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Money and Marriage – Getting Hitched Pays! 07.21.2023

“It’s not so much who wears the pants, but how much money is in the pockets.” 

Money and marriage often dance together in a delicate waltz of financial decisions and shared goals. For better or worse, money plays a significant role in the dynamics of a marital relationship. From (sometimes) merging bank accounts and setting joint budgets to navigating financial disagreements, couples must learn to communicate openly and honestly about their financial attitudes and priorities.

Money and Marriage – Getting Hitched Pays!

Money can either be a source of stress and conflict, or an empowering tool for building a solid future together. By working as a team and aligning their financial values, couples can unlock the true potential of their partnership, achieving not only financial security but also a deeper understanding and connection with each other. Ultimately, finding a harmonious balance between love and money becomes the key to a successful and fulfilling marriage. 

While money and marriage can be complicated, there are many financial benefits of marriage that are undeniable, and can help with the decision to tie the knot. For some, it’s like having a built-in financial advisor and budgeting buddy, except they’re also your forever Netflix partner. Imagine splitting the bills, sharing expenses, enjoying two incomes, and budgeting together – minus Monty Hall, it’s like a never-ending game of “Let’s Make a (Financial) Deal!” 

Money and Marriage | Let's Make A Deal

While the financial benefits of marriage should probably not be the number one priority when deciding whether to tie the knot, if the money and marriage connection is of interest to you, below you will find some of the key economic advantages to getting hitched! 

1. Two incomes, shared cost

Combining two incomes often leads to increased financial security and a higher standard of living. With two individuals earning an income, there is more money available to cover essential expenses, build savings, and invest for the future. This can make it easier for couples to achieve their financial goals, such as buying a home, paying off debt, or saving for retirement. 

In addition to combined incomes, the benefits of shared costs in a marriage extend far beyond just splitting expenses. Sharing costs as a married couple can lead to a more efficient and effective use of resources, fostering financial stability and security. It also enables spouses to pool their resources, which can lead to increased purchasing power and potential savings on everyday expenses, from groceries to utility bills. Moreover, sharing costs can alleviate financial stress and reduce the burden of individual financial responsibilities, promoting a sense of teamwork and mutual support within the marriage. Ultimately, when considering money and marriage and by sharing costs, couples can build a stronger financial foundation and navigate life’s financial challenges as a united front, reinforcing the bond that comes with being partners in both love and money. However, many of the cost benefits of tying the knot become moot when kids enter the picture! 

2. Tax Benefits 

Marriage also provides opportunities for tax benefits, as mentioned in greater detail in the TPW Taxes section below. Compared to single filers, couples filing jointly can potentially lower their overall tax liability and access various tax credits and deductions that might not be available to single individuals. This can result in significant savings. 

3. Insurance 

When you’re married, health insurance and employee benefits can be more advantageous. Many employers offer benefits packages that cover spouses, which can lead to better healthcare coverage and reduced medical expenses. This can be particularly valuable if one spouse’s employer provides superior health insurance options compared to the other’s. Additionally, married couples oftentimes qualify for lower premiums on automobile, homeowners, and other insurance policies, as rates can go down when you get married. This is because insurance companies consider married couples more financially stable and risk-averse. 

Car insurance Rates By Martial Status

4. Access to credit 

It can be more cost-effective to obtain credit when you are married, thanks to the combined financial strength of the couple. Lenders often take into account both spouses’ incomes and credit histories when evaluating credit applications, which can lead to more favorable terms and lower interest rates. With a higher combined income, the couple may qualify for larger credit limits and better loan terms, such as lower APRs on credit cards or mortgages. Additionally, if one spouse has a stronger credit score than the other, their financial credibility can positively impact the overall creditworthiness of the application. This can translate into more competitive offers and increased access to credit options, ultimately making borrowing more affordable for the couple as they embark on shared financial endeavors. 

However, it is important to note that when it comes to money and marriage, getting married doesn’t impact your individual credit score, and credit reports are not combined. 

5. Social Security 

Social Security benefits can be more lucrative when you are married, thanks to certain spousal benefits and strategies. For instance, a married individual may be eligible to receive a spousal benefit, which allows them to claim Social Security based on their spouse’s work record. This can be especially useful if one spouse has a significantly higher lifetime earnings history. Additionally, married couples can strategically coordinate their claiming strategies to maximize their combined benefits. For example, the higher-earning spouse can delay claiming their Social Security, allowing their benefit to grow over time, while the lower-earning spouse can start claiming earlier, providing some income for the couple. By leveraging these spousal benefit options and optimizing their claiming strategies, married couples can enhance their overall Social Security income and ensure a more financially secure retirement together. 

Click the image below if you would like us to assemble a fully-customized andcomplementary Social Security Optimization Analysis for you and your spouse. 

Social Security Benefits Estimator

To be clear, love comes first! However, when it comes to money and marriage, the financial benefits of taking the plunge can be substantial. From the potential for lower tax liability and enhanced access to tax credits, to increased earning potential and improved savings opportunities, marriage can provide a solid foundation for a couple’s financial well-being. Sharing costs and combining resources can lead to a more efficient use of income, empowering couples to pursue shared financial goals with greater ease. Moreover, the ability to strategize and optimize benefits, such as Social Security and retirement accounts, further strengthens the financial advantages of being married. While every individual situation is unique, the potential for financial stability, increased security, and shared prosperity makes marriage an appealing option for many couples seeking to build a brighter financial future. 

Marriage and Money Married Share Newsletter

Click the Wealth Management Philosophy thumbnail image below to learn more about exactly how we help our clients save and invest for retirement while minimizing taxes.

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This past Tuesday, most of the Towerpoint Wealth team participated in The Cathedral of the Blessed Sacrament’s Brown Bag Lunch Program in downtown Sacramento. In response to the growing numbers of downtown homeless needing food, nourishment, and kind words, the TPW team prepared and then handed out nutritious brown bag lunches (consisting of a protein, a fruit, a healthy carb, and a bottle of water) to feed approximately 150 homeless men and women.  Click on the video and watch a small recap of our morning.

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Marriage and Money Getting Hitched Pays


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What is a Fiduciary Financial Advisor?

A fiduciary financial advisor is a trusted professional who operates with the utmost integrity and puts their clients’ best interests above their own. Unlike other financial advisors, an advisor with a fiduciary duty has a legal and ethical obligation to act solely in the best interest of their clients, ensuring that any advice or recommendations provided are completely unbiased and aligned with the client’s personal and financial goals and needs. The highest standard of care in the wealth management industry, it instills confidence in clients, knowing that their advisor is committed (and legally obligated) to transparency, honesty, and prudent financial practices. 

Are you working with or considering working with a broker, who is only obligated to the suitability standard?If so, it is essential to understand how the fiduciary duty that a fiduciary financial advisor has to their clients is different. 

Click the image below to watch an excellent educational video, designed to help you learn more! 

Click HERE to browse TPW’s library of other wealth-building and wealth-protecting educational videos.

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Marriage and Uncle Sam

The More You Know About Taxes.

Married couples who choose to file their taxes jointly can enjoy several significant tax benefits. One of the primary advantages is the potential to lower their overall tax burden. When filing jointly, couples can often take advantage of more advantageous tax brackets, which means they may pay a lower percentage of their income in taxes compared to filing separately. Additionally, the standard deduction, as well as certain tax credits and deductions (such as the Earned Income Tax Credit (EITC) and the Child Tax Credit), can be more accessible or higher in amount for couples who file jointly. These benefits can directly reduce the amount of tax owed or result in a larger tax refund. Want proof? See the 2023 IRS income tax brackets found below: 

Marriage and Money Married Filling Jointly | 2023 IRS income tax brackets

Another key benefit of married filing jointly is the ability to contribute to Individual Retirement Accounts (IRAs) and Roth IRAs, even if one spouse does not have earned income. Funding a “spousal IRA” allows a working spouse to contribute to a non-working spouse’s retirement account. This can be an effective strategy to boost overall retirement savings and potentially reduce the couple’s taxable income. By pooling their resources and filing jointly, married couples can often optimize their tax situation and maximize the financial advantages offered by the tax code. However, it’s essential for couples to carefully evaluate their specific financial situation and consult with a tax professional to determine the most beneficial filing status for their needs. 

Click the image below or view our 2023 Tax Reference Guide, and download an excellent resource intended to help you stay on top of and organized with your tax planning this year!  

2023 Tax Reference Guide

Have questions or concerns about filing your 2022 tax return?
We welcome connecting with you and are happy to help. Click the banner below to message Steve Pitchford, Steve Pitchford, Certified Financial Planner.

Steve Pitchford, CPA, CFP® Director of Tax and Certified Financial Planning
Chart of The Week Wealth Advisor Near Me

Thanks to Chartr for the caption and the chart! 

Data from Pew Research reveals that an astonishing 25% of 40 year olds in the US have never been married, marking a record high share. In 2010, the corresponding figure was 20%, and if we go back to 1980, just 6% of 40 year olds had yet to tie the knot. 

The data fits with the longer-term trend in marriage — people have been getting married at a lower rate and generally later in their lives. Indeed, the typical age for men to say “I do” was just over 30, while women typically married a few months after their 28th birthday, according to the US Census Bureau. Both these ages have increased by around 5 years since the turn of the century. In 2000 the median age for men and women to get married was 26.8 and 25.1, respectively, and if you go back to the 1950s, women were typically getting married just after they turned 20. 

 US Census Bureau Getting Hitched

In light of how unsettled the economy and markets are, are you concerned or worried about

the bonds in your portfolio, and/or the overall level of risk you are taking in your portfolio? Message us to discuss your circumstances.

Our Community Financial Advisor Near Me

While the global 24/7 news cycle churns, twists, and turns, here are a number of fun, local trending events of note: 


As always, we sincerely value our relationships and partnerships with each of you, as well as your trust and confidence in us here at Towerpoint Wealth. We encourage you to contact us at any time, or call or email us (916-405-9140info@towerpointwealth.com) with any questions, concerns, or needs you may have. The world continues to be an unsettled and complicated place, and we are here to help you properly plan for and make sense of it.

 Joseph EschlemanJonathanSteveLoriNathanMichelleLuis, and Megan

Sacramento Financial Advisor Towerpoint Wealth Team

We enjoy social media, and are actively growing our online community!

Follow us on any of these platforms, message us there and let us know your favorite charity.
We will happily donate $10 to it!

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What is Your ROI For Real Estate? 07.07.2023

ROI, or return on investment, measures the profit earned on an investment after all costs of the investment are deducted. ROI for real estate is simply a measurement of the return on an investment property.

Real Estate ROI calculation

Your real estate ROI is a critical metric that every real estate investor should know and compute regularly, yet many fail to do a real estate ROI calculation when determining whether to purchase, or continue to hold, an investment property.

Factors For ROI real estate investing

Here are five key things to consider when doing a real estate ROI calculation, all extremely important and useful when evaluating whether or not it is prudent to buy, or hold, a piece of investment real estate:

1.     Income generation

Real estate investments almost always generate income through rental properties, such as residential apartments, commercial spaces, or vacation rentals. The ROI for real estate in this case is calculated by dividing the net income (“top line” rental income minus expenses like maintenance, taxes, insurance, and vacancy rates) by the initial investment. A higher real estate ROI indicates better income generation potential and increased profitability.

2.     Appreciation

Real estate values have historically appreciated over time, allowing investors to benefit from capital appreciation. A real estate ROI calculation should take into account the increase in property value when determining returns. To calculate real estate ROI based on appreciation, subtract the initial investment cost from the final sale price of the property and divide it by the initial investment. A higher ROI signifies a significant appreciation in the property’s value.

real estate ROI Nominal House Prices

3.     Cash flow

Positive cash flow occurs when your rental income exceeds your property expenses and mortgage payments, and is an essential component of ROI for real estate. Positive cash flow allows investors to recoup their initial investment while still generating income, while negative cash flow can reduce real estate ROI, as it means the investment is not generating enough income to cover all expenses.

4.     Leverage and financing

Real estate investments often involve leveraging (borrowing) money through mortgages or loans. This allows investors to maximize their returns by using other people’s money. The ROI for real estate calculation considers both the initial investment and the costs associated with financing. However, it’s important to assess the risks associated with leverage, such as interest rates, market fluctuations, and debt service coverage ratios.

Commercial and residential real estate mortgages

5.     Time horizon

The time frame in which an investment is held can significantly impact your real estate ROI calculation. Real estate investments are generally considered long-term, and ROI for real estate calculations should reflect this perspective. Over time, real estate investments can experience fluctuations in income and value. It’s crucial to consider the overall return over the holding period rather than shorter-term variations.

Click the image below for an excellent and downloadable template spreadsheet to use when doing an initial real estate ROI calculation.

Real Estate ROI Calculation

Real estate ROI is a comprehensive tool for investors to gauge the profitability of their real estate investments. By considering factors such as income generation, property appreciation, cash flow, leverage, and the investment’s time horizon, individuals can make informed decisions and assess the potential risks and rewards associated with real estate investments. However, it is important to remember that real estate markets can be dynamic and subject to various economic and market conditions. Therefore, thorough due diligence, proper risk assessment, and ongoing monitoring are essential for optimizing a real estate ROI calculation.

By leveraging the power of ROI for real estate, investors can navigate the complexities of the real estate market and strive to maximize their returns while building a robust and diversified investment portfolio.

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Click the Wealth Management Philosophy thumbnail image below to learn more about exactly how we help our clients save and invest for retirement while minimizing taxes.

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Towperpoint Wealth team

Last Thursday the entire Towerpoint Wealth team headed to Oakland for a teambuilding event, watching the A’s take on the Yankees at the Oakland Coliseum. While the home team did not bring home the ‘W,’ the TPW team enjoyed a full day of ballpark activities and each other’s company.

Congrats to the Yankees on their victory, making both Nathan and Michelle very happy!

Click HERE to message us with any questions or concerns you may have about your retirement right now.

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The Sacramento Housing Market is Heating Up!

Right now, the Sacramento housing market is experiencing a scarcity of available homes. This lack of supply, coupled with inflation and higher interest rates, is making it more expensive for borrowers to obtain loans. As a result, many homeowners with low mortgage interest rates are hesitant to sell and move. Concurrently, our limited housing supply has led to increased demand, providing support to home prices, even with money being more “expensive” now.

Put differently, our real estate market here in Sacramento continues to be both a challenging one, and an unusual one, to unpack and understand.

Despite these challenges, the Sacramento housing market is still better than some might perceive. Click the image below and enjoy taking a few minutes to watch a recent discussion our President, Joseph Eschleman, shared with ABC10 news anchor Lora Painter, as the two shine light into some of the more recent developments in the greater Sacramento real estate market, and the impact they’re having on homeowners, renters, and investors like you.

Real Estate ROI Sacramento Real Estate Market

Click HERE to browse TPW’s library of other wealth-building and wealth-protecting educational videos.

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The (Higher) Standard Deduction

The More You Know About Taxes.

Taxpayers often get frustrated when they are unable to itemize their taxes due to the higher standard deduction. Itemizing allows individuals to list and deduct specific expenses, such as mortgage interest, property taxes, medical expenses, and charitable donations. It gives them a sense of control and the opportunity to potentially reduce their taxable income. However, with the introduction of a higher standard deduction, many taxpayers find that their itemized deductions no longer exceed the standard deduction threshold, making it less advantageous to go through the itemization process.

Standard deduction Taxes - 2023 Tax IRS

Realistically, a higher standard deduction has many advantages and can be beneficial for many taxpayers. It simplifies the tax filing process by eliminating the need to gather and itemize numerous expenses, which can be time-consuming and complicated. Additionally, a higher standard deduction increases the threshold at which itemizing becomes advantageous, allowing more taxpayers to benefit from a reduced tax liability.

Overall, a higher standard deduction promotes fairness, simplifies the tax system, and provides a broader reach of tax benefits to a larger population.

Click the image below to view our 2023 Tax Reference Guide, and download an excellent resource intended to help you stay on top of and organized with your tax planning this year! 

2023 Tax Reference Guide

Have questions or concerns about filing your 2022 tax return?
We welcome connecting with you and are happy to help. Click the banner below to message Steve Pitchford, Steve Pitchford, Certified Financial Planner.

Steve Pitchford, CPA, CFP® Director of Tax and Certified Financial Planning

Chart of The Week Wealth Advisor Near Me

While the shorter-term returns of the stock market over the last year have handily exceeded the long-term average (see 1-Year column below), performance over the last two years has been equally extreme in terms of underperformance.

Quoting Bespoke Investment Group (thank you to them for the chart as well):

“As easy as it is to say the market has gotten ahead of itself, it is just as easy to look over a different time period and say that it has fallen behind. It all depends on your timeframe.”

S&P500 Current Average Total returns

In light of how unsettled the economy and markets are, are you concerned or worried about

the bonds in your portfolio, and/or the overall level of risk you are taking in your portfolio? Message us to discuss your circumstances.

Our Community Financial Advisor Near Me

While the global 24/7 news cycle churns, twists, and turns, here are a number of fun, local trending events of note: 


As always, we sincerely value our relationships and partnerships with each of you, as well as your trust and confidence in us here at Towerpoint Wealth. We encourage you to contact us at any time, or call or email us (916-405-9140info@towerpointwealth.com) with any questions, concerns, or needs you may have. The world continues to be an unsettled and complicated place, and we are here to help you properly plan for and make sense of it.

 Joseph EschlemanJonathanSteveLoriNathanMichelleLuis, and Megan

Sacramento Financial Advisor Towerpoint Wealth Team

We enjoy social media, and are actively growing our online community!

Follow us on any of these platforms, message us there and let us know your favorite charity.
We will happily donate $10 to it!

Click HERE to follow Towerpoint Wealth on LinkedIn
Click HERE to follow Towerpoint Wealth on Facebook
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FIRE Investing for Financial Independence! 06.23.2023

In the realm of investing, where opportunities crackle and fortunes are forged, there exists an incandescent area known as FIRE investing. FIRE is an acronym for Financial Independence, Retire Early, and as the flames of financial independence burn brightly, FIRE investing embraces the goal of a self-sufficient life, early retirement (many FIRE investing adherents target a retirement in their late 30s or 40s), and liberation from the shackles of traditional employment.

Financial independence | Fire Investing

Embracing a philosophy of intentional living, sacrifice, disciplined saving, and strategic investment to fuel the flames of wealth accumulation and financial independence, FIRE investing maintains a fervent focus on frugality and aggressively saving money. FIRE followers focus on living well below their means so they can save and invest large portions of their income, all in the interests of achieving an early retirement and complete financial independence.

Think you have the discipline, tenacity, desire, and guts to become a FIRE investing disciple? The first rule is to calculate your FIRE number, and then practice the four key tenets.

Computing your FIRE number is akin to figuring out the approximate amount of money you need to reach financial independence. While this is a very subjective analysis with many variables to account for, the very general rule of thumb is to multiply your anticipated annual expenses by 25.

Financial independence | Fire Investing Estimate example

This FIRE number equation is simply an estimate, it does not account for inflation, increased medical expenses, pensions and Social Security, real estate equity, anticipated inheritances, and a myriad of other variables. But it’s a starting point, and once you have determined it, you can then begin practicing the four key tenants of FIRE investing:

1.     Aggressive savings – between 40% to 70% of your annual income!

FIRE practitioners aim to maximize savings by adopting a frugal lifestyle and by tracking and minimizing expenses (see tenant four below). They usually create a disciplined budget and look to increase their earned income by asking for a raise, finding a higher-paying job, or adopting a side-hustle, all in the interests of increasing their capability to save, and accelerate the growth of their portfolio and net worth.

bar chart financial independence

2.     Strategic investing

FIRE investors recognize the power of strategic investing to generate wealth over the long term. They diversify their investment portfolio across different asset classes, such as stocks, bonds, real estate, and possibly alternative investments. By following a disciplined investment approach and taking advantage of compounding returns, they aim to maximize their investment growth and income generation and compounding.

The proper prioritization of saving and investing is also important for FIRE investors, as taking advantage of free money (via various employer matching programs) and tax-advantaged accounts are central doctrines not to be mismanaged.

Five steps of prioritizing investments with Fire investing

3.     Sustainable withdrawal rate

Once financial independence is achieved, maintaining it is just as important. Developing a sustainable withdrawal rate from your portfolio plays a crucial role in FIRE investing, serving as a guiding principle for supporting a desired lifestyle after retiring early. A general rule of thumb for how much you can sustainably take from your portfolio once retired is around 3-4% of your investment portfolio annually.

This rate is meant to strike a balance between meeting ongoing retirement and lifestyle expenses, while preserving the long-term viability of your investments. By adhering to a conservative withdrawal rate, FIRE investors aim to ensure that their funds last throughout their retirement years. This requires diligent monitoring of expenses, and the flexibility to allow for adjustments to the withdrawal rate as necessary, considering factors such as investment performance, inflation, and potential unforeseen expenses. By carefully managing their withdrawal rate, FIRE investors can confidently pursue their early retirement dreams while maintaining financial independence and the freedom to enjoy a fulfilling post-career life.

Fire Investing retirement portfolio success rate

4.     Lifestyle optimization / economic discipline

Also known simply as “living below your means,” lifestyle optimization is a pivotal aspect of FIRE investing, and focuses on the strict minimization of discretionary expenses. Personal fulfillment is defined quite differently by each of us, as accelerating your journey towards financial independence comes with the tradeoff of a frugal lifestyle and mindset. Making a long-term commitment to nurturing a sense of contentment and forgoing excessive consumerism may sound good in theory, but can be challenging in practice.

Fire Investing financial independence Bob Net Worth

While achieving financial independence early is the central goal of FIRE investing, the FIRE lifestyle is certainly not for everyone. Making the strict sacrifices needed to retire early can be quite difficult, as the lifestyle trade-offs of a reduced budget, downsized housing, and foregone luxury and comfort items are not palatable for many individuals. However, for those who have the fortitude and the discipline, FIRE investing can be rewarding and extremely empowering, as it is impossible to put a price tag on the peace associated with financial independence!

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Associate Wealth Advisor-Megan Miller Steve Pitchford

Our Associate Wealth Advisor, Megan Miller, EA, and Director of Tax and Financial Planning, Steve Pitchford, CPA, CFP®, worked hard together earlier this week collaborating on a client’s customized financial plan.

We are fortunate to have an on-staff CPA, CFP®, and EA, and both Steve and Megan have had a huge impact on the level and sophistication of the planning and wealth management work we regularly do with clients.

Our clients and our firm are lucky to have both of you, Steve and Megan!

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Crypto making a comeback!

Despite economic uncertainty and a regulatory crackdown on some crypto exchanges, bitcoin prices have nearly doubled since last December, and have risen ~ 20% just this week, with the price eclipsing $30,000 for the first time since mid-April.

Crypto Exchanges Bitcoin

At Towerpoint Wealth, we recognize that digital assets like bitcoin and Ethereum will continue to exhibit short-term volatility as a new asset class.

We also continue to believe that the entrance of major Wall Street institutions into the digital assets market indicates a significant shift in the financial landscape. In particular, Bitcoin’s acceptance as a mainstream asset class offers investors a diversification opportunity, while its unique properties position it as a potential digital gold.

Click below to watch a recent educational video we produced about digital assets and cryptocurrencies, and learn why we believe that crypto is here to stay, and not going away

Crypto Is Here To Stay Not Going Away

Click HERE to browse TPW’s library of other wealth-building and wealth-protecting educational videos.

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Organizing Your Financial Records

The More You Know About Taxes.

Many people struggle every time they open their mail or email. “Is this important? Do I need this? Should I keep it? Should I throw it away?”

When it comes to managing your financial records, it’s crucial to strike a balance between keeping necessary documents and disposing of those that are no longer needed. Certain financial records such as tax returns, W-2 forms, and supporting tax documentation should be retained for a specified period to comply with legal requirements and for personal reference.

It is advisable to shred any discarded documents that contain personal or sensitive information to protect against identity theft. Ultimately, maintaining an organized system for financial record-keeping ensures that you retain the necessary documents while minimizing clutter and unnecessary storage.

Click the image below or view our new Wealth Management Resources webpage, and download an excellent resource from MFS that should help you stay organized and purge with confidence! 

Organizing Your Financial Records

Have questions or concerns about filing your 2022 tax return?
We welcome connecting with you and are happy to help. Click the banner below to message Steve Pitchford, Steve Pitchford, Certified Financial Planner.

Steve Pitchford, CPA, CFP® Director of Tax and Certified Financial Planning

Chart of the week Sacramento Financial Advisor

Where are Americans moving to?

Internal migration within the United States has been a significant phenomenon that has shaped the country’s demographic and economic landscape. Often driven by factors such as job opportunities, politics, lifestyle preferences, cost of living, and family considerations, migration has been a constant feature of American society.

Individuals and families frequently relocate from one state to another in search of better employment prospects, improved living conditions, or a change in environment. For instance, people may move from rural areas to urban centers in search of employment in industries such as technology, finance, or entertainment, or from urban centers to rural areas due to a desire for a quieter and more peaceful lifestyle away from the hustle and bustle of urban areas, the allure of a closer connection to nature, more affordable housing, and the opportunity to enjoy outdoor activities such as gardening, hiking, or farming.

Surprisingly, while the pandemic did not disrupt the decline in the rate of people movingChartr’s graph below highlights the fact that those who do decide to pack up and switch states contribute to regional variations in population density, cultural diversity, and economic activity, as people gravitate toward areas that align with their aspirations and needs.

Chartr graph plots net migration and population growth

In light of how unsettled the economy and markets are, are you concerned or worried about

the bonds in your portfolio, and/or the overall level of risk you are taking in your portfolio? Message us to discuss your circumstances.

Trending Today Our Community

While the global 24/7 news cycle churns, twists, and turns, here are a number of fun, local trending events of note:


As always, we sincerely value our relationships and partnerships with each of you, as well as your trust and confidence in us here at Towerpoint Wealth. We encourage you to contact us at any time, or call or email us (916-405-9140info@towerpointwealth.com) with any questions, concerns, or needs you may have. The world continues to be an unsettled and complicated place, and we are here to help you properly plan for and make sense of it.

 Joseph EschlemanJonathanSteveLoriNathanMichelleLuis, and Megan

Sacramento Financial Advisor Towerpoint Wealth Team

We enjoy social media, and are actively growing our online community!

Follow us on any of these platforms, message us there and let us know your favorite charity.
We will happily donate $10 to it!

Click HERE to follow Towerpoint Wealth on LinkedIn
Click HERE to follow Towerpoint Wealth on Facebook
Click HERE to follow Towerpoint Wealth on Instagram
Click HERE to follow Towerpoint Wealth on Twitter
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Prognosticate at Your Own Peril! 06.09.2023

Predicting the future is an intriguing and complex endeavor that has captivated human imagination throughout history.

Prognosticate

And although the Simpsons have somehow consistently done it well, in real life it has also repeatedly been proven to be next to impossible to do. We strongly urge you to express humility about your ability, or anyone else’s, to accurately prognosticate.

“Nothing is sure tomorrow, nothing is sure next year, and nothing is ever sure, either in markets or in business forecasts, or in anything else.”

– Warren Buffett, at Berkshire Hathaway’s annual shareholder meeting, May 6, 2023

In the same vein, predicting the stock market is often regarded as a futile and risky endeavor, and there are several important reasons why relying on predictions can be extremely detrimental to investors. The stock market is a complex system influenced by numerous factors, including economic indicators, geopolitical events, and investor sentiment. Attempting to accurately forecast these variables is an incredibly challenging task, even for seasoned professionals. While there are many who prognosticate, the inherent uncertainty and volatility of each variable make it nearly impossible to consistently predict market movements with precision.

Kevin Kelly Prognosticate Quote

The reliance on predictions can also tempt investors who profess to be objective, and “longer-term,” to engage in speculative behavior, and can lead to irrational investment decisions. When individuals become fixated on trying to forecast the shorter-term movements of the market, they may overlook the longer-term fundamentals of a company or investment. This speculative mindset often results in impulsive buying or selling, driven by fear or greed, rather than by careful analysis of the underlying value of an investment. Such behavior can lead to market bubbles and crashes, as prices become detached from the true worth of the assets.

Additionally, the availability of prognostication in today’s 24/7 news cycle can create a false sense of security among investors. Some may rely heavily on what “the experts” have to say about the future, and to overvalue this forecasted information, and make investment decisions based on these predictions. However, predictions are inherently subjective, and are usually prone to biases. Even sophisticated predictive models are almost always flawed, as they are oftentimes built on historical data that may not accurately reflect unknown future market, political, and economic conditions. Listening to those who prognosticate, and blindly following predictions without considering other relevant factors, can expose investors to unnecessary risks and potential losses.

Prognosticate | Knowledge Predict

Here at Towerpoint Wealth, we believe that the inclination to predict the shorter-term future movements of the stock market undermines the core principles of longer-term wealth building, investing, and value creation. Successful investing is about being disciplined, having and objectively following a well-thought-out plan, and remaining objective during periods of market, economic, and political extremes. By focusing too much on predictions, investors may lose sight of the importance of patience, diversification, and confidence in a well-thought out financial and investment plan. We believe that those who remain committed to their investment thesis over time will be well-rewarded, as opposed to those who constantly chase and flip-flop based on short-term market fluctuations and well-articulated stories.

Relying on predictions to navigate the stock market is fraught with risks, oftentimes leading to poor investment decisions. The inherent complexity, uncertainty, and volatility of the market make accurate predictions a formidable challenge, at best. Furthermore, an overemphasis on predictions can promote speculative behavior, foster irrational decision-making, create false security, and detract from the fundamental principles of longer-term investing. Instead of fixating on predictions, investors are better off focusing on sound investment strategies, thorough research, and a disciplined approach to create value in their portfolios.

Prognosticate Quote

While the bashing of forecasting is easy, at Towerpoint Wealth we believe it remains necessary, as predicting the future easily sells in today’s media-driven culture. People are inherently drawn to “talking heads” who authoritatively prognosticate about what is going to happen in the market and the economy over the next day, week, quarter, or even year. Open any newspaper or turn on any financial news programming (and we use that term lightly), and it is easy to find an expert with a strong opinion about what lies around the corner.

Jim Cramer Economy

Rather than listening to these “experts” prognosticate, we encourage you to instead take your cues from the true masters of wealth building:

  • “We should be very cautious in what we expect of our prescience.”

– Howard Marks

  • “I figure that I want to swim as well as I can against the tides. I’m not trying to predict the tides.”

– Charlie Munger

  • “There is very little value added trying to predict where the market is going or guessing whether it’s overpriced or underpriced.”

– Bill Miller

And finally:

Quote attributed to John Bogle | John Bogle Stock Market Return Patterns

Click the Wealth Management Philosophy thumbnail image below to learn more about exactly how we help our clients save and invest for retirement while minimizing taxes.

Wealth Management Philosophy page on Towerpoint Wealth

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Foodie Adventures tour of San Francisco | Fiduciary Clients

While attending the annual Professional Fiduciary Association of California (PFAC) conference in San Francisco last week, our Partner, Wealth Advisor, Jonathan LaTurner, and our Associate Wealth Advisor, Megan Miller, hosted a number of our professional fiduciary clients on a Foodie Adventures walking food tour of North Beach and Chinatown in San Francisco.

In addition to two full days of fiduciary education (here is the conference agenda), it looks like Jonathan and Megan did an excellent job of mixing a little pleasure with business while in SF!

Click HERE to message us with any questions or concerns you may have about your retirement right now.

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Retiring with two million dollars.

Is $2 Million Enough to Retire? 5 Steps to Retiring with $2 Million

A 2020 survey from Schwab Retirement Plan Services found that the average worker expects to need roughly $1.9 million to retire comfortably. Is $2 million enough to retire? Is retiring with 2 million dollars a reasonable goal? There certainly are a myriad of moving parts involved in answering the question of whether retiring with $2 million is enough, and a number of things to consider.

Is $2 million enough to retire if you plan to live off interest alone? Is $2 million enough to retire if you plan to embark on expensive hobbies? Where you will live, and how? What will you need to cover health costs? These are just some of the financial complexities when you consider retirement.

Whatever the number you settle on as “enough,” click below to watch our latest educational video, and learn five specific steps you can take immediately to grow your net worth.

Click HERE to browse TPW’s library of other wealth-building and wealth-protecting educational videos.

Trending Today TPW Taxes

The MEGA Backdoor Roth 401(k)

The More You Know About Taxes.

How would you like to stash an extra $43,500 into a tax-free account?

The Mega Backdoor Roth 401(k) is a strategy that allows high-income earners to contribute significant amounts of after-tax money into their employer-sponsored retirement account, and then immediately convert those funds into a Roth 401(k). While traditional Roth IRA contributions are subject to earned income limits, the Mega Backdoor Roth 401(k) offers a way for individuals to surpass those limits and leverage the tax-free growth a Roth 401(k) provides. By utilizing this strategy, individuals can contribute significant sums of money beyond their standard 401(k) contribution limits, potentially turbocharging their retirement savings.

Here’s how the Mega Backdoor Roth 401(k) works: First, max out your regular contributions (either “traditional” pre-tax or Roth) to your 401(k) account – for 2023, the ceiling is $22,500 if you are under age 50, or $30,000 if you are over age 50.

Then, if your employer allows it, you make additional after-tax contributions, beyond the aforementioned annual contribution limits. For 2023, the total combined 401(k) contribution limit, including this Mega Backdoor Roth 401(k) strategy, is $66,000, or $73,500 for individuals 50 years old and older. Once these extra after-tax contributions are made, the funds can then be immediately converted into a designated Roth 401(k) account via an in-plan conversion. This in-plan conversion allows these “extra” contributions to grow tax-free, and qualified withdrawals from Roth 401(k) accounts in retirement are also tax-free. It is important to note that the Mega Backdoor Roth 401(k) strategy may not be available in all employer-sponsored retirement plans, so it’s crucial to check with your plan administrator to determine if this option is available to you.

We encourage you to contact us to discuss whether or not your 401(k) plan allows for Mega Backdoor Roth 401(k) contributions, and whether or not this strategy would be a worthwhile tool to utilize within your current wealth management plan.

Mega Backdoor Roth 401(k) Conversion: A loophole enabling high-income

Have questions or concerns about filing your 2022 tax return?
We welcome connecting with you and are happy to help. Click the banner below to message Steve Pitchford, Steve Pitchford, Certified Financial Planner.

Steve Pitchford, CPA, CFP® Director of Tax and Certified Financial Planning

Chart of the week Sacramento Financial Advisor

Bond INCOME Is Most Important!

The swift price declines in the bond market in 2022, caused primarily by aggressive increases in interest rates, were upsetting for some investors.

However, the longer-term performance of bond investments has come mostly from income return, not price return!

Put differently, bonds (and in particular, the income that they generate) are still a hugely important component of a properly-diversified portfolio, and higher interest rates can generally be *beneficial* for longer-term bond investors!

Bond Income Price Return and total return for U.S. aggregate bonds

We have found that bonds can generally be more confusing than stocks for a number of our clients. Are you curious and want to learn more? Click on the image below to download the five-page Vanguard report.

Vanguard | Why you shouldn’t abandon bonds

In light of how unsettled the economy and markets are, are you concerned or worried about

the bonds in your portfolio, and/or the overall level of risk you are taking in your portfolio?

Looking for a Sacramento Wealth Advisor to discuss your circumstances? Message us today.

Trending Today Our Community

While the global 24/7 news cycle churns, twists, and turns, here are a number of fun, local trending events of note:


As always, we sincerely value our relationships and partnerships with each of you, as well as your trust and confidence in us here at Towerpoint Wealth. We encourage you to contact us at any time, or call or email us (916-405-9140info@towerpointwealth.com) with any questions, concerns, or needs you may have. The world continues to be an unsettled and complicated place, and we are here to help you properly plan for and make sense of it.

 Joseph EschlemanJonathanSteveLoriNathanMichelleLuis, and Megan

Sacramento Financial Advisor Towerpoint Wealth Team

We enjoy social media, and are actively growing our online community!

Follow us on any of these platforms, message us there and let us know your favorite charity.
We will happily donate $10 to it!

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The GREED and FEAR Index – Greed Could Be Good? 05.26.2023

Michael Douglas won critical acclaim and the 1988 Academy Award for Best Actor in a Leading Role for playing him in Oliver Stone’s Wall Street. And whether you love or despise the notorious Gordon Gekko, the ambitious, manipulative, charismatic, and cold-blooded character became an icon in popular culture, representing the archetype of the ruthless and GREEDY corporate villain. 

Greed and fear  | Greed is good

Seeing how despicable he is, is it possible that Gekko on some level may actually be correct? We can confidently state that it sure doesn’t feel right, or virtuous, or moral, to say that greed is good, so how is is possible that it actually might be? 

“Of course, none of us are greedy. It’s only the other fellow who’s greedy. 😊 

Below is a thoughtful, provocative, and intellectual two minute conversation between the great economist, Milton Friedman, and the great American media personality, Phil Donahue, discussing the drawbacks and merits of greed. Donahue’s questions are excellent, and agree or disagree with Friedan’s perspective, the dialogue challenges the conventional viewpoint that greed is bad. 

Merits of greed

The clip has some excellent Friedman quotes: 

  • “Tell me, is there some society you know that doesn’t run on greed? Do you think Russia doesn’t run on greed? Do you think China doesn’t run on greed?”  
  • “The world runs on individuals pursuing their separate interests.” 
  • “In the only cases in which the masses have escaped from the kind of grinding poverty you’re talking about, the only cases in recorded history, are where they have had capitalism and largely free trade.” 
  • “Is it true that political self-interest is nobler somehow than economic self-interest?” 
  • “And just tell me: Where in the world do you find these angels who are going to organize society for us?” 
  • “There is no alternative way so far discovered of improving the lot of people than the productivity of free enterprise.” 

We believe that Friedman is a giant in the world of economics because he does not just work within theories in a vacuum sitting in some office, but instead directly accounts for human nature and behavior. Warren Buffett holds very similar views about human behavior and investor sentiment: 

Be Greedy when others are Fearful

Greed (and its counterpart, fear) is so widely recognized as an influencing factor in the financial and investment markets that CNN created an index for it: 

CNN’s Fear and Greed Index

Everybody has an incentive to maximize their lot in life. And certainly while unchecked greed can lead to unethical behavior and harm others, a certain level of ambition…greed…can be a powerful motivator for individuals to work harder, take risks, and push beyond their comfort zones. It fuels a desire for personal advancement and success, inspiring individuals to set ambitious goals and make determined efforts to achieve them. This drive and motivation can lead to personal growth, innovation, and the accomplishment of remarkable feats. 

Greed, when harnessed within the framework of a competitive market, can stimulate economic growth and foster innovation. Entrepreneurs driven by a desire for wealth and success often start businesses and develop new products, services, and technologies to satisfy market demand and to improve society as a whole. This entrepreneurial spirit can create job opportunities, drive technological advancements, and enhance overall productivity, benefiting society as a whole. 

 greed that makes us human

Fully recognizing the importance of striking a balance between ambition (dare we say greed), and ethical considerations, and that the pursuit of wealth aligns with integrity and social responsibility, at Towerpoint Wealth we also fully understand Gordon Gekko’s point, and work to recognize, capitalize on, and leverage how greed, as a natural human emotion, can oftentimes create opportunities for our clients as we help them develop and execute on a disciplined plan to build and protect their wealth

Greed/Buy at the peak and Fear/Sell at the trough

Click the Wealth Management Philosophy thumbnail image below to learn more about exactly how we help our clients save and invest for retirement while minimizing taxes.

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Big TPW news! 

Steve Pitchford wedding

Last weekend our Director of Tax and Financial Planning, Steve Pitchford, tied the knot to his beautiful fiancée, Katie. 

The couple had an exquisite wedding at Rancho Roble Vineyards, surrounded by friends, family, and of course the whole TPW family! 

Join us in wishing the newlyweds a very happy and prosperous life together! Congratulations Steve and Katie! 

Steve Pitchford weddingSteve Pitchford wedding

Thinking about getting married? Currently a newlywed? 

Click HERE to message us with any questions or concerns you may have
about your new financial circumstances. 

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Is crypto worth investing in?

The Truth about Crypto. Is Cryto Worth Investing In?

Did you see Joseph Eschleman, CIMA® on ABC10 last week??!! 

Lora Painter interviewed our President about “The Truth about Crypto” and how it can be considered as a potentially complementary part of a properly diversified investment portfolio.

Thanks for having us back ABC10 – we love informing viewers about money and spreading the “financial gospel.” Click the video above and learn more about crypto currency.

Click HERE to browse TPW’s library of other wealth-building and wealth-protecting educational videos.


One of our favorite wealth-building and wealth-protecting quotes of all time, from legendary investing great Peter Lynch.  

wealth-building and wealth-protecting quotes | Peter Lynch

Trending Today TPW Taxes

Health Savings Accounts taxes

Pooled Income Fund

A pooled income fund (PIF) is a type of charitable giving vehicle that allows donors to make contributions to a common fund, which is then invested by the fund manager. The income generated from the investments is distributed to the individual donor(s) based on their share of the fund. Pooled income funds are often established by nonprofit organizations, such as universities or foundations, to provide a structured and efficient way for individuals to support charitable causes, but are oftentimes established by “regular” retail investors as well. 

One of the key benefits of pooled income funds is the ability to receive income for life. When donors contribute to a pooled income fund, they typically receive a regular income stream from the fund’s investments for the remainder of their lives. This can be particularly advantageous for individuals who want to support charitable organizations while also ensuring a steady income during retirement. 

Additionally, donors may receive a charitable income tax deduction for their contributions to the pooled income fund, which can provide additional tax and economic benefits. 

Overall, pooled income funds offer a unique opportunity for individuals to combine their philanthropic goals with financial planning. By contributing to a common fund and receiving income for life, donors can make a lasting impact on charitable causes while also enjoying the financial security of regular lifetime income. 

We encourage you to click the image below to learn more, and to contact us to discuss whether considering a pooled income fund would be a worthwhile tool to utilize within your current wealth management plan. 

Have questions or concerns about filing your 2022 tax return?
We welcome connecting with you and are happy to help. Click the banner below to message Steve Pitchford, Steve Pitchford, Director of Tax and Financial Planning.

Steve Pitchford, CPA, CFP® Director of Tax and Certified Financial Planning
Chart of the week Sacramento Financial Advisor

The debt ceiling

While we remain confident that a debt ceiling deal will be reached, how (un)sustainable is the overall level of our borrowing as a country? 

US debt ceiling since 1970
rise of the US debt

Trending Today Our Community

While the global 24/7 news cycle churns, twists, and turns, here are a number of fun, local trending events of note


As always, we sincerely value our relationships and partnerships with each of you, as well as your trust and confidence in us here at Towerpoint Wealth. We encourage you to contact us at any time, or call or email us (916-405-9140info@towerpointwealth.com) with any questions, concerns, or needs you may have. The world continues to be an unsettled and complicated place, and we are here to help you properly plan for and make sense of it.

 Joseph EschlemanJonathanSteveLoriNathanMichelleLuis, and Megan

Sacramento Financial Advisor Towerpoint Wealth Team

We enjoy social media, and are actively growing our online community!

Follow us on any of these platforms, message us there and let us know your favorite charity.
We will happily donate $10 to it!

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The Debt Ceiling in America – Why it MATTERS! 05.03.2023

What’s the deal with the debt ceiling in America, and is it important for investors?

A dramatically accelerated timeline for lawmakers to negotiate was established on Monday, as Treasury Secretary Janet Yellen said that the debt ceiling in America could be reached as early as June 1 if President Biden and Congress do not come to an agreement to raise or suspend it. Put differently, the US could run out of money to pay its bills, and default on its debt, if this contentious political and economic issue is not solved soon. Here we go again… 

debt ceiling in america

We’ve been here before regarding the debt ceiling in America. Congress on the brink of another deadlock. Debate raging between Democrats and Republicans. Concerned citizens. Grandstanding politicians. Worried investors. And here at Towerpoint Wealth, while we feel the end result is obvious (the limit will be increased), there will be no shortage of brinksmanship as both parties do their song and dance, yet ultimately heed the advice Ms. Yellen offered in her May 1 letter to Congress

Janet L Yellen signature

The last time this issue came to the forefront was December of 2021, when Congress ended up increasing the debt ceiling in America to $31.38 trillion. 

is debt ceiling in America-December 2021 Congress

Since 1960, politicians have moved to raise, extend, or revise the definition of the debt ceiling in America 78 times – including three just in the last six months. The debt limit was first introduced in 1917, as a way to give the government flexibility to raise money during the First World War. In theory it gives Congress a way to check in on spending. But fights over the ceiling have become increasingly fractious, as political polarization increases and US debt has skyrocketed, roughly doubling in a decade. When the debt ceiling is reached, the government must either cut spending or raise taxes to reduce the deficit. This is often a difficult and unpopular choice, and it can lead to government shutdowns and economic instability. 

The debt ceiling in America has often been a source of political conflict – in 2011, for example, the debt ceiling debate led to a downgrade in the US credit rating and a period of economic uncertainty. One of the main arguments against raising the debt ceiling is that it encourages government spending and makes it easier for politicians to avoid making tough choices about budget cuts and tax increases. Some politicians argue that the debt ceiling should be lowered or eliminated altogether to force the government to live within its means. However, many economists and financial experts warn that defaulting on the national debt would have catastrophic consequences for the US and global economy, including a possible recession or depression. 

Overall, the debt ceiling crisis is a complex issue that requires a delicate balance between fiscal responsibility and economic stability. While the government must be held accountable for its spending, it is important to avoid defaulting on the national debt and to work towards a sustainable financial future for the country. 

What can YOU do as an investor as the debt ceiling in America becomes a more acute and pressing issue? Be disciplined, have a plan, remain objective, and keep two things in mind: 

is debt ceiling control the volatility of the markets

Click the Wealth Management Philosophy thumbnail image below to learn more about exactly how we help our clients save and invest for retirement while minimizing taxes.

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Luis  California Future Business Leaders of America FBLA

Last Friday, our Marketing Specialist, Luis Barrera, represented Towerpoint Wealth at the California Future Business Leaders of America (FBLA) state conference at the SAFE Credit Union Convention Center

Luis connected with high school students from all over the state, who were eager to learn about what a wealth management firm is all about, and how we help our clients properly coordinate all of their financial affairs. Thank you to FBLA for having us! 

Click HERE to message us with any questions or concerns you may have about your retirement right now.

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As seen on TV!

financial expert on ABC10-News

Our President, Joseph F. Eschleman, CIMA®, was the go-to financial expert on ABC10 News’ March 20 feature story. 

A guest on ABC10’s Dollars and Sense segment, Joseph explained the four different taxes people need to be aware of when they inherit money through an estate, revocable trust, or will: estate taxes, gift taxes, inheritance taxes, and income taxes. 

“Nine times out of 10, when you inherit money – be it from a friend, be it from a family member, doesn’t matter – the act of…inheriting it is not taxable to the beneficiary,” said Eschleman. 

There’s more, of course, to the story. Click on the video below to watch Joseph in the ABC10 video, or reach out to us here at Towerpoint Wealth to discuss any questions you have related to your estate planning, estate taxes, or income taxes. 

Click HERE to browse TPW’s library of other wealth-building and wealth-protecting educational videos.


One of our favorite wealth-building and wealth-protecting quotes of all time,
from legendary investing great Peter Lynch.  

Peter Lynch investors quote

Trending Today TPW Taxes

Health Savings Accounts taxes

Health Savings Accounts (HSAs) are tax-advantaged savings accounts that allow individuals who qualify for a high-deductible health plan (HDHP) to save and invest money for qualified medical expenses. One of the key benefits of an HSA is that contributions made to the account are tax-deductible, which can lower your taxable income and reduce the amount of taxes you owe. Additionally, any interest or investment earnings on the account are tax-free, which means you can grow your HSA without having to worry about paying taxes on the earnings. Furthermore, withdrawals from the account that are used for qualified medical expenses are also tax-free, which allows you to use your savings to pay for healthcare expenses without having to pay taxes on the money you withdraw. 

Another significant tax benefit of HSAs is that the account can be used as a long-term savings vehicle for retirement. Once you reach the age of 65, you can withdraw money from your HSA for any reason, not just medical expenses, without penalty. However, if you withdraw money for non-medical expenses, you will have to pay income tax on the amount withdrawn. Their overall tax treatment makes HSAs an attractive option for individuals who want to save money for healthcare expenses in the short-term, while also planning for their long-term retirement needs. 

tax benefit of HSAs

Have questions or concerns about filing your 2022 tax return?
We welcome connecting with you and are happy to help. Click the banner below to message Steve Pitchford, Steve Pitchford, Director of Tax and Financial Planning.

Steve Pitchford, CPA, CFP® Director of Tax and Certified Financial Planning
News You Can Use Trending Today

1.     TV’s Streaming Bubble Has Burst, a Writers Strike Looms, and “Everybody Is Freaking Out”

Vanity Fair – 5.1.2023

Writers Strike Looms

“People are just desperate,” says David H. Steinberg, a writer and showrunner. “I’ve been doing this for over 20 years, and I’ve never been in a situation where people are like, ‘Oh, no one’s buying anything right now.’ We just can’t sell.”

2.     The Glorious Return of a Humble Car Feature

Slate.com – 4.26.2023

Return of a Humble Car Feature

The touch screen pullback is the result of consumer backlash, not the enactment of overdue regulations or an awakening of corporate responsibility. Many drivers want buttons, not screens, and they’ve given carmakers an earful about it. Auto executives have long brushed aside safety concerns about their complex displays—and all signs suggest they would have happily kept doing so. But their customers are revolting, which has forced them to pay attention.

3.     With Playoff Knicks Hot, Madison Square Garden ‘Flooded with Requests From Celebrities’

NY Post – 5.3.2023

Knicks Hot Madison Square Garden

It’s once again the most coveted ticket in town.

On Tuesday night, Madison Square Garden’s Celebrity Row was overflowing with A-listers cheering on a hot Knicks squad, who defeated the Miami Heat in Game 2 of the Knicks second-round playoff series.

“The team has been flooded with requests from celebrities, with some saying they will fly in from out of town if they can get tickets,” a source close to MSG told The Post. “There’s way too many asks to address.”

Chart of the week Sacramento Financial Advisor

How long will it take until I double my money?

The Rule of 72 is a simple mathematical concept that helps individuals estimate how long it will take for their investments to double in value. To use the rule of 72, divide the number 72 by the annual rate of return (ROR) you expect to earn on your investment.

The result? An approximation of the number of years it will take for your investment to double in value. For example, if you expect to earn a 6% annual return on your investment, dividing 72 by 6 gives you 12 years. This means that it would take approximately 12 years for your investment to double in value at a 6% annual return. The rule of 72 is a helpful tool for investors to quickly estimate the potential growth of their investments and make informed financial decisions.

Rule of 72 is a simple mathematical

Trending Today Our Community

While the global 24/7 news cycle churns, twists, and turns, here are a number of fun, local trending events of note

·       May 2 – 7 – Pretty Woman: The Musical – SAFE Credit Union Performing Arts Center

·       May 6 – The Black Crowes – Thunder Valley Casino & Resort

·       May 9 – Sacramento Republic FC vs. Colorado Rapids – Heart Health Park

·       May 11 – ArtMix: Cookout – Crocker Art Museum

·       May 12 – Andrea Bocelli with the Sacramento Philharmonic and Chorus – Golden1 Center

·       May 12 – Movie Night in the Vines (Tom Cruise in Cocktail)– Bogle Winery

·       May 12 – Sarah Silverman – Thunder Valley Casino & Resort


As always, we sincerely value our relationships and partnerships with each of you, as well as your trust and confidence in us here at Towerpoint Wealth. We encourage you to contact us at any time, or call or email us (916-405-9140info@towerpointwealth.com) with any questions, concerns, or needs you may have. The world continues to be an unsettled and complicated place, and we are here to help you properly plan for and make sense of it.

 Joseph EschlemanJonathanSteveLoriNathanMichelleLuis, and Megan

Sacramento Financial Advisor Towerpoint Wealth Team

We enjoy social media, and are actively growing our online community!

Follow us on any of these platforms, message us there and let us know your favorite charity.
We will happily donate $10 to it!

Click HERE to follow TPW on LinkedIn
Click HERE to follow TPW on Facebook
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Click HERE to follow TPW on Twitter

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9 Tax Benefits of Real Estate Investing 04.21.2023

Most of us recognize that taking a diversified approach to investing is a sound philosophy. There are a myriad of different ways for investors to build and grow their net worth, each with its unique set of risks, rewards, tax consequences, and considerations. Traditionally, in addition to building a portfolio of stocks, bonds, and mutual funds, one of the best and most popular avenues to diversify your investments is to own and invest in real estate.

In addition to adding diversification, real estate investing can provide numerous benefits to investors, including the potential for long-term appreciation, debt paydown, inflation protection, and passive cash flow. 

And let’s not ignore the tax benefits of real estate investing. Investing in real estate does provide a unique advantage, as the tax benefits of real estate investing can oftentimes be superior to those of stocks, bonds, and mutual funds. To be clear, we believe that reducing your taxes should never be a primary goal when investing and building net worth; however, we also believe that it is hugely important to recognize that it’s not what you make, but what you keep that builds financial security. To ignore the significance of minimizing your obligation to Uncle Sam is a huge mistake. 

In America, there are two tax systems:

Additionally, the tax benefits of real estate investing are one its most appealing aspects. These tax benefits can significantly reduce an investor’s tax liability, and increase their net, after-tax return on investment. The tax benefits of real estate investing can range from deductions for expenses related to the property to the ability to do tax-free Section 1031 exchanges of properties and avoid capital gains. In this way, real estate investing can be a tax-efficient strategy for both building wealth and generating income.

strategies for real estate investing

Itemized below are nine strategies to maximize the tax benefits of real estate investing. These are elaborated upon in the presentation that our Associate Wealth Advisor, Megan Miller, and President, Joseph Eschleman, recently delivered to the West Sacramento Real Estate Investor Meet Up group.

Click the image to watch the full presentation, and reference the list of the most compelling tax benefits of real estate investing!

1.     Start a real estate business – it’s easy.

2.     Leverage business expense tax deductions and credits.

3.     Take advantage of Qualified Business Income (QBI).

4.     Make it a family business!

5.     Utilize the “Double Dip” on rentals.

6.     Move in! Leveraging the primary residence capital gain exclusion.

7.     Know and take advantage of cost segregation.

8.    Consider Section 1031 exchanges and Delaware Statutory Trusts (DSTs).

9.    Open and fund a tax advantaged retirement account.

While this list is by no means an exhaustive one, we believe it is clear that the tax benefits of real estate investing provide a myriad of opportunities to keep Uncle Sam at arm’s length while striving to maximize profits and compound the growth of your net worth. 

It is important for investors to consult with qualified tax and financial professionals to ensure they are taking advantage of all available tax strategies while staying compliant with relevant tax laws and regulations. The tax benefits of real estate investing  make it a lucrative and attractive investment and diversification option for individuals and businesses alike.

Click the Wealth Management Philosophy thumbnail image below to learn more about exactly how we help our clients save and invest for retirement while minimizing taxes.

Wealth Management Philosophy page on Towerpoint Wealth
Trending Today In Case You Missed It

What’s the fastest path to retiring with $2 million?

5 Steps to Retiring with $2 Million
5 Steps to Retiring with $2 Million

A 2020 survey from Schwab Retirement Plan Services found that the average worker expects to need roughly $1.9 million to retire comfortably. Are you almost there? Have a long way to go? Is retiring with 2 million dollars a reasonable goal for you?

Is this enough for you to be happy and comfortable? We’ve put together 5 steps you can take to increase the size of your nest egg and considerations for a well-thought out, customized, retirement income plan in this white paper. We’re happy to offer it to you here.

Click HERE to message us with any questions or concerns you may have about your retirement right now.

Trending Today Social Trending Moments

Click the images below to get caught up on some of our most recent trending moments at Towerpoint Wealth you might have missed!

Sacramento Wealth Management LinkedIn Real EstateSacramento Wealth Management Twitter Real EstateSacramento Wealth Management Instagram Real EstateSacramento Wealth Management Facebook Real Estate

YouTube Wealth Management

Are you really a long term investor? 

Or do you just say you are but behave more like a trader or a gambler, and fail to apply long term investment strategies to your portfolio?

In this video, our President, Joseph F. Eschleman, CIMA®, discusses exactly what it takes to truly behave like a long term investor, and what specific long term investing strategies and philosophies need to be developed and internalized to be a successful long term investor. Trying to successfully build, and protect, your wealth and “nest egg?” Watch this video to listen to Joseph outline seven key long term investing strategies and philosophies, as well as the exact emotional and behavioral characteristics needed to be a successful long-term investor.

Click HERE to browse TPW’s library of other wealth-building and wealth-protecting educational videos.


Sometimes, it’s just easier to keep it simple! Credit to Michael Kitces for the quote.

Sometimes, it’s just easier to keep it simple! Credit to Michael Kitces for the quote.

Do you agree with these rules?

Strategies for real estate investing Yes
Tax Benefits of Real Estate Investing Yes
Trending Today TPW Taxes

Gifting to UTMA accounts

An UTMA, or Uniform Transfers to Minors Act, is a legal arrangement that allows parents or guardians to transfer assets to their children. One of the main advantages of using an UTMA is the potential tax benefits. UTMA accounts are taxed at the child’s tax rate, which is typically lower than the parents’ tax rate. This means that investment gains and income generated by assets held in an UTMA account can be taxed at a lower rate, allowing for more tax-efficient growth. Additionally, the first $1,250 of unearned investment income generated by an UTMA account is tax-free, and the next $1,250 is taxed, but at the child’s usually lower tax rate.

Another tax benefit of an UTMA is the ability to shift assets out of a parent’s estate for estate tax purposes. By transferring assets to an UTMA, parents can remove those assets from their estate and potentially reduce their estate tax liability. In addition, the assets in an UTMA account are considered the child’s property, not the parent’s, which can be advantageous for financial aid purposes. Up to $17,000 can be transferred, per person, into an UTMA account without being subject to gift taxes. Overall, an UTMA can be a valuable tool for parents looking to minimize their tax liability while transferring assets to their children.

UTMA- Uniform Transfers to Minors Act.

Have questions or concerns about filing your 2022 tax return? We welcome connecting with you and are happy to help. Click the banner below to message Steve Pitchford, Steve Pitchford, Director of Tax and Financial Planning.

Steve Pitchford, CPA, CFP® Director of Tax and Certified Financial Planning
News You Can Use Trending Today

1.     The Robots Have Come for This Newsletter | Wall Street Journal – 4.13.2023

The Robots Have Come for This Newsletter

Okay…maybe the bots haven’t come for this newsletter just yet. But recent advances in artificial intelligence certainly have many of us scrambling to predict what’s next. For centuries, new waves of automation have been greeted by warnings of widespread job loss and disruption, and those predictions have proven to be wrong. But the revolutionary nature of ChatGPT begs us to consider the possibility that this time could be different.

According to some industry executives, it already is.

2.     Babe Ruth Bat Sells for Record $1.85M After ‘Photographic Corroboration’ | ESPN – 4.5.2023

Babe Ruth Bat Sells for Record $1.85M After ‘Photographic Corroboration’

Hunt Auctions has announced the private sale of a bat used by Babe Ruth circa 1920-21 for $1.85 million, a record price for a baseball bat. The previous record also belonged to a Ruth bat, one that sold privately for $1.68 million by Heritage Auctions last August.

According to Hunt Auctions, the new record holder is the “only known example to offer photographic corroboration.”

3.     Rupert Wins Again | Politico – 4.18.2023

Rupert Wins Again

If it seems fairly daft to congratulate Rupert Murdoch on settling the Dominion Voting Systems defamation case at a cost of $787.5 million, you probably need to be brought up to speed on how the tycoon excises malignancies when they threaten his core businesses.

For the media mogul, the massive Dominion settlement fee is just the cost of doing business.

Chart of the week Sacramento Financial Advisor

Buy High, Sell Low

A wonderful cartoon illustrating how emotions can trump objectivity during volatile periods in the economy and markets!

In light of how unsettled the economy and markets are, are you concerned or worried about the level of risk you are taking in your portfolio?

Message us to discuss your circumstances.

Trending Today Our Community

While the global 24/7 news cycle churns, twists, and turns, here are a number of fun, local trending events of note:

As always, we sincerely value our relationships and partnerships with each of you, as well as your trust and confidence in us here at Towerpoint Wealth. We encourage you to contact us at any time, or call or email us (916-405-9140info@towerpointwealth.com) with any questions, concerns, or needs you may have. The world continues to be an unsettled and complicated place, and we are here to help you properly plan for and make sense of it.

– Joseph EschlemanJonathanSteveLoriNathanMichelleLuis, and Megan

Sacramento Financial Advisor Towerpoint Wealth Team

We enjoy social media, and are actively growing our online community!

Follow us on any of these platforms, message us there and let us know your favorite charity.
We will happily donate $10 to it!

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A Bailout for Banks, Again? Well, Kind Of 3.24.2023

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Following the deep wounds created by the still-fresh memory of the Global Financial Crisis (GFC) of 2007-2008, many are wondering if another bailout for banks is as regulators attempt to stave off a banking crisis that has spread across global markets.

Bail out the people not the banks

This is leading people to rightly wonder: Has this created a moral hazard? Moral hazard is when you knowingly take a risk in the expectation that if it goes wrong, others will bear the consequences. While there are assuredly similarities, and depending on what your definition of a bailout for banks is, today’s banking crisis is much different than the circumstances that led to the GFC. One of the primary differences: depositors at Silicon Valley Bank, Silvergate Bank, and Signature Bank, rather than the three banks themselves, were rescued.

Bailout for banks | Moral Hazard

Amongst a continued whirlwind of debate and discourse about all of these issues, at Towerpoint Wealth we believe there are three central key points for discussion.

  • What FDIC insured means.
  • What constitutes a bailout?
  • Does what’s happening now constitute another bailout for banks?

Most agree that an emergency government rescue of the individuals and companies who held deposits at Silicon Valley Bank (SVB) and Signature Bank was needed, as many SVB and Signature clients held funds at the bank in excess of the $250,000 FDIC insurance maximum, and a total wipeout of these depositors’ funds would have almost assuredly led to contagion in the financial system and a massive run on banks throughout the country. That is, everyone would want to withdraw their cash at the same time.

what FDIC insured means

At Silvergate Bank, depositors did not need a government rescue, as the bank went through a voluntary liquidation, and the bank was able to sell its assets and investments and return all deposited money to its customers.

Let’s explore these three important points:

  • What FDIC insured means. 

It used to be a simple question with a simple answer. Per the FDIC’s website:

FDIC deposit insurance protects bank customers in the event that an FDIC-insured depository institution fails. Bank customers don’t need to purchase deposit insurance; it is automatic for any deposit account opened at an FDIC-insured bank. Deposits are insured up to at least $250,000 per depositor, per FDIC-insured bank.

However, over the past two weeks, the goalposts have changed regarding this $250,000 deposit insurance cap. Officials at the US Treasury are studying ways to guarantee all bank deposits, especially if these problems in the banking system create a domino effect.

  • What constitutes a bailout?

Quoting author and equities analyst Barry Ritholtz, a bailout is:

When an individual or company, through their own behavior and risk management, suffers a disastrous loss — but is then somehow made fully (or even partially) whole, and they do not have to suffer the impact of their own decision-making.”

Sounds very similar to moral hazard, doesn’t it?

The concept that you are responsible for the results of your own handiwork is so old, it’s biblical:

Galatians 6:7 | “Whatever a man sows"

The US government has facilitated bailouts for banks and other institutions for more than 200 years, beginning with the Panic of 1792, and more recently, with the Troubled Assets Relief Program (TARP) that authorized the US Treasury to purchase up to $700 billion of toxic assets from banks and other companies teetering on the brink of insolvency. Bank of America, Citigroup, Fannie Mae, Freddie Mac, Bear Stearns, and AIG received both direct and indirect Federal intervention and economic assistance. In other words, a bailout for banks. 

Bailouts for banks and other institutions are primarily criticized for a number of reasons: taxpayers can suffer losses, they may not work or take too long to be effective, they create moral hazard, they are perceived as political in nature, and they are rushed and may not work as intended.

Privatized gains and socialized losses anger virtually all of us, as that is not how capitalism is supposed to work. Is that what is happening today?

  • Does this constitute another bailout for banks?

Are Silicon Valley Bank and Signature Bank depositors getting all their money back through FDIC insurance, even if they had more than the guaranteed $250,000 in deposits, the same thing as a bailout for banks?

People are questioning what FDIC insured means primarily because while authorities don’t yet see full, limitless FDIC coverage as necessary, they are clearly worried that if another regional bank becomes insolvent, there will be a run on deposits. Without unlimited FDIC insurance, this would almost assuredly send significant additional capital (billions of dollars!) to the largest banks in the world, known as systemically important banks, or SIBs. In other words, away from small and mid-size banking institutions. 

As businessman and investor Kevin O’Leary said to Yahoo Finance earlier this week (emphasis added):

This was not a 2008 Lehman Brothers situation. These are just idiot bankers with an incompetent board. It’s that simple.

…we’re sitting in a horrible moral place today, where every single account in every single bank, regardless of who is running it, is guaranteed by the taxpayer. I’m not happy with the outcome. I can do anything I want as a bank manager, I can swing for the fences… but I can take inordinate risk to move that stock price (up), and never worry about what I do with the depositors’ money. Does that sound like a good idea to you?

While support for a motion to guarantee all bank deposits is growing, there is a strong chorus of those who are firmly against a universal Federal guarantee of all bank deposits. A two-day Reuters/Ipsos poll found 84% of respondents – including strong majorities of Republicans and Democrats – think taxpayers should not foot the bill when problems are caused by bank mismanagement.

Additionally, the government is already handing out money to banks in the form of a new lending program launched this month, the Bank Term Funding Program (BTFP), complementing the discount window, both of which allow banks to borrow money from the Fed to meet cash shortages and function as a safety valve to relieve pressure in the financial markets. 

U.S. banks have borrowed a combined $164.8 billion from these two backstop facilities, which has eclipsed the money that was borrowed during the 2008/2009 financial crisis.

Line graph from Bloomberg

The effects of this bank borrowing will be wide-ranging, including real estate loans, corporate loans, personal loans, mortgages, credit card interest rates, the U.S. Prime Rate, and every other type of lending that you can consider.

Does all of this constitute a bailout for banks, or is it simply essential support for our US banking system? Send us a note and let us know what you think!

Click the thumbnail image below if you are interested in learning more about the details of what happened at Silicon Valley Bank.

The Swift Collapse of Silicon Valley Bank,

What’s Next?

Investors, depositors, and market participants are all hopeful that the game of “whack-a-mole” but with a similar feel, will end soon. Considerations about the overall health of the economy persist. While moves by Treasury Secretary Janet Yellen and Fed Chair Jerome Powell will hopefully limit contagion in the banking industry, economic activity will almost certainly be slowed by tightening standards and greater scrutiny and regulation of lenders, and rising interest rates from the Fed firmly tip the odds in favor of a recession. 

For now, it seems as though consumers are comfortable with the current state of things; at least people aren’t searching Google to find information on bank withdrawals today as often as they were just a week ago.’

Google searches related to bank withdrawals

Secretary Yellen has also promised to intervene and provide further support for banks if needed, helping consumer fear abate further.

Veteran banking analyst Dick Bove said “…if you go back in history, you know that time before the Federal Reserve was formed, that’s what was done to preserve stability in the banking industry.”

He also said that he believes the banking crisis is finished. At Towerpoint Wealth, we believe the more important question is – do you?

Crises will always be a part of life and will always occur, and this latest one is by no means a reason to hit the panic button. Prudent and successful longer-term investors will recognize this period as simply another entry on their wealth-building and wealth-protecting resume (earning another investment “stripe,” if you will), and just another part of our schizophrenic business cycle.

“This too shall pass” is a quote attributed to both King Solomon and Abraham Lincoln, and an excellent reminder to be humble during good times and resolute during periods of uncertainty and fear. Markets will go up, and they will go down, all of which is out of our control – what matters is how you respond to these challenges (read: opportunities), which just so happens to be in our control. We will persevere as we always do, as we remind our Towerpoint Wealth clients and friends that having a disciplined investment approach and a properly-diversified portfolio will always remain essential, independent of our external environment.


Click the Wealth Management Philosophy thumbnail image below to learn more about exactly how we help our clients save and invest for retirement while minimizing taxes.

Wealth Management Philosophy page on Towerpoint Wealth
wealth management sacramento towerpoint wealth save the date

Real estate investor 9 Tax Strategies Real estate Investors wish

Are you a real estate investor?

Would you like to learn how to reduce and minimize the income taxes you pay on your real estate portfolio?

Please join us on March 28 at the Kick’n Mule, as our Associate Wealth Advisor, Megan Miller and Joseph Eschleman, as they join The West Sacramento Real Estate Investor Meetup group to talk about how to better manage the tax liability of your real estate investing! 

The event is free to attend. Click the thumbnail image below to learn more about the upcoming event!

Click HERE to message Megan with any real estate-specific questions or concerns you may have right now

Trending Today Social Trending Moments

Here are some of our top trending moments at Towerpoint you might have missed on our social platforms.

Click the images below!

Sacramento Wealth Management LinkedIn 2023Sacramento Wealth Management Twitter 2023Sacramento Wealth Management Instagram 2023Sacramento Wealth Management Facebook 2023

What else is happening with the Towerpoint Wealth family?

YouTube Wealth Management

Will my investments and assets at Schwab be OK?

Will my investments and assets at Schwab be OK?

Recent news about three large regional bank failures – Silicon Valley Bank, Signature Bank, and Silvergate Bank – has been concerning and unsettling to say the least. Here at Towerpoint Wealth, we have recently had a few clients ask us about how the fallout may affect our primary custodian that we have partnered with to hold and custody our client assets – Charles Schwab.

While no financial institution has completely escaped the consequences of this crisis, we are confident that Schwab is fundamentally different in many ways from those banks in the news. Our confidence in Schwab is underpinned by Schwab’s:

  • Conservative balance sheet.
  • Strong liquidity position.
  • Diversified base of more than 34 million account holders.

Click the thumbnail below to watch a recent CNBC interview of Walt Bettinger, Charles Schwab’s CEO, as he discusses these recent events, and why he (and we) believe that Schwab remains a safe port during this temporary storm

Towerpoint Wealth, LLC New Podcast 2023

Towerpoint Wealth, LLC New Podcast

Trending Today TPW Taxes

single family home, titled The Augusta Rule

The August Rule

Is this the IRS rule that feels too good to be true?

The “Augusta Rule” is the nickname for Section 280A(g) of the IRS tax code. It allows business owners to rent their personal residence to their business for up to 14 days per year, making the rental income tax-free and allowing the business to write off the expense.

To benefit from the Section 280A deduction, schedule legitimate business meetings at your home, ensuring they do not exceed 14 days and are not for entertainment purposes.

Be sure to charge fair market rent, document the meetings by taking corporate minutes, and submit them to the IRS to protect the deduction!


Are you searching “certified financial planner near me”? You’ve found Sacramento wealth advisor Steve Pitchford, CPA, CFP® and the Towerpoint Wealth Sacramento financial advisor team.

We serve clients primarily in the Northern California region. Glad you’re here! Please contact us with any questions you have about our wealth management services.

Steve Pitchford, CPA, CFP® Director of Tax and Certified Financial Planning
News You Can Use Trending Today

Useful and interesting content we’ve read over the past two weeks:

California Lawmakers Call For an Audit of Spending on Homelessness

California Lawmakers Call For an Audit of Spending on Homelessness

KCRA3 – 3.21.2023

The state spends billions of dollars each year trying to address the homeless crisis, but is it working? There is a new bipartisan effort among California lawmakers to try to find out.

The Incredible Tantrum Venture Capitalists Threw Over Silicon Valley Bank

The Incredible Tantrum Venture Capitalists Threw Over Silicon Valley Bank

Slate – 3.13.2023

If the technological innovation coming out of Silicon Valley is as important as venture capitalists insist, the past few days suggest they haven’t been very responsible stewards of it.

The collapse of Silicon Valley Bank may have resulted from a perfect storm of ugly events. But it was also emblematic of a startup ecosystem and venture-capital apparatus that are too unstable, too risky, and too unmoored from reality to be left in charge of something as important as the direction of our technological development

The Biggest Lie the Rich Ever Told? That Money Can’t Buy You Happiness

The Biggest Lie the Rich Ever Told? That Money Can’t Buy You Happiness

The Guardian – 3.14.2023

News just in: Money does buy you happiness. Duh, you might say. Anyone could have told you that; it’s hardly a Nobel-prize winning insight. Well, actually, it kinda is: In 2010, Daniel Kahneman, a Nobel prize-winning economist and psychologist, came out with the theory that there was a monetary “happiness plateau”. Once you hit an annual household income of $75,000, earning more money didn’t make you any happier. 

In 2021, the happiness researcher Matthew Killingsworth released a dissenting study, showing that happiness increased with income and there wasn’t evidence of a plateau. Now the pair have teamed up in a process known as “adversarial collaboration” and released a new study finding that they were both sort of right, but Killingsworth was more right: for most people, earning more money makes you happier.

Chart of the week Sacramento Financial Advisor

biggest bank failures in US History

Since the 1970s, over 90 banks in the United States with $1 billion or more in assets have failed.

The Yahoo Finance list below is based on assets at the time of failure of banks insured by the FDIC.

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Muhammad Ali Small Men Quote


If you speak with someone who is concerned or unsettled about their investments or advisor, we welcome talking with them.

Click here to Introduce Us

Trending Today Our Community

While the global 24/7 news cycle churns, twists, and turns, here are a number of fun, local trending events of note:

  • March 24 – Folsom Wine & Jazz – Zittel Family Amphitheater
  • March 25 – Utah Jazz vs. Sacramento Kings – Golden1 Center
  • March 25 – DOCO Makers Market – Downtown Commons
  • March 30 – National Geographic Live!: Secrets of the Whales – Harris Center
  • April 1 – Hops and Props – Aerospace Museum of California
  • April 1 – SacTown Funk: Battle of the Bands – Ace of Spades

As always, we sincerely value our relationships and partnerships with each of you, as well as your trust and confidence in us here at Towerpoint Wealth. We encourage you to reach out to us at any time (916-405-9140, info@towerpointwealth.com) with any questions, concerns, or needs you may have. The world continues to be an unsettled and complicated place, and we are here to help you properly plan for and make sense of it. 

Joseph Eschleman, Jonathan, Steve, Lori, Nathan, Michelle, Luis, and Megan

Thank You For Trusting Us Towerpoint Wealth Team 2023


We enjoy social media, and are actively growing our online community!

Follow us on any of these platforms, message us there and let us know your favorite charity.
We will happily donate $10 to it!

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Investing Like The Best – Warren Buffett! 03.10.2023

Investing like the best is oftentimes simple, but not necessarily easy. It’s important to be prudent and disciplined, and one way to do this is to try to understand and embrace the mindset, outlook, wealth-building, and wealth-protecting philosophies of Warren Buffett.

As the Chairman of the Board for Berkshire Hathaway (NYSE: BRK), Buffett pens his Chairman’s Letter every year, highlighting BRK’s annual shareholder report. As has been the case since 1965, Berkshire’s 2022 annual report was released late last month, and scrutinizing Buffett’s Chairman’s Letter found within it continues to be a tradition for investors around the world. Considered a must-read, Buffett’s message this year was particularly anticipated, given today’s extremely unsettled and ever-changing economic and investing landscape.

Investing Like The Best

While many believe that adhering to Buffett’s philosophies and principles is akin to investing like the best, the 92-year-old has certainly not been immune to criticism. Considered too conservative, too suspicious of technological advances, and too out of touch with modern markets, Buffett has his share of detractors, but his performance track record since taking over management and control of Berkshire Hathaway in 1965 is undeniable.

The stock market, as measured by the S&P 500, has grown +9.9% annually from 1965-2022. Berkshire Hathaway’s growth over the same time period? +19.8%.

Annual Percentage Change Berkshire vs S&P Dividends

Given this penchant for outperformance, it should come as no surprise that Buffett’s views and thinking are important to those who are interested in investing like the best. Key snippets from Buffett’s most recent letter, evincing his directness, common sense, and wisdom, are articulated below.

  • The weeds wither away in significance as the flowers bloom.

    Let your winners run – as your winning investments become bigger, the losers become less significant.
  • It is crucial to understand that stocks often trade at truly foolish prices, both high and low.

    Human beings, and investors, are emotional by nature. They oftentimes do the opposite of what they should, like buying high and selling low, which can drive stock prices artificially higher or lower.
  • We are understanding about business mistakes; our tolerance for personal misconduct is zero.

    Investing like the best doesn’t mean you won’t make occasional business mistakes, those are expected. However, bad behavior is not tolerated.
  • ‘Bold imaginative accounting,’ as a CEO once described his deception to me, has become one of the shames of capitalism.

    Buffett is skeptical of how CEOs use accounting gimmicks to help their companies achieve their short-term earnings goals. He also holds disdain for Wall Street analysts’ who provide quarterly earnings forecasts, as the threat of having to report “worse-than-expected earnings” can incentivize bad behavior.

Additionally, and especially telling in light of the new 1% excise tax on repurchases of corporate stock that was enacted last summer as part of the Inflation Reduction Act of 2022 (“IRA”), were Buffett’s comments on BRK company stock repurchases:

Repurchases Shareholders Beneficial

Share buybacks have become a popular strategy for companies who have cash and no other intelligent way to deploy it. In lay terms, buying back their own stock on the open market helps to boost demand and increase the stock price. Also, buybacks help to improve key metrics like earnings per share (EPS), helping the stock to be more attractive to prospective investors. This is good for CEOs, and also helps to maximize value for shareholders.

January Buyback Authorizations : 2005 to Today

At Towerpoint Wealth it seems evident to us that investing like the best and utilizing an approach like Warren Buffet’s requires patience, discipline, and a longer-term perspective. With those thoughts in mind, we encourage each of our clients, friends, and colleagues to strongly consider one of Buffett’s closing quotes in his 2022 Chairman’s Letter.

investing like the best long term bet

Click the Wealth Management Philosophy thumbnail image below to learn more about exactly how we help our clients save and invest for retirement while minimizing taxes.

Wealth Management Philosophy page on Towerpoint Wealth
Trending Today In Case You Missed It

Thompson baby Towerpoint Wealth Team

We would like to congratulate our Partner, Wealth Advisor, Jonathan LaTurner, and his wife Katie McDonald, PHR, on the birth of their first child, Thompson William LaTurner, on 2/15/23!

Welcome to the Towerpoint Wealth family, Thompson – we can’t wait to meet you!

Trending Today Social Trending Moments

Here are some of our top trending moments at Towerpoint you might have missed on our social platforms.

Click the images below!

Sacramento Wealth Management LinkedIn 2023Sacramento Wealth Management Twitter 2023Sacramento Wealth Management Instagram 2023Sacramento Wealth Management Facebook 2023

What else is happening with the Towerpoint Wealth family?

YouTube Wealth Management

The markets, politics, and economy are uncontrollable and unpredictable. However, income taxes and investing costs, while unpleasant, are unfortunately omnipresent. As you work to build and protect your net worth, investment expenses are unavoidable, and owning investments inevitably means you will be subject to paying income taxes as well.

The bad news? These two “necessary evils” are inevitable along your journey to growing and protecting your net worth. The good news? With intelligent and proactive planning, we DO have some control over reducing and minimizing both!

Click the Minimizing the Necessary Evils of Building Net Worth thumbnail below to learn more about specific strategies to reduce the drag on your nest egg and investment portfolio, allowing you to efficiently build and protect your wealth and net worth.

Click HERE to watch TPW’s other wealth-building and wealth-protecting educational videos.

Towerpoint Wealth, LLC New Podcast 2023

Towerpoint Wealth, LLC New Podcast

Trending Today TPW Taxes

2023 tax season kicks off

The More You Know About TAXES

As the 2023 tax season kicks into high gear, we would like to give you a few tips, debunk some myths, and get you some high-quality tax minimization strategies!

Click below to watch the first installment (focusing on tax withholding) of The More You Know About TAXES, a short yet impactful video series we have produced and designed to help make your tax season less stressful and hopefully save you some money!


Have questions or concerns about filing your 2022 tax return? 
We welcome connecting with you and are happy to help! 
Click below to begin a dialogue with Steve Pitchford, Director of Tax and Financial Planning.

Steve Pitchford, CPA, CFP® Director of Tax and Certified Financial Planning
News You Can Use Trending Today

Useful and interesting content we’ve read over the past two weeks:

World’s Largest Four-Day Work Week Trial Finds Few Are Going Back
Bloomberg – 2.28.2023

World’s Largest Four Day Work

The largest-ever trial of the four-day work week found that most UK companies participating are not returning to the five-day standard, and a third are ready to make that change permanent.

The study involved 61 organizations and about 2,900 workers who voluntarily adopted truncated work weeks from June to December 2022. Only three organizations decided to the pause the experiment, and two are still considering shorter hours, data released Tuesday showed. The rest were convinced by revenue gains, drops in turnover and lower levels of worker burnout that four is the new five when it comes to work days.


Biden Bucks Liberals and Tells Democrats to Get Tough on Crime
NBC News – 3.4.2023

Biden Bucks Liberals and Tells Democrats

President Joe Biden’s decision last week on a local crime law sends a national message to fellow Democrats about how he believes they should address Republican criticism of the nation’s rising crime rates.

Democrats have focused predominantly on police reform since the George Floyd protests reignited a national debate over race and law enforcement three years ago. But rising violent crime rates and growing perceptions of unease in major cities have prompted a chorus of party strategists and officials to call for a tougher approach to counter Republican attacks.


Effort to Ban Stock Trading Among Executive Branch Officials Renewed
The Wall Street Journal – 3.5.2023

Ban Stock Trading Among- Executive Branch Officials

Sen. Josh Hawley (R., Mo.) is expected to introduce legislation Monday that would ban senior executive branch officials from owning or trading individual stocks, a push to toughen restrictions on conflicts of interest in the federal government.

Mr. Hawley’s bill is the latest fallout from a Wall Street Journal series that identified a sweeping pattern of financial conflicts across the executive branch, including finding that more than 2,600 officials invested in companies overseen by their agencies.

Chart of the week Sacramento Financial Advisor

Click the image below to download our 2023 Tax Reference Guide, which serves as a de facto tax “cheat sheet,” designed to help you take advantage of the many tax deductions and opportunities there are to help you shave money off of your tax bill!

2023 Tax Reference Guide Download
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If you speak with someone who is concerned or unsettled about their investments or advisor, we welcome talking with them.

Click here to Introduce Us


Trending Today Our Community

While the global 24/7 news cycle churns, twists, and turns, here are a number of fun, local trending events of note:

  • March 11 – Shamrock’n 5K, 10K, Half Marathon & Leprechaun Dash – Sutter Health Park
  • March 13 – Milwaukee Bucks vs. Sacramento Kings – Golden1 Center
  • March 14 – Carrie Underwood – Golden1 Center
  • March 16, 18 – NCAA Division 1 Men’s NCAA Basketball Tournament – Golden1 Center
  • March 18 – St. Patrick’s Day Parade and Festival – Old Sacramento
  • March 23 – Depeche Mode – Golden1 Center

As always, we sincerely value our relationships and partnerships with each of you, as well as your trust and confidence in us here at Towerpoint Wealth. We encourage you to reach out to us at any time (916-405-9140, info@towerpointwealth.com) with any questions, concerns, or needs you may have. The world continues to be an unsettled and complicated place, and we are here to help you properly plan for and make sense of it. 

Joseph Eschleman, Jonathan, Steve, Lori, Nathan, Michelle, Luis, and Megan

Thank You For Trusting Us Towerpoint Wealth Team 2023

We enjoy social media, and are actively growing our online community!

Follow us on any of these platforms, message us there and let us know your favorite charity.
We will happily donate $10 to it!

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LIGHT THE BEAM: The Economic State of Downtown Sacramento 02.24.2023

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If you’ve been to a Sacramento Kings home game this year at the Golden1 Center in downtown Sacramento during a game where the team emerges victorious, then you’ve certainly heard (and perhaps participated in) the new spirited and energetic crowd chant: “LIGHT THE BEAM! LIGHT THE BEAM!”

Kings arena and Downtown Sacramento Commons | Economy of Sacramento

Anointed as the “Beam Team” earlier this year, the Kings franchise is clearly on the upswing, trending strongly towards ending their league-long 16-year playoff drought and looking to land a spot in the NBA playoffs for the first time since 2006. Head coach Mike Brown and GM Monte McNair have assembled a very competitive squad that is seeing this playoff goal become more and more attainable with every win the Beam Team achieves, as the Kings have assembled a diverse squad of both veteran leadership and youthful energy and talent.

Kings Arena Downtown Sacramento

As the Beam (yes, we’ve decided to capitalize it) has become a point of pride and unity for our Sacramento community, it also is a metaphor for the state of downtown Sacramento in 2023. As Mayor Darrell Steinberg said at Tuesday’s twenty-sixth annual State of Downtown Sacramento speech:

The Kings rise and the shining of the beam is not a matter of dumb luck.  And the truth is that the Kings rise was not a miracle brought on by a purple light, it was the result of careful planning, preparation, leadership, talent, and heart. Just like the downtown partnership and the people who have seen our downtown through its great rise, its most difficult times, and now get to be part of its inspiring comeback.

We’ve made a lot of progress: After ranking as the fifth most miserable city in America in 2012 according to Forbes, Sacramento in 2022 was ranked as NUMBER ONE California city to live in – what a turnaround!

Kings Arena Economy of Sacramento

The same trajectory is projected for the economy of Sacramento. Our Associate Wealth Advisor, Megan Miller, was one of almost 1,000 attendees at the State of Downtown Sacramento forum on Tuesday, held at the new SAFE Credit Union Convention Center, and afterwards she confirmed our opinion here at Towerpoint Wealth about downtown Sacramento: While we face big challenges, we are also firmly back “on the upswing” just like the Kings, and look forward to the continued unlocking of economic growth and expansion (and great food and entertainment!) that downtown Sacramento offers!

State Of Downtown Sacramento Economy of Sacramento

Understanding there are a myriad of different themes, topics, challenges, successes, and issues when it comes to the economy of Sacramento, below you will find a brief executive summary of the many positive catalysts creating Downtown Sacramento’s economic momentum and growth:

  • This really cool list of current downtown development projects is growing quickly!
  • Sacramento is growing its identity as a city of festivals:
    • 44,000 people stayed overnight in Sacramento, and more than 160,000 people attended the West Coast’s Biggest Rock Festival, Aftershock, in 2022, with an estimated economic impact of $30 million
    • Sacramento’s new country music festival, Golden Sky, drew 50,000 attendees last year, with an estimated economic impact of $12 million
    • The Sol Blume R&B festival drew 40,000 people to Discovery Park in 2022, with an estimated economic impact of $10 million
  • The Sacramento Midtown Association is bringing back our beloved Second Saturday Art Walk beginning this May – hooray!
  • Sacramento’s hotel occupancy is at 99% of pre-pandemic levels.
    • 684 new hotel rooms have been added over the past few years, including 179 at the new AC Marriott at 7th & I Street.
    • Mayor Steinberg wants to add another 800 rooms in the next five years (perhaps the NBA All-Star Game will finally land here in Sacramento!).
  • 1,089 new housing units have been built in the central city over the past four years
    • 3,000 more units are currently under construction
    • The NE corner of 10th and J Street, which has sat blighted for the past 15 years, was just sold to a housing developer planning to build 250 units
    • The State of CA has made three state office buildings on Capitol Mall available for conversion to housing, with the prospect of a mixed-use urban village and up to 1,000 housing units looking more like a reality.
  • Measure N was approved in November, allowing for an expanded use of “hotel tax” revenue to be used for economic development projects to create local jobs, visitor-serving facilities that promote tourism, economic development, and other activities that bolster the local economy, and theatre and arts venues.
  • Revitalizing Old Sacramento and the Sacramento River waterfront are garnering more attention and capital
    • A near $30 million waterfront makeover is back in the works, aimed at opening up the public market buildings with glass sides, creating a two-story platform and walking bridge to the embarcadero, and installing a new children’s play area in waterfront park
    • CA State Parks is seeking input on design guidelines for a new 250 room hotel in Old Sac.
  • SKK Development has asked the city for a loan to open a new Whole Foods midtown location at 16th and J Street, at the former Lucca Restaurant space, with 198 units of housing above it

This list is a lengthy and an exciting one, and by no means is it exhaustive or static. Here at Towerpoint Wealth, we expect that it will continue to evolve as our city does. The economy of Sacramento is on a roll, and we expect it to continue to grow and expand as the dynamism of downtown Sacramento follows suit!

Want to know more about the state of the economy of Sacramento and of downtown Sacramento overall? Check out the highlight video and the full 2022 Annual Report found below!

The Downtown Sacramento Partnership Annual Report measures the progress of Downtown Sacramento Partnership key programs and tracks the state of office, residential and retail market development activity in the urban core.

Guide to your Schwab Tax forms 2022 Tax Year 1099 Dashboard

Click the Wealth Management Philosophy thumbnail image below to learn more about exactly how we help our clients save and invest for retirement while minimizing taxes.

Wealth Management Philosophy page on Towerpoint Wealth
wealth management sacramento towerpoint wealth save the date

Save the Date Towerpoint Wealth Social Mixer

The disruption. The grind. The time. The energy. The chaos!

Sometimes it feels like it takes more brains and effort to complete your taxes than it does to earn the income!

Are you a CPA, an EA, an attorney, a real estate advisor, or industry professional who serves clients and their income tax needs? If so, mark your calendar for May 4, as we look forward to celebrating the end of tax season with you at our first annual spring industry mixer, held at Revolution Winery & Kitchen!

Trending Today Social Trending Moments

Here are some of our top trending moments at Towerpoint you might have missed on our social platforms.

Click the images below!

Sacramento Financial Advisor Firm LinkedIn Feb 2023Sacramento Financial Advisor Firm Twitter Feb 2023Sacramento Financial Advisor Firm Facebook Feb 2023Sacramento Financial Advisor Firm Instagram Feb 2023

What else is happening with the Towerpoint Wealth family?

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Today marks the one year anniversary of Russia invading Ukraine. The brutality and inhumanity that have defined the Russian campaign continues to be revolting and disgusting, reconciliation and a cease-fire seems obscure at best, and it remains extremely difficult to accurately predict and assess the political and economic implications that are still developing.

Many questions remain, with two at the forefront of our mind: Is peace a tangible possibility, and will justice ever be served? Additionally, what do peace, and justice, actually look like? Regardless of what these answers may be, securing peace and finding some kind of justice not only will teach Russia a lesson, but also to warn those in the future who might be tempted to make war crimes part of their military strategy. All of us at Towerpoint Wealth, while pragmatic about the situation, also hold out hope and faith that this conflict…this war…ends sooner rather than later.

We also believe that the unique economic issues and financial and investment themes and ideals that this war has created need to be addressed, and much of what we discussed in our initial March, 2022 message to you, our clients, still rings true today, and we encourage you to click the image below to watch what our President, Joseph Eschleman, originally had to say.

Towerpoint Wealth, LLC New Podcast 2023

Towerpoint Wealth, LLC New Podcast

Trending Today TPW Taxes

2023 tax season kicks off

A Schedule D form is what most people use to report capital gains and losses that result from the sale of capital assets, including property you own and use for personal or investment purposes.

The capital assets you are most likely to report on Schedule D are the stocks, bonds, and real estate you sell in a particular tax year.

These gains and losses are categorized as either short-term (the asset was held for less than 12 months) or long-term (held 12 months or more).

Please reference Page 36 of the below 2022 Tax Form Guide from Charles Schwab for additional information on how to complete your Schedule D (and Form 8949, if necessary).

Cover of A Guide to your Schwab Tax forms for the 2022 Tax Year

Additionally, and as mentioned two weeks ago, Schwab’s Tax Resources page has a plethora of useful information to help you make tax time a little smoother, plus important tax law changes that may affect your investment and tax planning decisions.


Have questions or concerns about filing your 2022 tax return? 
We welcome connecting with you and are happy to help! 
Click below to begin a dialogue with Steve Pitchford, Director of Tax and Financial Planning.

Steve Pitchford, CPA, CFP® Director of Tax and Certified Financial Planning
News You Can Use Trending Today

Useful and interesting content we’ve read over the past two weeks:

The Country is Watching’: California Homeless Crisis Looms as Gov. Newsom Eyes Political Future

‘The Country is Watching’: California Homeless Crisis Looms as Gov. Newsom Eyes Political Future

KHN – 2.9.2023

Driving through the industrial outskirts of Sacramento, a stretch of warehouses, wholesale suppliers, truck centers, and auto repair shops northeast of downtown, it’s hard to square California’s $18 billion investment in homeless services with the roadside misery.

Tents and tarps, run-down RVs, and rusted boats repurposed as shelter line one side of the main thoroughfare. More tents and plywood lean-tos hug the freeway underpasses that crisscross Roseville Road, and spill into the nearby neighborhoods and creek beds.

Boomer Dads Are Driving Real Estate Agents Nuts!

Boomer Dads Are Driving Real Estate Agents Nuts!

Curbed – 2.10.2023

Last spring at a townhouse showing in Bedford-Stuyvesant, the agent David Harris watched his client, a married millennial with a kid, bounce from room to room before taking a seat on a staged sofa — a gesture Harris had come to regard as a cue that a client feels at home and is about to make an offer.

He was right. His client liked the place. Harris suggested they go $50,000 over asking, or $1.7 million; he anticipated a bidding war. His client agreed. But first, the client had to make one phone call. Harris watched as he went outside and started pacing. “And then he takes the cigarette out,” Harris said. “It was his father.”

‘Lake Tahoe Has a People Problem’: How a Resort Town Became Unlivable

‘Lake Tahoe Has a People Problem’: How a Resort Town Became Unlivable

The Guardian – 2.12.2023 

Late last year, Lake Tahoe earned a spot on an exclusive travel guide. But the mountain destination, famed for its cobalt blue waters and Olympic-quality ski resorts, wasn’t there for the reason you’d think.

Fodor’s “No list” highlighted beloved getaways that needed a break, and Tahoe was up there with the neediest. Citing a pandemic influx of remote workers, second home buyers, traffic gridlock and packed beaches, the guide concluded “Lake Tahoe has a people problem”.

Chart of the week Sacramento Financial Advisor

For fast-growing startups, an IPO is often the ultimate goal, a milestone after which the company has officially “made it” — but how is the class of 2020/21 getting on?

RobinhoodCoinbaseAirbnb and many other high-profile companies were among those to go public in the last 3 years, cashing in on frothy markets. However, since then, many have failed to live up to lofty expectations.

* Thanks to Chartr for the infographic and commentary.

Yahoo Finance illustrates nine companies 2023


Idowu Koyenikan money realizes that it is in good hands


If you speak with someone who is concerned or unsettled about their investments or advisor, we welcome talking with them.

Trending Today Our Community

While the global 24/7 news cycle churns, twists, and turns, here are a number of fun, local trending events of note:

  • Wednesday, February 22, Stephen Marley, Crest Theater
  • February 24 – Sacramento Baroque Soloists – The Concerto Resplendent – St. Paul’s Episcopal Church
  • February 25 – Sac Philharmonic & Opera – Pagliacci! – SAFE Credit Union Performing Arts Center
  • March 9 – ArtMix at the Crocker – MOVEments
  • March 19 – Sacramento Jewish Film Festival – Crocker Art Museum
  • April 30 – Sacramento Grilled Cheese Festival – Southside Park Sacramento

As always, we sincerely value our relationships and partnerships with each of you, as well as your trust and confidence in us here at Towerpoint Wealth. We encourage you to reach out to us at any time (916-405-9140, info@towerpointwealth.com) with any questions, concerns, or needs you may have. The world continues to be an unsettled and complicated place, and we are here to help you properly plan for and make sense of it. 

Joseph Eschleman, Jonathan, Steve, Lori, Nathan, Michelle, Luis, and Megan

Thank You For Trusting Us Towerpoint Wealth Team 2023

We enjoy social media, and are actively growing our online community!

Follow us on any of these platforms, message us there and let us know your favorite charity.
We will happily donate $10 to it!

Click HERE to follow TPW on LinkedIn
Click HERE to follow TPW on Facebook
Click HERE to follow TPW on Instagram
Click HERE to follow TPW on Twitter