Author Archives: John Kvale CFA, CFP

Tax Form Updates – Tax Return Update … So far so good … Rainy Friday

Today a round of Corrected 1099’s are due to show up electronically (not out as of this writing yet) and will automatically be mailed to those of us lucky ones…. Again, you have been notified last week if you were on the corrected list…

Any totally new folks receiving a corrected that were not notified last week?  We will reach out to you … we do not expect any more TOTALLY  new corrected folks ….

Initial Tax Return ThoughtsUncle Sam

We are very happy to announce that the first few tax returns (1040’s) have come through, and they look good (refunds or not paying as much as in years past!)

We hope we are not jinxing ourselves by announcing this so early but wanted to share in the excitement!

There will be some disappointments we are certain, but so far so good!

Friday….

Send the Sun if you can …. Rainy here!

Have a Great “Good Tax News” Friday!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
Management firm.
jkfinancialinc
street-cents

 

Why you may want an Institutional Trustee/Trust Service!

Trusts continue to gain in popularity, both in our office, by the general public, and in their usage and effectiveness in our opinion.

Here in this post is a great summary of Trusts and their various types and uses.

As a reminder, Trusts are not for everyone, they are VERY useful in the correct situation, but in a perfect world, not always necessary…. What follows speaks to those with few other options!

In this preview article of the coming newsletter – (yes we are already working on the Q2 Newsletter) we wanted to dig deeper into the use of and Institutional Trustee or Trust Service.

Why you may need an Institutional Trust Servicephoto-1473186505569-9c61870c11f9

An Institutional Trust Service can be thought of as a formal outside professional entity that will perform the desired services you have requested in your personal Trust.

We cannot be your Trustee or Professional Trust, but the good news is we have a VERY good relationship with a Professional Trust Service that can seamlessly honor your wishes as needed, and allow J.K. Financial to continue to drive the Financial Planning and Investment process.

  • No other comfortable option – Many times a friend/family member is preferred
  • Want an iron clad back up
  • Calming possible family feuds
  • Long lasting legacy desired
  • Desired attention to details such as monthly distributions, bill payments etc.

Are just a few reasons that an Institutional Trust/Trust Service may be just the perfect fit for your Trust!

Have a Great “Perfect Trustee” Day!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
Management firm.
jkfinancialinc
street-cents

1099 Update – Corrected Update – Reminder, a Paper Copy is being mailed UNLESS you specifically turned it off – Holiday Weekend !

Those that follow us know we had a fun conference last week and pretty much burned the candle at both ends… We look forward to bringing you more soon!

Being the last of the four in my gang to NOT get the winter sore throat or flu… and after bragging about not getting sick AT ALL the last four years, those three fingers pointing back at myself came home to roost… GIANT head ache Saturday followed by sandpaper in my throat Monday morning… on the down hill side now….

Corrected 1099 Update1099 sho

Yesterday we sent a blast email out to all of the lucky ones who will be receiving a corrected 1099 printed and mailed one week from today …

If you did not receive the email, so far you are in the clear….

EVERYONE will receive a paper copy of their 1099 – even if you receive electronic copies of everything else – unless you specifically turned your tax copies off – no one we know of has done this and this is the one item we do not recommend you turn off unless you REALLY want to!

Holiday Weekend

Today is Friday, heading into a Presidents Day Weekend – you know the drill … banks, capital markets and those buildings holding our little ones hostage during the day will be closed on Monday – mandating our offices are closed as well… all good, again!

Have a Great “Presidents Day Weekend” Friday!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
Management firm.
jkfinancialinc
street-cents

Wealthiest and Lowest Counties in Every State along with Greatest Differences – Check Your Own State – Friends at Visual Capitalist

We continue to be fascinated with these neat graphics from our friends at Visual Capitalist.

Something about putting the information in Graphic form that makes is easier to read and well…. just more interesting.

If your like us, we immediately go to our home area to see the results!

The very last graphic shows the greatest differences – big city versus a very rural area, usually!

Enjoy:

wealthiest-poorest-counties-us-1070

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
Management firm.
jkfinancialinc
street-cents

 

 

 

Job Change or Retirement? Here is a great reminder checklist – Updated

Books get updated and reprinted on a regular basis. This post is originally from several years back, but worthy of a re-post/update regularly!

So Important

Maybe you are about to Retire… CONGRATULATIONS ! ……Or maybe you are about to change jobs… exciting new times, just around the corner…

Here are a few handy reminders before/as you leave!

Job/Retirement Change ChecklistFinanicial Planning Doc

Grab that Last paycheck– Once you are gone, the internal system may be harder to access, be sure to get your last paycheck downloaded for your tax and personal recordkeeping.

RSU -Options- Grants -Make sure you are not leaving anything on the table via a vesting sunset or time line that can be associated with your departure.

Employee Stock Purchase Plan-Confirm you have control of your stock and transfer it to an easily controlled account-most ESPP plans are only holding tanks and cumbersome to make transactions.

Deferred Comp– Check on when your plan will be paying you your funds- i.e. tax year, time frame, and if all at once or over several series of payments- confirm the payments method and where they will be sent if mailed.

Pension – Get a copy of your latest balance or estimated amount, time frame of payment, if the projection is inclusive of your departure, if your spouse is included as beneficiary and his/her date of birth is correct and MOST IMPORTANTLY your correct address.

Health Coverage– You do not want to go a day without coverage, make sure you have some type of overlap such as Cobra, New company coverage, Medicare or outside personal coverage.

UPDATED NEW REMINDER – Long Term Health Coverage– If you have been at your employer some time (10+ Years usually), check to see if some type of retirement health coverage options are available. Frequently these have a one time option of opting in and if you leave, you will NEVER get another chance. We have found these to be very good options in certain cases.

401k– In most instances you want to take control of your old 401k by rolling into a self directed IRA. Make sure your final paycheck withholding has hit your 401k before you roll it over or there will be residual amount later.

New 401k– In most cases you want to allocate your new 401k aggressively- be careful NOT to overfund your old and new plan in the same year- most maximums are $18k (+$6k catch up) – If your two employers do not know about each other they may accidentally allow you to overfund the total afore mentioned amount

Severance– Be sure to get your arms around the type, amount, timing and pay and benefits.

Social Security Withholding – Withholdings may likely be over withheld since your two employers did not know about each other – keep good tax records- if they did, you get a refund.

While mentioned several times, once more due to just how important, be sure to keep your address up to date with your former employer !

Have a great ‘More Organized” Day!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
Management firm.
www.jkfinancialinc.com
www.street-cents.com

West Coast Conference Update – Donald “The Brain” Shines – JK Almost ends up on CNBC – Friday

The conference kicked off Wednesday afternoon in full force.

Donald “The Brain” Wife, and Youngest FINALLY arrived after the first leg of their flight was cancelled…. New connection through Phoenix –  no that will not work, connecting flight already departed … Connection, and layover in Vegas works – Finally arrived…

Opening Ceremonies

Early yesterday the conference officially began…

tda-san-diego-opening.jpg

Opening ceremonies are always cool!

TDA San Diego Opening 2

Donald “The Brain” Shines

Later in the day, a full room of folks looking to gain knowledge of the systems “The Brain” knows well…

20190207_211702135_iOS.jpg

A question from the audience near the middle of his TWO HOUR event!

Almost on CNBC

Meanwhile, yours truly, while searching for the Video shoot area … stumbled confidently into a live, on-sight CNBC interview –

“Hey, do you have a 10:30 am slot scheduled?”  “Yes we do, get ready!”

Just as the make up person was about to hit my face and the camera crew were adding a mic, a discovery was made that I WAS NOT the next guest, but merely in the wrong place… go figure…

Thought that host looked familiar…

20190207_185113493_iOS

Glad to announce, lots of great items to bring back from the trip….

Today …. late, we end up back home – Glad to be away …  Glad to be back…

Have a Great Friday – We will try to stay off accidental live TV today!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
Management firm.
jkfinancialinc
street-cents

Why almost EVERYONE needs Bonds in their Portfolios

In true Tortoise and the Hare like fashion from the old school fable …..rabbit-2414356__480

There’s a tug-of-war that goes on between the turtle and the hare…..

We all know the ending, although some endings have changed over the years, but stay with us for just a second, as we bring a financial parallel to our fable.

In our interesting story, bonds are the Tortoise and the Hare are Equities/stocks.

Why most need Tortoise/Bonds in their portfoliosturtle-863336__480

Bonds are truly like the Tortoise as they’re more slow running, BUT also importantly, slow to lose value. 

Equities/stocks carry Hare like returns that generally, over the longer term are faster,  but in true Hare like fashion, can get really sidetracked at times (think October – December of 2018 Amateur hour time.)

Here is the Great News in our Story – You can do both!

The good news about investing, unlike the fable is that you don’t just have to be one or the other, but you can mix.

We would argue that mature (larger or for more mature folks) portfolios need a Tortoise for stability during bad times as well as the yummy income that bonds produce!

As the portfolio grows or the income needs rise, more Tortoise may be needed.

Early portfolios that have heavy contributions can frequently be all Hare/Equities/Stocks as the contributions making up a great percentage of the portfolio act like a stabilizing Tortoise.

Normal progressions may be 75% Hare, then 50% then 40% and 25% or less Hare are frequently ok …. with the remaining portions being Tortoise of course….

One of our favorites are 50/50 Hare to Tortoise ….

Another great part of having both in a portfolio is they tend to offset themselves naturally during bad times – when Hare/Equity/Stocks get smacked, almost inevitably Tortoise/Bonds have a field day – multiple reasons such as interest rates dropping when Equities rise and visa versa, as well as a Tortoise safe haven…

There are always unique situations such as all Tortoise due to immediate need or just dislike of volatility and all Hare when there are no needs for the future.

Look for a greater depth information in our coming Newsletter with possible follow up items and details here.

Needless to say we are fond of both the Hare and Tortoise.

Thanks for accommodating our juvenile humor!

Have a Great “Tortoise and the Hare” Day!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
Management firm.
jkfinancialinc
street-cents