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We welcome Bob Doll, Senior Portfolio Manager and Chief Equity Strategist at Nuveen Asset Management, to share a Christian perspective on investment planning in a turbulent market.
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Show Transcript:
Hi, my name is Keith Johnson, Planned Giving Officer at Cairn University and also The Regency Foundation. Welcome to our wealth planning podcast series. My hope is you will discover some financial planning strategies, based on principles from God’s Word that can be practical and helpful to you and your family.
Throughout this podcast series we are focusing on 13 wealth management issues most of us will face in our lifetime. Today I want to focus on Investment planning which is one of those 13 issues.
If we look back to 2009, we can see that the stock market not only recovered from those very dark days that began in the fall of 2008, but it has also given us a significant returns. Since November of 2016, for example, the stock market has provided investors with gains in that relatively short period of time.
But as we entered the month of February of this year, we began to experience turbulence in the market. On February 5th, for example, we experienced the single largest point drop in history of the market.
To bring some guidance and perspective to our listeners, I am very pleased to have as our guest today, Bob Doll who is Senior Portfolio Manager and Chief Equity Strategist at Nuveen Asset Management. For those who do not know, Bob also serves on the Board of Cairn University as well as The Regency Foundation.
Bob, welcome to our Podcast and thank you for being here.
- Take a moment and share with us a little about your background.
- How did you get into the financial services industry?
- One of the things I personally appreciate is the fact that you serve on the Board of Cairn University and also the Regency Foundation. Why led you to serve on our Board?
- Back in January you published your ten predictions for 2018, now that some time has passed, are there any changes would you make to those predictions?
- Investors have experienced some significant volatility in the market in recent weeks, what steps should investors take during times like these?
- For our students and alumni, what advice can you give for those who might be interested in getting into the financial services industry?
- As a financial services professional engrossed in the world of investments, how does your faith intersect with your career?
Charitable giving is an important key element in properly managing the financial planning process. Charitable Giving provides the best alternative to paying taxes. Selecting the right charitable giving technique can offset most, if not all, of the taxes due.
A planned giving idea I would like to share especially in light of the markets today, is the opportunity to give highly appreciated stock or mutual funds rather than cash to the University. By giving stock rather than cash you will avoid all capital gains tax plus receive an income tax deduction for the total amount of the gift.
“For example: Let’s say you are interested in making a gift during matching gift week coming up March 19th. Let’s assume you were planning to give a gift of $10,000. Let’s also assume you own 100 shares of AAPL which you purchased for $90 per share a little over a year ago. Rather than writing a check, it would be to your advantage to donate 60-70 shares of your AAPL to the University. At a current price of approximately $175 per share, you will save tax on $85 per share in capital gains plus receive a tax deduction for the entire gift.
But you say, I want to keep my AAPL. All you need to do is take the $10,000 you were going to give to the University and buy your shares back in the market.”
That is a great example of how powerful Planned Giving can be.
Planned Giving provides a way for people to create a lasting legacy. It also offers tools that allow people to determine how they want to support causes and organizations they care about, both in life and in death. As we go through this podcast series, I will continue to offer some unique ways you can support Cairn University.
Bob, are there any last comments you would like to make before we close our session today?
At Cairn University and The Regency Foundation we want to be a valuable resource of information and ideas you can use in a practical way. To that end, I am pleased to announce that we are offering one hour of financial planning consultation at no charge to you. If would like to take advantage of that benefit or if you have any questions, feel free to contact me by email at [email protected].
I want to thank my special guest, Bob Doll for being with us today.
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