana's pumpkin patch has become a pumpkin jungle.  Anabel continues her inexorable conquest of every financial degree possible by getting her Life Planning certification. And both of them are taking gym classes held outside in the gym parking lot - Anabel doing spin and Moana doing Zumba.

We hope you are all getting outside, enjoying the sunny days, and hanging in there!

Much love,

Moana & the Natural Bridges Team

P.S. Here is the quiz: Name all eight homeowner's insurance exclusions. Got them all? Woo! Want to take an exam in September?