Tax selling and rebalancing could be a financial gift this holiday season
Freddy Garcia, vice president for investments for Left Brain Wealth Management, discusses year-end financial strategies that investors should consider before it's too late, noting that there's real value to using losses to offset gains from big winners, even in cases where you expect the losing stock to become a winner in time. The tax savings can ease the burden from trimming back issues with oversized winnings, Garcia says, and the promising stock can be repurchased down the line. Garcia said year-end also is the time to plan out income needs for the coming year, and to plot through distributions and Roth IRA conversions.