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Monthly Archives: February 2020

Could an Alternative Investment Strategy Work for You?

You may have heard of alternative investments without knowing exactly what they are. Are they different types of common investment products, like stocks or bonds? And what are they an alternative to? Read on to find out.

The term “alternative investment” doesn’t refer to any asset that’s part of the more typical categories, like stocks, bonds, cash, etc. Alternative investments typically include things like private equity, hedge funds, real estate and other tangible assets. Since they’re outside of the “norm,” they can have a different set of rules.

For one, they normally aren’t regulated by the SEC. They can be examined by the SEC, but they don’t have to be registered and aren’t overseen or heavily regulated the way the stocks, mutual funds or ETFs may be.

Alternative investments can be a great way to diversify your portfolio and hedge against inflation while offering potential for high rewards—these can come at a price, though. Alternative investments typically have a high barrier to entry and often require a much more substantial investment, both in time and money, than conventional investments.

If you’re considering alternative investments, it would be a good idea to talk to your financial advisor or similar professional. They can help you manage the risks and prepare you for diving into the world of alternative investments. If done right, they can be the perfect supplement to your portfolio.

Are alternative investments the right choice for your portfolio? We can help you decide.

Advisory services offered through Larson Financial Group, LLC, a Registered Investment Advisor.
Securities offered through Larson Financial Securities, LLC, member FINRA/SIPC.
Larson Financial Group, LLC, Larson Financial Securities, LLC and their representatives do not provide legal or tax advice or services. Please consult the appropriate professional regarding your legal or tax planning needs.

Should I Hire a Professional to Do My Taxes, or File Myself?

Tax time could be a stressful time of year and one that means impending expenses to be paid, or it could be a breeze so much so that you wonder why everyone has a freak out around tax time. A way to potentially ease your tax-time stress is filing your taxes the right way—and no, we don’t mean jointly or separately.

The choice of choosing whether you want to hire a professional vs. handling it yourself can be likened to any job or project. Cost is a factor, as is time investment and skill. Let’s take a look at some advantages of both methods.

Filing Yourself

If you file yourself, you’ll usually save a good bundle of money. There are tons of services out there that let you file your taxes yourself—often, for little or no cost. If you’re looking for the budget-friendly option, filing yourself is probably it.

You can also save yourself a lot of time by filing separately if you don’t have very complex financial needs. If you aren’t itemizing and looking for every deduction, you can breeze through the process in no time at all by filing online. If you’ve got a more complex situation, this option may be best left by the wayside.

Hiring a Professional

By hiring a professional to do your taxes, you can add a personal element. Like a trusted family physician, an accountant can learn about your specific situation and what’s important to you. They can even make suggestions you’d never think of. Never underestimate the value of good advice.

Accountants also shine when it comes to complex situations. If you’ve got a lot of different deductions, or you may be managing a business or two plus a few rental properties, filing taxes can quickly become overwhelming. Having a knowledgeable resource to answer your questions and wade through the murky areas can be a lifesaver.

The Bottom Line

When everything is said and done, you need to consider your or your family’s personal situation. Are you looking for a budget-friendly, speedy and simplistic approach? Or, are you trying to find a knowledgeable expert to handle your complex financial needs? That will determine how best to proceed.

Do you have complex financial needs and would like to hire a professional? We can help.

Advisory services offered through Larson Financial Group, LLC, a Registered Investment Advisor.
Securities offered through Larson Financial Securities, LLC, member FINRA/SIPC.
Larson Financial Group, LLC, Larson Financial Securities, LLC and their representatives do not provide legal or tax advice or services. Please consult the appropriate professional regarding your legal or tax planning needs.