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Genovese Burford & Brothers Blog

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

Foreign Stocks - Why Now?

Foreign Stocks - Why Now?
Download our foreign stocks breakdown, written by GBB Financial Advisor, Jonathan Deeringer. Download here.
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3 Habits Wealthy People Share

3 Habits Wealthy People Share
Hello friends, Kelly Brothers here, and I just wanted to share with you a question I frequently get from clients and prospects, especially those who are still building toward retirement.  They ask me, “What are some things we can do to ensure we can live a comfortable retirement?” I want to share some things I’ve noticed that many of our clients who are living a comfortable retirement have in common. 1. Wealthy People Understand Delayed Gratification Have you heard of the famous “marshmallow experiment?”  Many years ago, hundreds of 4-6 year-olds were brought one by one into a room and seated at a table.  A single marshmallow was placed in front of them.  Each child was told they had a choice: eat the marshmallow now or wait for the adult to come back and they would get two marshmallows.  The kids able to control themselves and “delay gratification” were subsequently...
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How Combination Retirement Plans Create Business Tax Savings

How Combination Retirement Plans Create Business Tax Savings
It’s a question I get frequently: “My business is doing really well, but my tax bill has skyrocketed.  Is there anything I can do to reduce taxes?”  As a Financial Advisor with a focus on small business owners, I am regularly in a position to help owners and CEOs think about their businesses.  While the conversations frequently hinge on succession, strategy, or management challenges, they just as often gravitate toward questions of estate planning and tax saving tactics for business owners.  A couple years ago, I was out playing golf with a friend, and we were paired up by the Starter with a gentleman playing alone.  The three of us struck up a conversation, and were enjoying each other’s company, when at the start of the back nine, the single asked me about my job.  Upon hearing Financial Advisor as the answer, he said “You know, my company has seen...
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4 Mistakes to Avoid When Inheriting an IRA

4 Mistakes to Avoid When Inheriting an IRA
Let’s face it.  Inheriting an IRA can be a stressful time in people’s lives.  Understandably, we are usually busy and distracted, which is when it is easiest to make a simple mistake.  When inheriting an IRA, these types of mistakes can end up becoming very costly. There are different rules for spouses who inherit an IRA and for everyone else who inherits an IRA.  We will be looking at 4 mistakes you want to avoid as a non-spouse beneficiary when going through this process.   Not Taking a Required Minimum Distribution Most people know that once they reach the age of 70 ½ they are required to withdraw money from their IRA.  While this is the case with their Traditional IRAs, an Inherited IRA is treated differently.  The IRS requires that the person inheriting an IRA, take withdrawals over a specified period-of-time, at least annually.  This could be all at once...
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Should You Save for Retirement or College?

Should You Save for Retirement or College?
As the school year approaches, many parents are faced with the daunting task of saving for retirement and their children's education at the same time. Being a parent is one of the most rewarding experiences life has to offer. However, it does bring its challenges and responsibilities, including saving for retirement and your child’s college education simultaneously. When you stop and look at college tuition prices, it’s easy to get overwhelmed with the thought of saving for both. Our financial advisors have worked with many families in this position, and have some tips to help you get started. Put Yourself First With fewer of us receiving pensions and Social Security’s future in doubt, saving for your retirement may be your only significant source of income in retirement. There are grants, loans, scholarships and other ways of funding college, but there are no retirement loans. Your child will also have an...
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