If you own taxable investment accounts, real estate, collectibles, or literally any item that can appreciate or depreciate in value, you’ve likely had to deal with capital gains or losses on your tax return. (Actually, only if you’ve sold the item.) But how much do you really know about capital gains and losses? The IRS has published Tax Tip 2010-35 listing 10 Facts About Capital Gains and Losses – detailing what the IRS deems important about gains and losses and how they could effect your tax situation. Following below the IRS’ list is some additional detail on treatment of capital gains and losses. 10 Facts About Capital Gains and Losses Almost everything you own and use for personal purposes, pleasure or investment is a capital asset. When you sell a capital asset, the difference between the amount you sell it for and your basis – which is usually what you […]
June, 2010:
The Lost Decade and What it Means
By now you’ve likely heard plenty about the “lost decade” in the stock market: On January 3, 2000, the S&P 500 index closed the day at 1,455.22, and on May 28, 2010, the index closed at 1,089.41 – for a negative return on the nearly 10 1/2 years… I’m sure you’ve noticed in your investment statements. But what does this mean? There are plenty of folks out there (in the mass media) who will tell you that stock market investing is no longer a wise move… why, after all, if you’d had your money in a savings account you’d have done better! So does this mean it’s time to chuck all of your stock investments and switch everything to bonds? Of course not. Remember, it’s long term No matter who you are as an investor, if you expect to achieve any return above inflation, you have to include equities (stocks) […]
Share, tweet, print, email, like or pin this post:
The Importance of a Fiduciary Standard of Care
Today, my friend and colleague, Steven Young, CFP®, has graciously provided a guest post, giving us his thoughts on the fiduciary standard of care. Steven operates his Fee-Only financial planning firm, Steven Young Financial Planning, out of Springfield, Missouri. A fiduciary is required by law to act in his or her client’s best interest at all times. What you may not know is that the vast majority of those who call themselves “financial advisors” or “financial planners” are not actually subject to a fiduciary obligation. Under current rules, advisors who are compensated by commissions on the sale of financial products are subject to a lesser standard known as the “suitability rule.” This regulatory hurdle requires only that the product sold be appropriate for the client (in other words, not too risky) at the time of sale. In fact, these “advisors” can now sell you products that pay them bigger commissions, […]
Sterling Raskie, MSFS, CFP®, ChFC®
The latest in our Owner’s Manual series, A 401(k) Owner’s Manual, was published in January 2020 and is available on 
A Medicare Owner’s Manual, is updated with 2020 facts and figures. This manual is available on 
Social Security for the Suddenly Single can be found on Amazon at 
Sterling’s first book, Lose Weight Save Money, can be 
An IRA Owner’s Manual, 2nd Edition is available for purchase on Amazon. Click the link to choose the 
Jim’s book – A Social Security Owner’s Manual, is now available on Amazon. Click this link for the 
And if you’ve come here to learn about queuing waterfowl, I apologize for the confusion. You may want to discuss your question with Lester, my loyal watchduck and self-proclaimed “advisor’s advisor”.