Choosing an Advisor in the Time of Covid-19

If the recent shelter-in-place restrictions were not enough to take you off balance, the March recession and changes to your ongoing employment likely tipped the scale for you.  Amid so many uncertainties, where should you turn and how do you go about choosing an advisor to partner with for the future? Whatever is driving your search for an advisor, there are some important aspects which should be considered before making your decision. Because this is not a decision most people make more than a few times in their lives, consider the following to help you narrow down your search for the right person. Choosing the Right Advisor – A Clearview Case Study example of advisor characteristics you should consider NAPFA Advisor Comparison Tool  – A tool provided by the National Association of Personal Financial Advisors to help you compare advisors. If you’re interested in talking with a Clearview Advisor about your situation, click here and we will reach out to see if we might be a good fit as your financial partner.

After the Taxes are Completed

When the tax returns are completed for the year, don’t just put them in the file drawer and forget about them.  Use the data provided to make some good decisions about 2020 withholding and saving patterns. This is a good time for you to review a recent paystub from 2020.  With tax return results in hand, you can estimate whether you need to adjust your W-4 to change federal withholding, either reducing large refunds or withholding a bit more each pay period to better cover 2020 taxation. Your CPA can assist with this evaluation. Lastly, refer to your paystub to ensure you are taking full advantage of deferrals to retirement plans, using the table below to view the annual maximums allowable. Your plan administrator allows you to adjust deferral percentages throughout the year.

Your phone is ringing. Should you answer it?

I would hazard a guess that for many of us, answering the phone has become an exercise in frustration.  If you are like me, regardless of the efforts I have taken to place my number on the DoNotCall registry and to use my caller id to prescreen before answering, I am still bombarded with scam calls each and every day.  What makes it worse is that the robo-callers and scammers are now using a technique called “spoofing” where they can disguise their identity on caller id and make it appear that a legitimate business is calling.  This spoofing technique has resulted in innocent individuals picking up the phone believing that the IRS or Social Security is calling and ultimately being strong-armed into releasing personal information to the callers.  A recent article by the Federal Communications Commission (FCC) discusses this issue and provides the following tips to avoid becoming the victim of a call scam: Don’t answer calls from numbers you don’t recognize. If the caller is not who you were expecting, hang up immediately. Never give out personal information such Read on! →

Retiring to Charlotte?

Cheryl Sherrard was quoted in a recent Financial Advisor magazine article entitled, “Retiring in Charlotte is all about location, location, location“.  The article mentions that Charlotte is ranked near the top of the 50 best metro areas for retirement, according to MagnifyMoney and Bankrate, but the specific area within Charlotte will determine whether you face sticker shock or a pleasant surprise.