Alterra Advisors

5 Mistakes People Make in a Recession and How to Avoid Them

There’s no getting around it – recessions are stressful. The 2020 COVID-19 pandemic is just the most recent reminder. Recessions bring volatility, uncertainty, anxiety and the urge to act – do something, anything, to make sure I’m safe. This is often where people make mistakes. Here are a few common ones we see and how to avoid them so you’re ready the next time around.

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Should I Leave Washington State to Avoid the Estate Tax?

How much of our nest egg will be lost to estate taxes when we pass? Is there anything we can do? Would moving to another state help? Washingtonians face an additional burden because Washington adds a 10-20% state estate tax on top of federal estate taxes. So, is moving to another state the only solution? Before you put up that for sale sign, here are a few other options to consider.

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Recessions – How Bad Are They & How Long Do They Last?

Turn on the TV or scroll through a news feed in uncertain times and you’re sure to see that nasty “R” word – Recession. “How bad will this be?” “How long will this last?” It’s not uncommon to hear, “This one is different!” or “We’ve never seen this problem before!” So, what does history have to tell us about this topic?

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Is Your Home an Investment?

“Why are you throwing away money on rent when you could own?” Have you ever heard this? Its core assertion is that renting a home is an expense while owning a home is an investment. For most homeowners, however, this is unlikely to be the case.

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Can Losses Increase My Investment Return?

No one likes a seeing their investments lose value. But, as advisors, we ask what opportunities exist in any situation, including market downturns. One such opportunity is called tax-loss harvesting. We discuss what it is, how it can help and when you might consider using it.

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Backdoor Roth IRAs – What Are They and Are They Worth It?

Roth IRAs are one of the few ways to build tax-free retirement income. And with a long retirement time frame, they can build quite the snowball. But, if you make too much income, the IRS won’t let you contribute. Fortunately, for many, the Backdoor Roth IRA can help…so is it worth the extra effort?

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