The X’s & O’s

The end of the year is once again upon us. This is a great time to look at your finances and see if there are any improvements you can make. Brent, Matthew, and Joshua will talk about some end of the year strategies you can implement, so you can kick off 2022 with a solid financial situation.

The Hosts:

Brent Pasqua, Matthew Theal and Joshua Winterswyk

Transcript:

Brent Pasqua: All right. Welcome in and welcome to the Retirement Plan Playbook. We’re down to the last couple shows of the year. And today we’re going to talk about the planning strategies for the end of the year. I’m your host, Brent Pasqua, founder of RPA Wealth Management. I’m here with Matthew Theal, Certified Financial Planner and Joshua Winterswyk, Certified Financial Planner. But before we get started, I guess one of the things I was wondering is, what’s your favorite thing about the holiday season?

Matthew Theal: Well, right away, I could think of my least favorite thing and it’s how stressful everyone makes the lead up to the holidays. But actually my favorite thing is right around the time of Christmas, right when it starts to peak and you do Christmas Eve, Christmas Day, and then it’s over and you’re like, “Oh, I can relax.” And then you get that week between Christmas and New Year’s. I really like that time of year.

Joshua Winterswyk: I like that time of year, too. I just think a lot of time spent with family and friends and that togetherness, you can really feel it through the holiday a season, or at least I do and really enjoy that time spent with family and friends.

Brent Pasqua: Yeah. I think the festivities, too, leading up to the holidays for me is probably one of the big things now. I think I get so much more enjoyment from Christmas lights and seeing that stuff with the kids because they get joy. And then Christmas movies. I think the ambiance of the Christmas season and having kids, that’s just the beauty of all of it, I think. And I’m excited for, too, after it’s all done and then you can take a deep breath and wait for the New Year to begin.

Matthew Theal: Yeah. Absolutely. Now, maybe that’s what I’ll have to do on one of the next shows.

Brent Pasqua: Well, leading into the holiday season, we have something fun to talk about. Omicron has presented itself. The stock market has fallen more than 4% from its highs due to the concerns of Omicron, the new COVID variant. Why is the COVID variant causing so much stress and volatility in the market? And do we anticipate that this might last?

Matthew Theal: I think it was just the perfect storm. I mean, all of us were enjoying our Thanksgiving dinners and then this news kind of broke from the trusty World Health Organization that there’s a new variant. And the news organizations took it and ran with it. But as for the stock market, in my opinion, it was looking for an excuse to sell off. Most likely though, this new COVID variant is not the reason that the market has been selling off.

Matthew Theal: We’ve mentioned previously on other shows that we’re going into an environment where we are facing high inflation. There will be interest rates being raised at some point next year, and basically, drone Powell confirmed that. And it’s my belief that that’s kind of what caused the repricing of stocks. And to answer your final question, we actually might be in a time period where we are going to get some pretty big bumps in the road here in the stock market, but that’s always no reason to panic. It’s just because interest rates will be rising next year.

Joshua Winterswyk: I think a lot of the optimism, we talked about this on a previous show, but a lot of the optimism’s kind of gone. And there’s some new uncertainties. We’ve seen even some just strong economic data that proves that we’re probably maybe in a little bit better of a place than we even thought. So how much more optimism is out there for the future? So I think that also is going to play into, like you said, Matt, some volatility going forward.

Brent Pasqua: Do you see a scenario where this variant can actually cause the market to either struggle going into next year at all, or recover and strengthen the economy? Is there any chance of that?

Matthew Theal: I mean, I guess the best case scenario with any COVID variant is that it spreads really fast, doesn’t kill anybody, and we all just get runny noses and sore throats like you do with a seasonal flu or cough.

Brent Pasqua: Another big story, and it was a leading headline going into the last couple weeks is, Citadel CEO Ken Griffin pays 43.2 million for the constitution copy, and we talked about this on the previous podcast also, outbidding this crypto group. On the previous podcast, Matt, you had mentioned that the ConstitutionDAO, which the group of crypto virus came together to bid on a copy of the constitution that was going up for auction. How did the crypto buyers not actually come up with this and win it? And how did Ken Griffin win this?

Matthew Theal: A pretty cool story. And if you remember Ken Griffin, he’s from Citadel and he was involved in that Robinhood trading fiasco that we talked about in February or March when he was getting a lot of blame. So he’s a hedge fund billionaire. And he came in and a bunch of us, and Josh included, was in on this as well. I should give him some credit. We gave a little cryptocurrency into the ConstitutionDAO. We became members and we got shares in PEOPLE Coin, which is the currency that you vote with in the DAO. And they raised over $40 million, so they had enough with Ken Griffin’s bid. But what the organizer said is that where the bid number was at, was they wouldn’t be able to actually properly care for the constitution, because there is some maintenance costs involved. And so even though they had raised the same amount of money as Ken Griffin, they didn’t have enough money going forward to care for it.

Brent Pasqua: So the one question I always was wondering leading into this, and I would assume what the answer may be, but when you put money towards this auction, do you actually get that money back?

Matthew Theal: Yeah. So they’re refunding everyone. So there’s two things you could do. The first thing you could do is go back to the site that is called Juice Box that we use to fund our cryptocurrency to the project. And they’ll give you a refund, minus gas fees. Gas fees are kind of the fee to transact on the Ethereum blockchain. Think of it kind of like a commission. Or you could take your coins, your PEOPLE Coins. And those coins have actually been trading. Last I saw, they’re trading for about four cents. And they trade on decentralized exchanges like Sushi Swap.

Joshua Winterswyk: Now it’s become kind of a souvenir for participating in the ConstitutionDAO, which is pretty cool.

Matthew Theal: Yeah. Almost a meme coin. I haven’t decided what I’m going to do. I think I’m going to take my PEOPLE Coin though.

Joshua Winterswyk: I think so, too. It’ll be my souvenir for being a part of this. But pretty crazy story. And especially the price that was paid aid for this constitution, I think it was valued about 26 million, so it went for double the amount that it originally had a set price for. So pretty amazing that much money for this piece of history. I think that Ken Griffin’s going to hold it in a museum, though, for the public to see from what the story said in Arkansas. So pretty cool if you ever get to actually see it.

Matthew Theal: Rumors have it that he’s a big anti-crypto person.

Joshua Winterswyk: Right. Which makes the story even more interesting.

Matthew Theal: Yeah. Which makes it a little bit better. But if he is, or isn’t, crypto’s coming for the financial market, so sorry, Ken.

Joshua Winterswyk: Well, he’s not my favorite because we didn’t win, so.

Brent Pasqua: Because he’s tied to the Robinhood fiasco that happened earlier in the year, right? So is this his way of getting back at everybody?

Matthew Theal: I guess it could be. But then the reason why we haven’t adopted crypto or, for me, it took so long, was because I found the people who talked about crypto to be extremely annoying. And I’m sure half the people listening right now are like, “Yeah, Matt. Dude, you’re being annoying. Stop talking about crypto.” But, yeah. He’s not on a crypto guy, Ken Griffin, it sounds like.

Brent Pasqua: Right. All right. Well, let’s get into something that isn’t annoying and that’s a topic that we can discuss that. And I think our helpful strategies as we get into the end of the year, and we like to do these at the end of the year because we feel like there’s financial strategies that people can implement themselves that can set their next year up strong. And as we head into 2020, there’s nothing really better than getting yourself in position to have a really good financial year. And we want to talk about what some of those strategies are today. Matt, as we go into the end of the year and we’re looking at next year, what is your first strategy?

Matthew Theal: The first strategy is tax loss selling in your after tax brokerage account. So an after tax brokerage account is a non-retirement account where you would probably actively trade stocks or maybe you own some mutual funds. So maybe you got caught up in the GameStop or AMC thing this year, you participated in that, but you purchased at a price that is now underwater. You can sell that stock, take the loss, and you would receive up to 3,000 off on your taxes. So if you lost $3,000, you’d receive up to 3,000 off on your taxes. The great thing is you could buy back the AMC or the GameStop on the 31st day after you make the sale.

Brent Pasqua: So if somebody has an after tax brokerage account, how would they go in there and actually do that?

Matthew Theal: They would just hit sell on their thing. It’s on Robinhood. I think there’s just a big sell button.

Brent Pasqua: So, you’d look at your positions, you look at what you bought them for. And on there, if you’re looking at cost basis, you’re going to see some positions you have a loss at. And then you can pick some of those to sell some shares, to try to get you to this $3,000 loss?

Matthew Theal: Correct. Exactly.

Joshua Winterswyk: And most of the custodians do a decent job at actually kind of detailing what that cost basis is to the value. So that’s the section you want to look for when you’re logging into your custodian’s platform, whether if it’s Robinhood, Charles Schwab, or whoever you’re using, and kind of make it easy there for you to determine what to sell.

Brent Pasqua: Would you recommend they use those funds to purchase something else, or would you just sit on cash?

Matthew Theal: Everybody’s situation would be different, so I don’t know.

Brent Pasqua: So my strategy that I think is helpful is making retirement contributions. And it’s something that I always sort of try to emphasize with people. And that’s to really max contribute as they can into their 401k plan. As we get into the end of the year, if you are getting a bonus check or you’re getting some extra money from work at the end of the year, and you have room to make contributions more into your 401k plan, allocate and have more of that money withheld and put to your 401k plan.

Brent Pasqua: And usually what I like to do for at least for at least myself, is allocate that more towards stocks because the time horizon till I’m going to take that out is longer, and you have more of a potential growth. But making sure that you can actually max contribute, you can look at your 401k plan, see how much you’ve contributed so far this year, and if your savings is building up right now, allocate more of your paycheck. Even if you don’t get a bonus check. Allocate more of your paycheck to your 401k plan.

Matthew Theal: For biweekly pay people, too, December is a triple pay month. So you could use your third check, potentially. Because there’ll be a check most likely for people paid on… Friday’s on the 31st this year.

Brent Pasqua: Which is a great way… I mean, that check could have your last contributions for the year and go into it.

Matthew Theal: Exactly. Yeah.

Joshua Winterswyk: And you have up to 19,500. So remember that when you log in to see what that max is.

Brent Pasqua: And if you’re over 50?

Joshua Winterswyk: You get an extra 6,000?

Brent Pasqua: Yep.

Matthew Theal: Yep. Catch up.

Brent Pasqua: Josh, what are your strategy?

Joshua Winterswyk: My strategy’s actually… Well, since you’re logging in to look at your contributions, might as well review those retirement accounts. So logging in, making sure that you understand what investment choice you have for the balance in that account, and then also bring some awareness to where that money is actually going to for those contributions. So like Brent said, if you’re increasing those contributions, you actually have an option with most 401k custodians to actually determine where you want that money to go, and it can even be different than the balance. So making sure you understand how that money’s being allocated. And also reviewing the actual funds that you’re invested in and the fees for those funds.

Joshua Winterswyk: It’s very important that we’re driving the cost for the underlying investment choices as low as we can, because that means more money you get to keep in your pocket from those investments. And then also on understanding what that stock-to-bond mix is currently. If you’re heading into retirement, your stock-to-bond mix might need to change soon. We’ve had really, three good years of growth. Is it time to maybe even get more conservative or more aggressive? So determining what that stock-to-bond mix is, and making sure it’s reviewing and matching your goals is very important, especially leading into this next year, especially if something’s going to change for you, like retirement or even switching jobs.

Brent Pasqua: Is it easy for a lot of people to figure out the information within their plan on what their funds, either expense ratio are or what their allocations are?

Joshua Winterswyk: Some of the 401k custodians are doing a lot better job of having that information very easily accessible and reviewed. One thing that I see a lot with 401k plans is they’ll have some sort of fact sheet on each of the funds. So making sure you’re looking for kind of that buzzword fact sheet next to the investments. But even a quick Google search. I mean, the Internet’s great now, so if you want to just quickly Google the fund that you’re in, it’s easily accessible to access how that money’s being invested, what are those fees? So, yes. You can find that information just with a little bit of research.

Brent Pasqua: It’s a great strategy. What do we have next?

Matthew Theal: All right. Just like reviewing your entire accounts, we’ll talk about reviewing those investment brokerage accounts that you have, maybe did something that Robinhood or Charles Schwab, like you were saying earlier. And my first big piece of advice here is don’t do anything. If you’re actively trading constantly all the time, you’re going to lose out. So it’s better just to kind of be buy and hold. Select the positions that you want to own for the long run and hold them for the long run. Don’t chase performance or get caught up in a fad. For instance, what were the fads this year? GameStop, AMC. Those have all kind of started to break down in the recent months. And unfortunately, most people are going to end up losing money on those investments.

Brent Pasqua: Wait, not all of them are going to the moon anymore?

Matthew Theal: No, I think the moon trip got canceled. And then if you are looking for something that could help you for retirement, there’s no reason why a target date fund couldn’t work well in a brokerage account. That’s a mutual fund that you select the year that you want to retire. You could also purchase it in a broker’s account, just like you could in a retirement account. Put your money in that, and they’ll build the portfolio for you. And then two other good options, if you don’t have them, would be adding some index funds as well. Anything from Vanguard is usually pretty good and low fee.

Brent Pasqua: I think that’s so helpful. I mean, as we get in the end of the year, if you’re reviewing your investment portfolio, to really know the types of funds that you’re doing and not be overactive with it. Josh, we also wanted to talk about health savings plans and what strategies can people use for those?

Joshua Winterswyk: It’s an important time. Most employers have an open enrollment period. So end of year, making sure you’re reviewing, not only your health plan, whether if it’s through an employer or through the private market. One good tip here, too, is kind of go back over this last year and see what you actually spent medical wise, right? Or project what you plan to spend going forward and what your budget is for medical insurance. And having that kind of lead the conversation of choosing your next health plan. If you are in a high deductible plan, too, consider signing up for a healthcare savings account. So a healthcare savings account is an account that allows you to put money aside on a pre-tax basis. And you’re able to use that money for qualified medical expenses. What’s nice about this is you can roll funds over into this account each year.

Joshua Winterswyk: So if you have one and you didn’t use all the money, that’ll actually roll over to the next year. And one other thing about healthcare savings account, if you are self employed, you’re also eligible too. So don’t think you’re excluded if you’re not just working for an employer, but you work for yourself, look into the healthcare savings plans going into next year.

Matthew Theal: I think Vanguard Fidelity, they offer them.

Joshua Winterswyk: Yeah.

Matthew Theal: For people who are self-employed. A good point on the spending, because that’s another low-key reason why you might want to be tracking your spending, so you could see what you are spending at medical facilities, but then also pharmacies. You could do that if you bring in FSAs or anything like that.

Brent Pasqua: Mm-hmm. Yeah. Great, great strategy. My strategy going into the end of the year is to make sure that if you are now over 72, that you’re taking your required minimum distribution.

Brent Pasqua: And even if you are under 72, and let’s say that you have low income this year where you know your income is going to end up being lower this year, maybe taking a small distribution from your IRA may make sense at a lower tax rate if you know you’re going to be in a higher tax rate in the future. But let’s focus the rest of us on if you are over 72, we know that under the new rules you have to begin taking from your IRA or your qualified retirement plan, your required minimum distributions. And when you’re doing that, you have to do it before December 31st. But also, you have a couple of options of things that need to be done. You’re going to have to more than likely sell something within your portfolio to be able to get the required minimum distribution out, unless you have that money sitting in the money market account of your IRA. But you’re probably going to want to sell something in your portfolio.

Brent Pasqua: I’d very careful and mindful of what you are selling, because I think it can be advantageous of what you sell. And then also possibly reinvesting that required minimum distribution once it comes out of the account, out of your IRA. And then maybe possibly investing it into an after tax brokerage account, so it just doesn’t go sit into savings. I mean, if you have the luxury of doing that, you don’t need to actually spend it. But one of the things that a lot of people choose to do is have their taxes withheld when the distribution is taken out. That way, they don’t have to worry about it in April when they go get their taxes done that they’re not going to have to go back and pay a bunch of taxes in.

Joshua Winterswyk: Yeah. Good point. And a good time to kind of address the tax situation too, if you normally owe and you don’t need that distribution, maybe you up the withholding, right? To kind of offset that tax bill in April. So, great tip.

Matthew Theal: Another good point, too, that you made is wanting to have liquid investments like stocks, bonds, mutual funds, ETFs, so you could actually sell. One of the big draws of doing a business or a real estate rental in your IRA with those self-directed ones is when it comes time for RMD, what are you… You’re not going to shop off a brick from your rental. You’re going to have to come up with the cash some way else.

Brent Pasqua: Yeah, I think that’s an important point. And I think with required minimum distributions, I mean obviously just being very mindful of how you actually take that money out really helps long term. And then Matt, we wanted to bring up a strategy about charitable donations. What are your thoughts on charitable donations towards the end of the year?

Matthew Theal: Yeah, December’s the season of giving, right? So no better time than to give to your favorite charity. So a couple strategies you could do. The first would be, if you have stock in a broker’s account that has a low basis, so meaning you have a high dollar gain, instead of gifting cash, you could gift the stock and kind of let the charity deal with it. That way, if you were to go sell, you don’t have to deal with paying taxes on it. So a nice way that gets you a little double deduction there. You could also do a very popular strategy since Trump’s Bill was passed in 2017, which is where you bunch charitable contributions. So instead of doing small charitable contributions one year and the next year, you say, “Okay, in 2022, I’m not going to do any charity, but in 2021, I’m going to do a lot of charity.”

Matthew Theal: So then you get a bigger upfront right off. And then lastly, you were mentioning the RMD. One thing you could do to satisfy your RMD is do a QCD. So essentially all that is, is you’re giving your RMD to charity.

Brent Pasqua: And then can people actually give some of their shares to their kids?

Matthew Theal: They can, yeah. If you like your kids and you want to be generous, you could give them shares to stock and if they want to, they could sell it. And hopefully they’d be in a lower tax bracket than you and take the profits.

Joshua Winterswyk: The naughty or nice list, huh?

Matthew Theal: Yeah.

Brent Pasqua: Maybe we can clip this episode and send it to our parents?

Matthew Theal: Yeah, I don’t know.

Brent Pasqua: All right, let’s get into another one. I think that’s an important one and one that’s kind of changed around over the last couple years and that’s Roth conversions. Is this a strategy for this year?

Joshua Winterswyk: It could be. Yeah. Especially if your income’s less than, let’s say, the year before, or the year going forward. So a Roth conversion, though, is basically you’re going to transfer retirement assets from an IRA or a pre-tax account and this creates a taxable event. So remember that. And a Roth IRA can be, or Roth IRA conversion, can be advantageous for individuals with large IRA accounts who expect their tax bills to be the same level or grow in the future. So making sure you understand that there are a lot of rules to Roth conversions. So make sure you’re doing your research on this. But can be a really good strategy to end the year, especially if income is lower this year than potentially going into next year.

Matthew Theal: I like backdoor Roth conversions. I’m not a fan of just ordinary Roth conversions, though. It seems like probably a little bit more headache than it’s always worth in the long run and when you do the math.

Joshua Winterswyk: I feel like they’ve become very popular. But it is kind of for the right person. It isn’t for everybody. We get a lot of people that talk about Roth conversions, but I feel that your situation really has to match up well with that strategy, and you have to stick to it. And for a lot of people, it doesn’t make a lot of sense.

Matthew Theal: It’s become like a miracle diet pill almost. “Oh, you need a Roth. You should do a Roth conversion.”

Joshua Winterswyk: Yeah, exactly.

Brent Pasqua: Yeah. And I don’t think a lot of people really enjoy paying taxes up front. And I think a lot of people rather kick the can down the road. And so, I mean, who wants to give up money for a long term strategy? I mean, it’s, I think, hard mentally for people.

Matthew Theal: Yeah, absolutely.

Joshua Winterswyk: It is hard. And we know that pensions are at an all time low, fixed incomes at an all time low for retirees. So most likely a lot of people, your tax bill isn’t going to be more in retirement or stay the same. It’s going to be less, so.

Brent Pasqua: Right.

Joshua Winterswyk: Make sure you get that right.

Brent Pasqua: Yeah. It’s some that you need to be reviewed by an advisor, I would probably think. And then the other thing is, it just has to fit your situation and make perfect sense.

Joshua Winterswyk: Absolutely.

Brent Pasqua: The last strategy going into the end of the year is one that we had a great podcast on, last one. And if I haven’t listen to it, I’d recommend you go back and listen to it. And that’s to create and review a net worth statement. And a net worth statement’s going to have your assets and your liabilities on it. So things that you own and things that you owe on. And I would update as you get into the end of the year, your balance sheet. Your net worth statement.

Brent Pasqua: So you could start seeing exactly where you stand financially. And I think why that’s helpful is, once you start to see your balance sheet, you can really focus on making decisions as you… And setting goals, as you head into next year. Is it that you’re going to want to max contribute and contribute more into your 401k plan or your IRAs, or do you have some debts that you want to pay off first, and then the second part of the year, you can be making more contributions? But from your balance sheet really strong financial decisions can be made. And I think the other part about all of that, is you’ll have a record of where you stood at the beginning of the year and where everything is at the end of next year. And again, that leads into being very helpful going into the year after that.

Matthew Theal: Yeah, good point. Hopefully with this market dropping, everyone will still see a positive of change in their net worth statement when they do this towards the end of December. The other thing too I’d point out is on the homes. What I’ve seen with a lot of clients this year is their homes have really appreciated. Depending on how much your home is worth, somewhere from 100 to maybe even three or 400,000 in the last year. Again, those are just paper figures. So when you do see that and when you go to update your net worth statement, don’t get too overly excited.

Brent Pasqua: Yeah. Yeah. I agree. All right, let’s get into the end of the year RPA recommends. Maybe from these recommends, there’s either some gift ideas or things to do during the holiday season. Matt, what do you have for us?

Matthew Theal: I’m going to go with a new clothing retailer that I heard about from a friend of mine. It’s kind of like a Lululemon, but it’s not. It’s more, for the most part, it seems a little bit geared towards men, whereas the Lululemon has the female and that kind of came with the yoga pants. It was geared towards females when they first came out. It’s Public Rec. So I have their pants and a couple of their polos. And it’s kind of the same kind of material as Lululemon, but I actually think it’s better for the office. So I really like it as kind of the office hybrid where you could wear it from the office to the golf course, but it’s not like a golf-y, sporty looking shirt where you look like you’re actually going to the golf course.

Joshua Winterswyk: I’m a golf guy, so I’ll have to check that out.

Matthew Theal: Yeah, you will. I think you’ll like it.

Brent Pasqua: My recommend is something to maybe make over the holiday season. And I actually ordered a Smashburger kit where it came with a kit to actually smash the burgers down and to season them and a spatula to prepare it all. And to me, once I made this, I can’t imagine eating a burger any other way than just using a Smashburger kit. I mean, it just adds so much more flavor to a hamburger. And if you love hamburgers, I don’t know. I guess I’m more new to this than some of you, but to me, I thought it was outstanding.

Matthew Theal: If my mom listens to this podcast, she’s going to ask me, “Hey, Matthew, what’s that Smashburger kit Brent was talking about?” Because she probably doesn’t know what a Smashburger is.

Brent Pasqua: And you can go on Amazon. There’s all sorts of different ones on there. I think you just find one that that fits. But we got one from Cuisinart? I think. Is that how you say it?

Joshua Winterswyk: Mm-hmm.

Brent Pasqua: Yeah. And so I thought it worked really well. But it came with everything that you need for a Smashburger. I think that that’s just now the best way to eat a burger.

Joshua Winterswyk: If you haven’t had a smash burger, this is your time to go look up what Smashburgers are. A little just basic, more different style of burger. I think they started in Chicago. Now they’ve become really popular over here on the West Coast. You’re seeing Smashburger places pop up everywhere.

Brent Pasqua: And they’re really easy to make.

Joshua Winterswyk: Yeah. Super easy. Good way to do a burger, especially if you don’t like that big thick patty, because the Smashburgers, you’re smashing the patty to make a really thin, crispy patty. So again, a different twist on a burger, but I enjoy them, too.

Brent Pasqua: Yeah. You introduced me to them and now… Once you start making them, I’m like, “Man, I could really tweak this a little bit more and make it even better.”

Joshua Winterswyk: I got to see your kit though, because I have a couple Smashburger tools that I might be able to share with you.

Brent Pasqua: That’s a good idea.

Joshua Winterswyk: I’ll jump into my recommend. So we know there’s supply chain issues. We see it on the news. This is just a recommends reminder. Get your holiday ordering done as soon as you can. And don’t forget to use the Honey app. It’s an extension on your internet browser to save some money. Matt, I know you don’t use Honey, but for Brent and I, it works. It saves you money. Get those holiday orders in. This is your reminder. Don’t wait till the last minute. You might be disappointed with the shipping.

Brent Pasqua: Put it on your good credit card so it’s saving you travel points or reward points or cash points so that you’re able to save for next year and get those rewards, right?

Joshua Winterswyk: Saving money, getting points, getting your Christmas gifts on time, going into the holiday season happy.

Brent Pasqua: Yes. All right. Any parting thoughts for the end of the year strategies?

Matthew Theal: No, I guess just, it’s the holiday season. It’s a time for giving. We’ve been in a bull market. You’re going to hear a lot about your neighbors making tons of money or your best friend making tons of money. Don’t get overly emotional, everything corrects.

Joshua Winterswyk: Go try a Smashburger.

Brent Pasqua: Yeah, absolutely. Enjoy the holiday season with your family. I think that’s so important. But as advisors, we love helping people. That’s why we do it. If you’d like to schedule an appointment with any of us, please go to rpawealth.com and schedule a complimentary consultation. You can also download our e-book from our website. And if you’d like any of the show notes, please go to retirementplanplaybook.com. Merry Christmas to everyone, and thanks for listening.

Joshua Winterswyk: Thank you.

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