Have you got Spring fever? Well this is the perfect time to clean out those file drawers and get organized for next years tax season. Stop telling yourself that you have all year, we are already almost 5 months into 2017 which leaves only 7 more months, so let’s get going.
Below are a few ideas to help keep things organized:
- Invest in a filing system: file cabinet or box with hanging files and plastic tabs
Keep a hanging file for the following:
- Monthly Bills – each to have their own tab: Electric, Gas, Water & Sewer, Mortgage, Insurance, Credit Card, etc.
- Property Tax
- Income Tax
- Properties – one for each property if you have multiple
- Pets – one for each pet if you have multiple
- Auto – Loan documents, registrations, license information, insurance, tollway transponder password and renewal information
- Bank Accounts – one for each account with account number on the tab
- Investment Accounts – one for each account with account number on the tab
- Receipts - purchases big and/or small
- Individuals living in the home – one for each adult and child
The first step to becoming organized is having a system set up. Organize your file drawer however you feel would work best for you and your household.
Carrie Schwab-Pomerantz, CFP®, President, Charles Schwab Foundation; Senior Vice President, Schwab Community Services, Charles Schwab & Co., Inc recently wrote a great article called “Could Your Financial House Use Some Spring Cleaning?”. She offers some tips and tricks as to how to become more financially organized. You can read the article HERE.
Hope you will stop by Friday, April 28, 2017 from 1:00 PM until 4:00 PM as we host our annual shred event. Gather up all those old documents you have been hanging on to for way too long and get your financial house in order. For more details on our shred event, click HERE.
Palatine, Illinois, April 11, 2017 –Kabarec Financial Advisors, Ltd. (KFA), a Palatine-based financial advisory firm, proudly celebrated its anniversary on April 1, 2017. In honor of this milestone, Michael Kabarec, CFP, CPA/PFS/EA, president of Kabarec Financial Advisors, LTD., announced a cocktail party being held at the Gateway Centre in downtown Palatine on Tuesday, April 18th.
Since opening their doors from a spare bedroom in his home back in 1982, Kabarec and his team have helped their clients achieve their financial goals and objectives. KFA offers an array of financial planning and wealth management services primarily to small businesses, individuals and their families.
“We’ve learned that rich people never want to be poor,” says Kabarec. “No matter how much or how little wealth clients have accumulated, they want to preserve their assets which is why we limit the downside risk.” With more than three decades of experience under their belt, KFA has seen and been through many historic events; 1982 KFA founded, 1984 original Macintosh computer launched, 1987 Black Friday, 1991 E-Trade founded, 1996 start of tech/dot com boom, 2001 9/11, 2007 first generation iPhone released, 2008 global recession financial crisis, 2016 Donald Trump elected President. Since the firm’s inception, a large percentage of clients have weathered these storms alongside KFA.
As independent Registered Investment Advisors, the firm offers objective and impartial recommendations on a “fee-only” basis without the influence of product or sales commissions. KFA provides their clients with objective advice uniquely tailored to their financial goals and objectives. Kabarec Financial Advisors, Ltd. prides itself on being large enough to serve, small enough to care. The firm has assembled a powerful, multigenerational team of individuals with decades of experience and intellectual capital who oversees over $190 million assets under management. “Our clients become part of our extended family. Each one of them has a story, they’re not just names in our book. We are there through celebrations as well as hardships; we care to know the details,” explains Kabarec.
“I am thankful for the continued confidence our clients have shown in our firm all these years. Without them, KFA wouldn’t be where it is today,” says Kabarec. “It has been an extreme honor serving our clients, many of whom have been around since early on. I’m gratified knowing the firm has helped preserve and protect their wealth and will continue to do so for generations to come.”
By: Lisa Thuer - Senior Trading and Research Specialist
The dust is still settling in Washington as the new administration takes office. The markets started like gangbusters in January and February, which was based on the upbeat news that a Donald Trump presidency would result in pro-growth policy changes, which is good for the stock market and businesses as well. However, in March the markets hit the brakes when the new Healthcare Bill failed to be brought to vote. This is being viewed as, perhaps the Trump administration will not be able to get all their policies and their campaign promises passed as quickly as anticipated. Failure of the Healthcare Bill, contributed to the March stock market being a relatively flat month.
Letís review the positives that we saw in the first quarter of 2017. The technology sector was a top performer, and we were pleased that we made the decision to add to our current positions in this sector at the end of 2016. Other areas that have done well are consumer discretionary, staples, and utilities. The financial and industrial sectors continue to hold their own, as decrease in regulations will benefit the financials and infrastructure spending will be beneficial to the industrial sector. The worst performers were energy and telecommunications. However, we are underweighted in those two sectors, but our minimal exposure in those sectors are holdings that have a significant dividend yield. Small companies have had some mixed results this quarter but the forecasted future is still pro- growth. Fixed income continues to show mixed results, nonetheless we continue to hold investments in the fixed income sector that are non-traditional, income generating holdings.
Any pullback in the markets that we have seen recently can be viewed as a pause in the markets, because bull markets often take a breather. As much as we would all love to see the markets continue to go up, we also know it is not realistic. Investing on political noise at home and abroad can be detrimental to a portfolio. We know that there are many good things happening here in the U.S., Technology innovations, medical breakthroughs, and oil production, just to name a few, but the good tends to be overshadowed by all the noise in Washington. As we have mentioned before, the media tends to focus on the negatives.
There will come a time in the future for us to start dabbling in investments outside of the U.S. as we continue to watch and monitor other areas of the world. For the last several years, we have been reluctant to any foreign investment because of their uncertainty.
Our outlook continues to be relatively optimistic, especially if Washington can put some of this political gridlock aside and focus on getting something done. It would be positive if we could see some, Tax Reform, the easing of some regulations, as well as some type of Healthcare Reform, and it would be best if it came sooner rather than later. Good things are already happening with a pickup in business as well as consumer confidence, along with job creation and wage increases. Regardless of what happens in Washington D.C., companies will continue to innovate and produce, life will not come to an end.
As always, should you have any questions, comments or life changing events that you need assistance with, do not hesitate to contact one of the KFA team members. It is always good to review your own risk tolerance that may change overtime. Are you able to weather the markets ups and downs and focus on your goals? Letís talk about it, please give us a call, Mike Kabarec has been doing this for 35 years. He has seen lots of different markets through his career, he might not have all the answers, but he does have a lot of answers.
First for Finance
Kabarec Financial Advisors, Ltd. (KFA) is an independent, fee-only financial and investment advisory firm with 35 years of experience in helping clients achieve their financial goals and objectives. The firm provides multi-generational, financial comfort and sense of financial peace-of-mind.
"We share our knowledge and expertise to make the complex, simple," explains Michael Kabarec, CFP®, CPA/PFS/EA, president of the firm. "We are also committed to tax-planning and asset protection as we believe it is not about how much clients have, it's about how much clients keep. As a fee-only advisory firm, we do not earn any commission on products or services, therefore we can make recommendations without any conflict of interest."
With more than three decades of experience, KFA has seen and been through all types of markets - the good, the bad and the ugly.
We've learned that rich people never want to be poor so we are always trying to limit the drawdown. We know how and would rather protect our clients on the downside than be spectacular on the upside."
For the full story, click HERE.
For Immediate Release:
LISA THUER, LOCALTRADING & RESEARCH SPECIALIST, PARTICIPATES IN BLACKROCK’S
RIA LEADERSHIP SUMMIT FOR WOMEN IN ADVISORY
Palatine, Illinois, March 13, 2017 – Lisa Thuer of Kabarec Financial Advisors, Ltd., a Palatine-based trading and research specialist, recently participated in an exclusive Leadership Summit organized by BlackRock – the world’s largest investment manager – for leading female financial advisors.
At this prestigious two-day educational program, held March 7-8 in New York City, a select group of female advisors at top Registered Investment Advisor (RIA) firms met with BlackRock investment professionals to discuss the outlook for investing in 2017 and timely investment themes. The event featured a panel of female RIA leaders offering personal perspectives on how to overcome challenges and create success for women in the financial advisory profession.
“This special opportunity to gather with some of the brightest minds across the industry has equipped me with a valuable new set of investment insights to share with clients,” said Thuer. “In addition, hearing the powerful testimonies of other female leaders at the Summit gave me a fresh appreciation of the strengths that female advisors bring to our profession – and renewed my commitment to supporting the next generation of women in the field.”
Speakers at the BlackRock Summit included Hollie Fagan, head of BlackRock’s RIA business; Deborah Winshel, head of BlackRock’s Impact Investing business; and Heidi Richardson, head of Investment Strategy for U.S. iShares, the firm’s exchange-traded fund (ETF) business.
About Lisa Thuer
Influenced at an early age her father who often talked about investing and actively bought and sold stocks, Lisa developed a love of the markets. This passion lead her to a career in financial services.
Lisa started in the financial services industry after college. She began in 1990 working on the retail side. At Kabarec Financial Advisors Lisa's main area of focus is researching new investment ideas for clients’ portfolios. She also maintains the firm’s internal information and communication to ensure we are aware of any news regarding our investments and the impact it has on our portfolios. Another main area of focus is on placing investment trades as well as maintaining client asset allocations that coincide with the individual objectives and risk tolerance.
She received a Bachelor's degree in Business from DePaul University in Chicago.