An informative and useful financial and tax seminar was held at the Texins Activity Center on February 20, with some 30 retirees, former TIers and guests in attendance. The financial seminar was presented by Steven Combest, CFP. Financial Advisor, with Combest Wealth Management, LLC. He handed out a publication of Advisor Group, Market Matters, which gave the highlights of Q4 2019 Economic & Market Review of the U.S. Steve commented on the statistics which showed continued growth in the U.S. along with an increase in caution in the near term. He noted that in this environment,some investors are rebalancing portfolios, adding to holdings of quality dividend stocks,while others considered companies with pricing power. He also pointed out a useful website, www.finra.org , which has many helpful tools for investment research, including mutual funds and 529 accounts. Following a review of 2019, he gave a presentation on the outlook for 2020, based on material from the Capital Group, American Funds. A copy of his presentation is posted on the TIAA website. Following the break, Steve introduced Rick Scauzillo, CPA CGMA, of The Scouzillo Firm, PLLC, based in McKinney. He brought the group up to date on recent tax legislation known as the SECURE (Setting Every Community Up for Retirement Enhancement) Act. He highlighted the changes for the 2020 tax season, which would be of special interest to retirees, such as increased standard deduction for 65-plus, and changes to the rules on when required minimum distributions must be made. He also went into detail on the changes in how IRAs and retirement plans are distributed to heirs. There were numerous questions during the presentations, and both speakers were willing to stay overtime to discuss and answer the questions. These presentations can be seen by clicking on education seminars.
Financial/Tax Seminar Held February 20, 2020
