Monthly Tips March 2021

Monthly Tips

March 2021


TIP 1 Buffett’s Shareholder Letter

Whether or not you own any shares of Berkshire Hathaway, it’s interesting to read Warren Buffett’s shareholder letter each year. He always tries to explain his Investment decisions in language anyone could understand, and in this letter, he discusses the dynamics of what share buybacks can do for investors, and why he believes one should “never bet against America”.

You can find the full letter on Berkshire Hathaway’s website by clicking here.


TIP 2 IRA Contributions: Roth vs. Traditional

If you haven’t filed your tax return for 2020 yet, you can still make a contribution to an IRA for 2020. This leaves many wondering which would be better, a Roth IRA or a Traditional IRA?

The answer, as with many financial planning questions is: it depends. Either can be more or less appropriate depending on your circumstances and expectations for the future. Our blog this month: The ABCs of Roth and Traditional IRAs elaborates on when each is appropriate.


TIP 3 Sleep Awareness Week

A big reason that many clients turn to Garden State Trust Company is so they could take a step back from investing, get off the market rollercoaster, and have their investments managed according to their risk tolerance in a hands-off approach.

It’s sleep awareness week, and we’d like to encourage everyone to consider adding a little bit more self-care into their lives and focus on getting better rest. We’d be pleased with being part of that if appropriate, but investments aren’t the only thing that keeps us up at night.


TIP 4 Tax Scams

Every year we remark to be extra careful around tax scams as April 15th approaches, and 2021 is no different. In fact, there has been a great increase of additional romance and unemployment scams in 2020 (some reports show an increase of over 50%, and suggest social isolation as a possible cause). Always remember in regard to your taxes, that the IRS will not call and demand immediate payment, or request payment via a credit or debit card or gift card, or threaten to bring in police or other agencies to arrest you for not paying.

Scams? Read our Publication: Keeping Our Seniors Safe – Watch Your Wallet.