The Master’s Minute

What happened to 70½? It’s gone! Well, almost. Because of the provisions in the new Secure Act, people who turn 70½ on or after January 1, 2020, will not be required to take minimum distributions from their IRAs until age 72. This new law also affects Qualified Charitable Distributions (QCDs) – the way to give to charities via your required minimum distributions (RMDs). Since this giving method is advantageous when… Read More

A new year is a traditional time for reflection, perhaps even more so as we enter a new decade in 2020. Resolutions vary, as there are things we should start doing, some we should stop doing, and others that we need to continue. This last category reminds us of a long-standing and resolute commitment at Master’s. When Master’s Advisors incorporated 20 years ago, we committed to contributing a portion of… Read More

“Never put off until tomorrow what you can do the day after tomorrow.” – Mark Twain Do you have your essential legal documents? No? You’re not alone. Aretha didn’t have them. Prince didn’t have them. Many of us ordinary folks don’t have them. So why do we put off getting them? Various reasons. Cost. Is it worth what I will have to pay to have them drafted? Feeling more than… Read More

At this time of year, we tend to have conversations with our clients about how to allocate their year-end cash flow such as bonuses, business profits, excess savings or gifts. When making these decisions, it is helpful to have already laid out a decision-making framework to determine how to analyze the options. Recently, a friend of mine approached me about an idea for an investment that, on the surface, seemed… Read More

Have you ever considered how amazing it is that we have been given the ability to see past the present and consider what might happen in the future? Expectation is an important aspect of our minds that allows us to anticipate the future. We make decisions and plan as we prepare for future events. Often the bigger the expectation, the more it occupies our time and affects how we live… Read More

It’s that time of year again! Thanksgiving Day is this Thursday, and then we have less than four weeks until Christmas. We tend to get into a festive mood during this time of year that often includes gift giving to family, friends, and charity. As I’m writing this, the Lancaster County Community Foundation is hosting a 24-hour giving program called the Extraordinary Give or Extra Give for short. The Extra… Read More

It’s hard to believe we are approaching the holiday season, and the celebration of Thanksgiving is just days away. Where has this year gone? I truly enjoy this season and all this particular holiday represents, as giving thanks and expressing gratitude take “center stage”. It only seems appropriate to use this opportunity to express our heartfelt thanks to each of you, our Master’s clients and friends. Simply put, our business… Read More

When Congress passed the new tax laws for 2018, one of the biggest changes was the increase in the standard deduction. This increase meant that significantly less Americans would itemize deductions. Many commentators were worried that this change would lead to a decrease in charitable giving. The law raised the after-tax costs of donating by 7%, according to The Urban-Brookings Tax Policy Center. As it turns out, this change did… Read More

I recently met with a friend who experienced a significant health challenge. He currently is in the recovery phase but still is unable to work and do many of the things he was used to doing. What struck me was his attitude. He told me, “I think this challenge was a present from God. It caused me to stop and evaluate what is really important in life. It gave me… Read More