Tips from the Pro’s: How do you get the most out of your retirement? – ABC 4

(ABC4 Utah) Janeen is joined by Brian Decker, Owner and Founder of Decker Retirement Planning to talk about how Donor Advised Funds work, along with Tax Loss Harvesting and how to get the most out of your retirement.

A Donor Advised Fund or DAF, is where Brian and his team create for their clients a tax credit in a year when you have a very large taxable event. Let’s say you sold a company, stock, real estate or you have a very large bonus that creates a taxable event. 

In another segment, Brian did they helped clients avoid paying capital gains on company sales, selling stock, or real estate. If you have a taxable event this year and you want and need some tax credits and you’re charitably inclined such as paying tithing to your church every year at the rate of $30K per year. With the Donor Advised Fund, you pay 5 years of tithing at $150K and get a large tax credit to offset your taxable event.

Each year, at year-end, a wise investor should be reviewing their portfolio for losses. For example, a friend of yours says that DocuSign stock is going to the moon! You choose to buy it for $300 and now it is $150.

This is where you should take advantage of that loss! 

Sell DocuSign at $150 and offset that loss with a huge gain in Amazon. Wait 32 days and buy back Amazon and also DocuSign to avoid a Wash Sale transaction. During the 32 days, you are out of your DocuSign and Amazon positions, you can put those funds into the QQQ Nasdaq so that you participate if the market rises for those 32 days.

In the Spring of 2020 Oil stocks took a beating, now is the time to sell those stocks, buy the ETF OIL, and offset those losses with the huge gains you have in other stocks. Tax-loss harvesting should be an important part of any portfolio management strategy.

If you’d like to learn more visit the Decker Retirement and Planning website to get your free Safer Retirement toolkit. The free toolkit includes 2 books and a sample income plan to help you learn more about what your retirement could look like.

Brian and the team at Decker Retirement Planning are here to help.


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