Deep Dive On Year End Planning | Richard Rosso & Danny Ratliff

These smart steps can save you a lot of money

You may recall the 18-point year-end wealth planning checklist I sent to you a week ago.

Well, in today’s video, I sit down with Richard Rosso and Danny Ratliff, the financial planning experts at Real Investment Advice (Lance Roberts' firm) for a deep dive into these end-of-year best practices.

A top challenge regular investors have with year-end planning is that it sneaks up on them. The winter holidays arrive before you know it and then…a lot of these steps just don’t get taken.

Which is a shame, because a little prudent attention on these today can result in outsized benefits in the future.

Another challenge is that many investors just simply don’t know the right year-end planning steps to take, or how to take them.

So, with today’s video, we do our best to help you overcome both of these challenges — shining a bright light on the areas of biggest opportunity to position your wealth smartly before the January 1st deadline, and connect you with (free!) professional guidance if you don’t already have a good financial advisor to help you here.

Make sure you watch this soon, before the Thanksgiving holiday arrives, by clicking here or on the video below:

---

SET YOURSELF UP FOR SUCCESS IN 2025: The year end is approaching fast. Schedule a free, no-commitment consultation with one of Thoughtful Money’s endorsed financial advisors to identify the right steps (e.g., tax loss harvesting, portfolio rebalancing) to secure your 2024 investment returns and position your portfolio advantageously for 2025

---

I’m so grateful to everyone who has kindly supported me by becoming a premium subscriber to this Substack. It’s making an important difference in helping me afford the substantial operating costs of running Thoughtful Money.

Premium supporters receive my “Adam’s Notes” summaries to the interviews I do, the new MacroPass rotation of reports from esteemed experts, plus periodic advance-viewing/exclusive content. My Adam’s Notes for this discussion with Richard and Danny are available to them below.

If you, too, would like to become a premium subscriber to this Substack (it’s only $15/mo, less than $0.50/day), then sign up now below:

---

Adam’s Notes: Richard Rosso and Danny Ratliff (recorded 11.19.24)

EXECUTIVE SUMMARY:

• Year-end financial planning is often overlooked but essential for maximizing opportunities. It ensures that investors capitalize on tax strategies, align with their financial goals, and enter the next year prepared, whether they've had a successful year in the markets or faced challenges.

• The Real Investment Advice (RIA) team uses a multi-layered approach to financial planning, addressing investments, tax considerations, and psychological factors. This comprehensive strategy focuses on helping clients achieve their personal life goals rather than just outperforming market indices.

• Financial plans are tailored to each client’s unique circumstances, considering their life goals, risk tolerance, and financial situation. For example, a client with $500,000 might be advised that retirement is feasible, while someone with $50 million might still need adjustments to achieve their aspirations given their lifestyle costs & goals.

• The concept of "goal scooping"