Derek Pszenny’s Post

A donor-advised fund can be an excellent tool to both maximize your charitable giving and minimize your tax burden, especially during your retirement years. While donor-advised funds offer powerful tax advantages, retirees should tread carefully. Misusing this tool can lead to unintended financial complications. For more insights, watch this short video snippet from my recent webinar, where I discuss common mistakes in using donor-advised funds. When choosing financial planning tools, ensure you're not using a hammer to tighten a screw

Have you thought of investing your money and watch it grow. we at Madison will help you actualize your dream.

Don't get caught out when life throws you a curveball! 🌪️⚾ Whether it's a sudden car repair, a boiler on the blink, or a job loss, life's full of surprises, and not all of them are pleasant. And that's where your emergency fund comes into play! 💰 We recommend having at least 3-6 months' worth of living expenses stashed away. It's your safety net when the unexpected happens, helping you stay afloat without breaking the bank. 📉🏦 Have you got your emergency fund in place? If not, then save this post as a reminder. 🔖 #DIYMoney #emergencyfund #safetynet #financialfreedom #financialeducation

I am fortunate that I've always had an emergency fund, which has come in handy when I've needed to take my dog to the emergency room or needed to make a car repair. Unfortunately life is unexpected, and we are sometimes hit with unexpected expenses. Although we can’t predict them, we can plan for them. Here are simple tips to start an emergency savings fund: https://ow.ly/6jlh50SsXcW #GuardianColleague

"A donor-advis...what?" -what people say when I tell them about my new job It's a giving account (tax-advantaged like your IRA or HSA), and I'm surprised how many people don't know about it. Charityvest makes giving really... delightful, tax-smart, fun, & simplified. Do you have a retirement account? Is giving important to you? You should probably have a giving account too. Get you one @ charityvest.org https://lnkd.in/gwWYEbqj

Wealthy people make costly financial mistakes too. A recent article discusses the following 11 mistakes financial advisors reported their wealth clients have made. To read the article, see the link in the comment below.   1. Concentrated Stock Positions 2. Siloed Financial Strategies 3. Inefficient Gifting 4. Overconfidence After Windfall Success 5. Lack of Next-Generation Preparedness 6. Irrevocable Wealth Transfer Plans 7. Spousal Lifetime Access Trusts (SLATs) 8. Inadequate Post-Liquidity Event Strategies 9. Inexperienced Family Offices 10. Delayed Charitable Contributions 11. Recency Bias in Investments

Please find our link to our December "Holiday" edition of "Not Your ORDinary Newsletter" entitled "Winter Wonderland" Season’s Greetings Everyone! What a difference a month can make. November kept its crown as the best performing month for stocks on the calendar (as discussed in our last newsletter), and investors are feeling a sense of relief after the 3-month correction that preceded it.  As we close in on the end of 2023, we thought we’d look at what this recent rally in the markets could mean for markets going forward, and sprinkle in a bit of commentary on the Canadian economy. To help illustrate our points, we’ll get into the festive spirit and borrow a few lines from the classic, “Winter Wonderland”. We’re sure to be hearing it a bunch over the next few weeks ’TIS THE SEASON OF GIVING The holiday season is a time of giving, and the time of year when the most donations to charity occur. We thought this was an ideal time to introduce The RBC Charitable Gift Program. To those who may not know about it, The RBC Charitable Gift Program provides many of the same advantages as a private foundation—without the upfront costs, complexities, and ongoing administration responsibilities #ordprivatewealthmanagement #portfoliomanagement #investing #giving #charitablegiving https://lnkd.in/gquFmEzW

Want to retire with peace? Let me help you plan! To help you open a new fund account easily. Start saving money for your old age life! Contact me ANN. #publicmutualberhad #tgwax8020empire #balancelifestyle #retirementplanning

Okay. Now we are getting to the meat of the challenge. Week 1 we assessed and organized our finances. Week 2 we are starting the savings and planning stage. Today we are looking at starting our foundational fund otherwise known as an emergency fund. Today open up a high-yield savings account and just deposit $20. If you can do more do so. Checkout my IG LIVE where Nickole Diaz with Transformation Circle shared some great high-yield savings account suggestions IG - @AskVictoriaFinancialBoutique #AskVictoria #FinancialLiteracy #FinancialEducation #HighYieldSavings #EmergencyFund #FoundationalFund

Worried about your big day? Say 'I do' to sinking funds! 🎩💍 Start setting aside a little each month, and watch your wedding fund bloom. Sinking funds ensure your special day is stress-free and financially sound. Let love lead, with savings paving the way! 💑💰 #WeddingSavings #FinancialPlanning