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Genovese Burford & Brothers Blog

Read the latest posts from the Financial Advisors of Genovese Burford & Brothers.

Three Reasons to Use a Separate Property Trust for Your Inheritance or Gift

Three Reasons to Use a Separate Property Trust for Your Inheritance or Gift
At GBB we are our clients’ fiduciaries, and we keep our clients’ best interests in mind always.  We continuously look to identify issues that our clients may face, and look for ways to help clients make smart decisions with their money.  When you are the beneficiary of an estate or receive a large gift you most likely want to be a good steward of the assets you receive.     Here are three reasons to consider using a Separate Property Trust to accomplish that. To limit access and maintain control A properly drafted and funded trust you create naming yourself as sole trustee is one way to make sure only you have access to, and the ability to exert any control over the assets you’ve received.  You may have any number of reasons to want to do this including being married to someone that has a propensity to spend. To protect...
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Should I Pay Off My Mortgage When I Retire?

Should I Pay Off My Mortgage When I Retire?
It’s a pretty common question, “Since I’m planning on retiring, shouldn’t I retire my mortgage too?” It makes sense because most likely, your mortgage is your biggest ongoing monthly expense and by eliminating your mortgage, you are freeing yourself from what can be a large cash drain.  Generally speaking, yes, it is a good idea. However, before you plan your mortgage burning party, you may want to consider a few reasons why you may not want to send out the invitations just yet. You are planning on paying it off from your 401(k) or IRA.   For many workers, this is where the vast majority of their wealth lies so it seems like a logical place to withdraw money. However, unless your mortgage is very small, this could be a huge mistake. Money that you withdraw from your 401(k) or IRA (unless it is a Roth) will be taxed at ordinary...
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As the US Economic Expansion Turns 10 Years Old, the S&P 500 Hits All Time Highs. What's Next?

As the US Economic Expansion Turns 10 Years Old, the S&P 500 Hits All Time Highs. What's Next?
As financial advisors, when markets go on strong runs like the one we’ve seen since Christmas, we often get questions about what’s going to happen next.  Clients call us, their investment managers, and want to know whether to keep buying and join the party, or whether profit taking and rebalancing is sensible.  And there are good reasons to wonder, as an unusual set of economic conditions have come together at present.  As of this month, we are now living in the longest economic expansion in U.S. history, beginning its 11th year.  As I write this, the S&P 500 has just closed at another record high.  Job creation in the US rang in at 224,000 new positions for June, well above the monthly average for 2019, and more than double the rate required to absorb new entrants to the labor pool.  One might be forgiven for supposing things were about to...
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When Life Gives You Lemons: Consider a Roth Conversion

When Life Gives You Lemons: Consider a Roth Conversion
Yes, I know how corny that sounds and I know that a Roth conversion won’t quench your thirst during these hot summer days, but it just may help you create something even sweeter- a family legacy of tax-free income. We believe some of the best opportunities for long term success are solidified in the financial lemons thrown our way. Here is a real story of a Sacramento family turning serious lemons that were thrown at them into a legacy for their children. For privacy reasons the client’s names and details have been altered. The Smith family are Sacramento natives who run a successful construction business. They have been family owned for two generations and the two sons, Peter and Ken were responsible for running and growing the business. The Smith Brothers spent their careers building local homes with Smith Construction since college. Both Peter and Ken were involved in the...
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Genovese Burford & Brothers Named to 2019 Financial Times 300 Top Registered Investment Advisers

Genovese Burford & Brothers Named to 2019 Financial Times 300 Top Registered Investment Advisers
June 27, 2019– Genovese Burford & Brothers is pleased to announce it has been named to the 2019 edition of the FinancialTimes 300 Top Registered Investment Advisers. The list recognizes top independent RIA firms from across the U.S.  This is the sixth annual FT 300 list, produced independently by the Financial Times in collaboration with Ignites Research, a subsidiary of the FT that provides business intelligence on the asset management industry. RIA firms applied for consideration, having met a minimum set of criteria. Applicants were then graded on six factors: assets under management (AUM); AUM growth rate; years in existence; advanced industry credentials of the firm’s advisers; online accessibility; and compliance records. There are no fees or other considerations required of RIAs that apply for the FT 300. The final FT 300 represents an impressive cohort of elite RIA firms, as the “average” practice in this year’s list has been in...
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