Petros Family Wealth

The holiday season is here, and it's easy to get swept up in the excitement of gift-giving, decorating, and celebrations. With this in mind, we have put together some practical budgeting tips to help you enjoy the festivities and decrease stress over finances. Swipe through to learn more. And as always, if you need personalized financial advice, our team is here to assist you. Contact us today to start the conversation!

The market is still going ⬆️ and ⬇️, which means you may be experiencing losses. But what’s the difference between a paper loss and an actual loss? Here’s a quick review: 🟢 Paper Loss: You have an investment, but it’s worth less today than you originally paid for it. 🟢 Actual Loss: You had an investment and sold it for a lower price than you originally paid. The key is that you can only get an actual loss if you sell. If the actual loss was housed in a taxable account (an account set up for trading stocks, bonds, ETFs, and index funds), you might be able to claim a deduction up to $3,000 per year! This stuff is tricky, which is why we’re here to help. Reach out anytime.

In case you’re in need of a little inspiration, we wanted to share this powerful, timeless reminder from Winston Churchill. Feel free to share this post as a helpful reminder to others in your network, and as always, reach out if we can be of assistance. We are here to help your business thrive.

Life insurance isn’t just a smart choice. It’s a crucial step in securing your family’s financial stability and peace of mind. Unfortunately, 52% of Americans avoid life insurance because they think it's too expensive. What’s more, 82% significantly overestimate its cost, often guessing three times higher than the actual figures. Let’s look at the real numbers: As of April 2024, the average cost for a healthy 40-year-old purchasing a 20-year, $500,000 term life insurance policy is about $26 per month ($312 per year). However, a 30-year-old woman might pay approximately $205 per year for the same policy, while a 30-year-old man might pay around $352 per year. Understanding these variations underscores the importance of getting a personalized quote that fits your unique needs and budget. Don’t let myths deter you from this vital protection.

Do you have a hard time talking with your parents about their estate plan? It's a tough conversation, filled with potential landmines, but extremely fruitful and comforting if you know that your parents' estate plan is in order. Here's a video we put together to coach you on the mindset, the phrases, and the questions, to use to help you start that conversation with your parents. Hope this video is helpful to those out there worried about what may happen and hopefully can provide some clarity! https://lnkd.in/eXiJMq_b

Stock market indexes are essential indicators of the stock market’s current status. The major indexes, such as the Dow Jones, S&P 500, and Nasdaq 100, each track different segments of the market. Swipe through to learn more about these major indexes and what they represent. As always, if you have any questions about these indexes or your investment portfolio, reach out to our team. We are here to help!

We made it through another tax season, but that doesn’t mean our work is done! In fact, now is the ideal time for businesses to reflect on the past year and look forward to the next. After all, the steps you take today can have a profound impact on your business’s tax readiness. With that in mind, our team is sharing some essential strategies and best practices designed to help your team increase tax efficiency and ensure readiness for any scrutiny, such as audits. Swipe through to discover our top tips for the tax “off-season” ➡️ ️As always, give us a call with any questions or needs. Whether it’s strategizing about tax deductions or preparing for potential audits, we’re here to provide advice tailored to the unique needs of your business.

Many of us have heard the acronyms “CPI,” “PCE, and “PPI” a lot over the last several years, especially during the Federal Reserve’s historic rate hike campaign. But do you know what these terms mean? If not, you’re far from alone. We’ve talked with countless others who, often quietly, acknowledge they don’t really understand what these three acronyms mean. To help, we’re defining these terms for you all today. Have questions? Reach out to our team of experts anytime. That’s what we’re here for.

Now is the time to start doing some math if you're potentially filing as an S-Corp next year! Here's a process to figure out if it makes sense or not. Hope you all enjoy!

We recently had a question in our Youtube comment section, 'If I can do it tax-efficiently, why wouldn't I convert everything to my Roth IRA?'... Well here's a couple reasons why, hope you enjoy! https://lnkd.in/gwcnYQfD