Wolff Financial

Tax diversification: A spin on ‘don’t put your eggs all in one basket’

By saving in more than one of the tax buckets you allow yourself great flexibility down the road.

Yes, we do what we can with the information we have, but we do not know what the tax code will look like in 30+ years. Keep in mind the whole picture.

If you are looking for financial planning that encompasses more than an occasional call about the stock market, then reach out for a chat.



This is not tax advice. Just education.

What does it look like to work with me? 👇🏼

Whether you want ongoing planning and accountability or want a one time plan to DIY we will go over the same onboarding steps to ensure any recommendations take into account your full financial picture.

The Wolff Process
1. Discovery Meeting
2. Organization Meeting
3. Values, Goals, and Mindset Meeting
4. Cash Flow Meeting
5. Embark Meeting
6. Check In

DM me the word DISCOVERY to see how you could benefit from this process.

What does it look like to work with me? 👇🏼

Whether you want ongoing planning and accountability or want a one time plan to DIY we will go over the same onboarding steps to ensure any recommendations take into account your full financial picture.

The Wolff Process
1. Discovery Meeting
2. Organization Meeting
3. Values, Goals, and Mindset Meeting
4. Cash Flow Meeting
5. Embark Meeting
6. Check In

DM me the word CHAT to see how you could benefit from this process.

🎁 Giving in a tax advantaged way

Today is Giving Tuesday. A day created to take a breather from consumer spending and remind us of the reason of the season.

If you choose to give this season, keep in mind the following tax tips.

1) You can deduct your donations if you itemize so keep a receipt of your gifts.
2) Gift appreciated stock. Maybe you have done well on an investment or maybe have some stock that was gifted to you as a child. Instead of selling and having to pay capital gains, you can gift that stock to a charity.
3) Donor-Advised Fund. If you know you will give every year, you can use a DAFs to put a large sum, get a large tax deduction, but still control the account to gift to the charity overtime.

Plug any specific charities you love 👇🏼

All of your savings should not be invested.

Why? The goal of investing is to grow your money over time and risk and reward go hand in hand. Investing is great for long term goals such as retirement, but not so great for funds you might need to access in the near term like an emergency fund.

Let me know below what savings goals you have.

Mine are ✈️ travel and 🏡 home downpayment.

✨ Reach your goals by picking one of the following

It’s doesn’t matter which cash flow method (aka budget) you use, as long as you stick to it.

📊Category based
0️⃣Zero based
🪣50/30/20
🌊Flow based

Let me know which one you use👇🏼

It’s the season, for open enrollment. 🚑

For most, this is the time of year you need to choose your health insurance coverage for the next year.

There are several considerations. Some based purely on math and some on comfort level.

Also, during this time many employers allow you to choose from other benefits such as dental insurance, vision insurance, life insurance, disability insurance, and legal assistance.

💌 Share this with a friend.

🤨 Let me know what you find most frustrating about navigating open enrollment.

Investing into a fund can be a great way to easily diversify your money, but which one do you choose?

The reality is that it depends what you are trying to achieve. ETFs and Mutual Funds can be used for both active and passive investing. Active meaning choosing the individual holdings. Passive usually meaning tracking an index, such as the S&P.

Make sure to understand the goal of the fund before you click “buy”.

Almost everything you see in personal finance says, “Get the free money.” But what does that even mean? Take a few minutes looking through your employer’s retirement plan summary document to find out how you can get the most of that “free money”!

What’s your employer retirement match?

You’ve gotten a new job, congrats! But what to do about that old 401(k). Make sure to consider all the pros and cons before making a decision.

I always recommend discussing your options with your accountant and financial planner.

👇🏼How many old 401(k)s do you have out there?