Year-end checklist and CD alternatives
Asked Santa for a Bigger Couch
On behalf of everyone on the Crosby Advisory team, thank you to those who stopped by for donuts, coffee & hot chocolate, and to hang out with us on November 7th. It was great seeing you. We got quite a jump start on the holiday season!
I also want to sincerely thank everyone who generously dropped off coats for our first annual coat drive. We have surpassed all expectations thanks to your help! Giving back and supporting the Ashland community has been a goal of ours since we opened our doors and it is not possible without the support and trust of you.
End of Year Checklist
Use this list as 2026 comes to a close:
- Max out IRAs -You have until tax filing to fully fund your IRAs for 2026. My advice is if you get a tax return, a Roth IRA may be a better choice. If you earn too much for a direct contribution to a Roth IRA, talk to your advisor about a back-door Roth or a Life Insurance Retirement Plan.
- Tax Loss Harvest - Review your holdings with your advisor to see if there are any holdings in your taxable accounts that are down. Selling investments that are below your cost basis can help offset some gains and income.
- If you have a taxable account with SEI, talk to your advisor to see if a securities-backed line of credit makes sense for 2027. This line of credit has no cost to set up and you are not required to use it. Best of all you don't have to qualify for it through credit and it carries an interest rate that is currently below most home equity lines of credit.
- Review your life insurance coverage.
- Make a goal of creating an emergency account for 2027. We can show you how.
- Review your 2026 Holistiplan tax report with your advisor to coordinate a tax investment strategy for 2027.
- Make sure your beneficiaries are current.
- Evaluate your income to make sure your savings rate is a minimum of 11% of your gross income. If you are behind on retirement savings schedule a meeting with your advisor.
CD Alternative
With rates climbing higher, multi-year guarantee annuities (MYGA) have become popular again for clients with CDs maturing below 5%. This newsletter will get flagged from our compliance software because I used the word guarantee, but that's what they are called! A multi-year guarantee annuity provides a fixed rate of return for 2, 3, 5 or 7 years. Augustar has a 7-year MYGA that is at 6.20% for deposits over $100,000 or 6% for deposits under $100,000. What I find nice about these products is you can take the interest as it accrues, even in the first year without penalty. Interest that is not taken is tax deferred. Better yet, hold the MYGA in a Roth IRA and never pay tax again.
Podcasting Legend
In October, Lindsay and I spent an evening at the Chagrin Falls library, listening to Jim Harold who is the host of several podcasts, including Jim Harold's Campfire, the Paranormal Podcast and the Paranormal Report, which he hosts with his wife Dar. Jim was podcasting before it became popular. I've been a big fan of his work for years and one time ran into him at a restaurant in Mentor. He is a great guy and if you are into spooky and strange stories, I highly recommend checking him out. www.jimharold.com.
Disclaimer: Crosby Advisory Group, LLC is a registered investment advisor. This newsletter is for general knowledge and is not intended to be individual investment advice. Investing involves risk including potential for loss. Understand all risk and fees before investing. NMD Insurance is affiliated with Crosby Advisory Group, LLC.
