Get the Satisfaction of a Fresh Start This Spring

Published: Wed, 05/08/24

Updated: Wed, 05/08/24

Your Local Resource for Expert Financial Guidance and Support

Ready to Roll? The Process Made Simple

If you find yourself overwhelmed by the number of accounts you have to manage — from retirement and investment accounts to bank accounts and trusts — you're not alone. It's all too easy to lose track of them all. Consolidating 401(k)s and other retirement accounts can simplify your financial situation, and just like a good spring cleaning, it offers the satisfaction of a fresh start.

In recent weeks, the Capstone team has been diligently assisting clients with rollovers and consolidations.

It's common to accumulate several retirement accounts in different places, including 401(k) plans from previous employers and various financial institutions. When transitioning from one job to another, the decision of whether to leave your retirement contributions in your old 401(k) or roll them over into your new employer's plan or an IRA can be daunting. The good news is that you have flexibility in timing this decision. You can take action immediately upon leaving a job, or you can delay it.

On the other hand, just because you're leaving your job doesn't mean you have to walk away from your employer's retirement plan. There may be advantages to leaving money in your old employer's plan.

Recently, a Capstone client started a new job and was unsure about what to do with her retirement account. We provided guidance, helped her evaluate her options, and then facilitated the process of rolling her previous retirement account into her new employer's SIMPLE plan.

Additionally, we assisted a client who was concerned about the performance of his 401(k) account with an outside financial institution. Upon reviewing the account, we identified that he had taken on too much risk, resulting in significant losses. We made adjustments to better align with his time horizon and risk tolerance.

Consolidation: Simplifying Accounts Under One Roof
Consolidating your financial accounts can streamline money management, making it simpler, faster, and easier, particularly if you've experienced account proliferation over the years. By reducing the number of accounts and financial providers, you can gain better control over your finances with less effort and room for error. Some advantages of consolidation include:

• Lower administrative fees.

• View your portfolio holistically.

• Monitor investments in one place.

• Add more clarity to your retirement picture.

• Prepare your taxes more easily.

• Make estate planning and management more straightforward

Let’s Take a Closer Look
If you have a 401(k) or another account with an outside provider, Capstone can review its performance and assist you in making adjustments. We'll explore various options, assess risk, and provide recommendations on current or new funds and allocation adjustments. Rest assured, the process is straightforward and painless. We can even conduct reviews over the phone or via Zoom. We do these reviews often and enjoy the satisfaction of helping clients find clarity and enhance their overall financial well-being.

Saving for the future shouldn't feel like work. If you're ready to move on your IRA rollover or account consolidation, we're here to assist you every step of the way. Call us with questions or to get started today.

Economic Update: Key Takeaways from April

Inflation, a topic that just doesn’t seem to be going away, is still causing volatility within the markets. As investors looked forward to as many as six interest rate cuts, and the three that were certainly penciled in by the Feds, to now, a possibility of no cuts at all. Some may argue that this is an extreme situation, how do we have such a robust economy while inflation is still exceptionally high and no relief in sight? Simply put, people are spending money, which is improving the economy, raising prices, and causing the decline in inflation to stall.

At this point investors are giving up on the dream of lower interest rates anytime soon and the reality of higher borrowing costs is starting to set in. Currently the Fed’s are not seeing the progress they previously anticipated and hoped for to lower the interest rates. If inflation continues to remain sticky and remains on its current path, we are likely to see higher interest rates for an extended period. In the meantime, officials will continue to work pump the breaks on a fast-growing economy and snuff out price increases more fully.

If we want to see lower interest rates, inflation needs to dramatically slow down. How do we reduce inflation, in addition to raising the interest rates? We stop spending money. The fast-paced rise of the economy will begin to slow, prices will go down, and inflation will begin its decline.

See the latest weekly economic update here.

A Shout Out to Small Business Owners

Being a small business owner takes grit. We know our small business clients and friends to be adaptable, resourceful, resilient and future-focused. They are innovators and job creators. Since Small Business Week is celebrated in May it’s the perfect time to recognize the contributions of business owners, entrepreneurs and their employees to our Colorado communities.

According to the U.S. Small Business Administration, there are approximately 684,726 small businesses in Colorado, making up 99.5% of businesses in the state and showing just how essential they are to the overall business community. Small businesses are represented across the state in every sector. Spanning from tech companies to food services, the small business community continues to grow and thrive in Colorado, employing 1.2 million workers statewide. Colorado small business employment growth exceeds the national small business employment growth rate and 47.3% of Colorado employees work at a small business.

Capstone honors (and shares!) the small business owner’s relentless spirit of entrepreneurship. Keep up the good work. 🚀

Visit the Colorado Chamber of Commerce for more information and resources for small businesses.

Reminder: We're in Our New Colorado Springs Office

Capstone's new Colorado Springs office is located at 620 N Tejon Street. We’re currently in Suite 101 until our permanent Suite (#202) becomes available. There is no change to our Denver office. Stop in and say hi!

Celebrate Mom

Wishing all the mothers and grandmothers a very Happy Mother's Day!

Here are two ways to celebrate on May 12th:

1. Brunch at the Colorado Springs Fine Arts Center

2. "Spirit Guides" on display at Denver Botanic Gardens.

Photo at top: Colorado National Monument. Photo by N. Scarborough, National Parks Service

Capstone built our reputation on friendly service, impeccable honesty, and respect for every client. Our clients’ needs drive our relationship, and the focus is always on you. We strive to be highly responsive to your requests and are skilled at creating solutions customized to your goals, values, and situation. Reach out anytime with questions. We're happy to help!

Capstone Investment Financial Group, LLC

Colorado Springs/Denver

719-477-9883

[email protected]

620 N Tejon St
Colorado Springs CO 80903
USA

Unsubscribe | Change Subscriber Options