Ep 50: Summer Sizzle- Your Mid-Year Financial Check-In

Do you understand the importance of conducting a mid-year financial check-in, especially for those with cross-border financial needs?

We cover various topics, including tax strategies, estate planning, insurance assessments, and preparations for college and travel that can be reviewed over the summer. We emphasize the importance of proactive financial management during the summer months, ensuring listeners are well-prepared for the remainder of the year.


Takeaways - Things you can do mid-year as part of your summer financial check-up

• Engaging with tax advisors in the summer is likely to yield better results.
• Charitable giving can provide tax deductions during the summer.
• Tax loss harvesting is a strategy to reduce taxable income.
• Estate planning is crucial before traveling overseas.
• College-bound kids need financial and medical powers of attorney.
• Insurance policies should be reviewed regularly for savings.
• Emergency funds should be assessed and adjusted as needed.
• Consult with immigration lawyers for visa holders.
• Review and adjust financial plans.

Chapters

• 00:00 Mid-Year Financial Check-In
• 12:08 Estate Planning Essentials
• 19:45 Insurance and Risk Management
• 23:57 Preparing for College and Travel
• 25:54 Final Thoughts and Summer Financial Tips

Episode Links & Resources

• Are you Tax-compliant With Your Overseas Assets? - Free Guide - Scroll to the bottom of the page.
• Tax-Loss Harvesting: How To Boost Your Portfolio Gains.
• Ten Tips On How To Pick A Tax Preparer

If you'd like to work with us on your finances or taxes, check out the process


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The speakers' views and opinions discussed in this episode should not be considered financial, tax, or legal advice. Consult your advisor for any legal, cross-border tax, and financial advice.