New England Capital Blog

By far the most common question I get asked these days is “what is next?”.  Many times, it starts like this: “Chris, I know you don’t have a crystal ball, but…..”  Actually, I do have a crystal ball!  Chris Lee gave me one years ago. It’s on a shelf in my office.  Unfortunately, it doesn’t tell me what is going to happen next.  It does not flash red at the top of the market telling me to get out before a market correction.  Just as important, it does not have bells and whistles going off at the bottom of the market letting me know to be fully invested.  Maybe I should check the return policy since it may be defective!

Luckily for you, at New England Capital, we prefer proper planning over prognostication.  When I hear all the predictions coming from “experts” this time of year I’m reminded of economist, John Kenneth Galbraith’s quote: “The only function of economic forecasting is to make astrology look respectable”. For clues as to what might be ahead, let’s look at how we got to where we are today.

I want everyone to close their eyes and go back to December 31^st, 2019.  Wildfires had scorched a huge chunk of Australia, Tom Brady won his 6^th Super Bowl; Tiger Woods returned to golf to win his 5^th Masters; Bradley Cooper and Lady Gaga’s lusty Oscar performance; and the series finally of Game of Thrones.

Fast forward from that day up to December 31^st, 2020.  If you took a long nap throughout the year and woke up and told you that the stock market ended up the year double digit gains, what would you think?

Christopher Beale was recently on Fox 61 News discussing what to do if you were to win the lottery!

All of us at New England Capital Financial Advisors would like to take this opportunity to wish you and your family a very warm holiday season and especially in these pandemic times, a very healthy, safe and prosperous New Year. It is one of our greatest pleasures to exchange season’s greetings and thank those whose friendship and goodwill are so highly valued. 

What a year it has been. 2020 no longer references the current year. 2020 is the latest swearword added to our lexicon! Use it with great flexibility like, “bull 2020” or “son of a 2020”.

While so many of us can't wait to turn the page of the calendar and kick the year 2020 to the curb, I'd like to find reasons to celebrate it.

We were very pleased at the large turnout we had for our October 5^th event/webcast on The US Election and Geopolitics in the Age of Disruption with special guest John Emerson from Capital Group.  Unfortunately, Capital Group did not allow for the taping of the event, which is why we are unable to post that webcast here on our blog.  For those of you that were unable to make the webcast, Capital Group did post a podcast on much of the discussion we had on Monday which you can listen to here:

Here is the transcript of the video above:

We miss you! We miss you at New England Capital. We also miss feeling normal and comfortable in our daily activities. I don't have a mask on as I speak to you because no one is within 6 feet of me as I record this blog in our conference room. Our new protocol in the office is to arrive to the office with masks, have our temperature taken, continue to wear masks and keep social distance whenever we are not at our workstations or desks. It's just not comfortable, nor does it feel normal.

Here is the transcript of the video above:

It’s getting to be that time of year – every 4 years actually – when the upcoming presidential elections can cause some very powerful emotions and get investors anxious and sometimes nervous.  Compound the elections this year with the COVID crisis dominating the news, it could make for some volatile times in the market. 

Do you want your teenage children, grandchild, niece or nephew to understand the true value of money and the importance of it?  Are you frustrated with their lack of financial knowledge?  If so, New England Capital Financial Advisors, LLC is here to help and is offering the following online classes below. 

When:            5 sessions via online, weekly on Wednesdays, from July 15^th through August 12^th 2:00PM-3:00PM.  They can take one session or can take them all.

Who:             High school students and recent high school graduates

Here is the transcript of the video above:

New England Capital’s Business Continuity Plan 

Chris Beale:  You might notice the byline on this article is both Chris Lee and Chris Beale. The reason for that is we knew there's only one topic to talk about this quarter, which is the coronavirus and its effect on the US economy and you. It is our sincere wish that all of you are safe and well and doing everything you need to do to maintain your health and safety. We certainly wish our sincere gratitude to all first responders and anyone in the medical field, as well as essential businesses that are keeping us safe.

Financial Assistance - For Businesses

Connecticut Recovery Bridge Loan Program: Connecticut businesses with less than 100 employees impacted by COVID-19 may apply for a one-year, no-interest loan of up to $75,000 through the Department of Economic and Community Development (DECD). For more information and to apply, click here.

Federal Disaster Assistance Loans: The U.S. Small Business Administration (SBA) is offering low-interest federal disaster loans to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19). These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. The interest rate is 3.75% for small businesses without credit available elsewhere; businesses with credit available elsewhere are not eligible. The interest rate for non-profits is 2.75%. SBA offers loans with long-term repayments in order to keep payments affordable. Terms are determined on a case-by-case basis. To apply, visit www.sba.gov/disaster or call the SBA at 1-800-659-2955.

CARES Act & Paycheck Protection Program (PPP) Loans: Part of the CARES Act, the PPP can provide direct cash flow, through federally guaranteed loans, to employers who maintain their payroll during the pandemic. If employers maintain their payroll, the loans will be forgiven. The program can be retroactive to February 15, 2020 in order to bring workers back onto payroll who may have already been laid off. Smalls businesses, non-profits, and other veteran and Tribal organizations are eligible. Borrowers may apply for PPP loans as well as other SBA assistance, as long as they do not use the PPP loan for the same purpose as the other SBA loans. Businesses can apply for a PPP loan through any existing SBA lender. For more information about PPP and other SBA assistance, visit https://www.sba.gov/funding-programs/loans/coronavirus-relief-options. Small businesses can also access a comprehensive guide to the CARES Act here.

Christopher W. Beale, CFP®, our founder and managing partner, recently appeared on the Chaz & AJ show on 99.1 PLR.  Chris spoke about the recent turmoil in the markets due to the Covid-19 outbreak.  To listen, click the link below.  He appears at the 57:40 mark.

https://www.wplr.com/2020/03/17/podcast-tuesday-march-17-local-businesses-impacted-by-the-coronavirus-shutdown/

For those hoping to read the continuing description of my visit to the MIT AgeLab in Cambridge, MA, you’ll need to wait until my next blog post in April.  For this blog, I felt it was more important to review The Setting Every Community Up for Retirement Enhancement (SECURE) Act, which is the most significant and sweeping retirement tax law since the Pension Protection Act of 2006 and Employee Retirement Income Security Act (ERISA) of 1974.

The SECURE Act passed in the House of Representatives in May by a bipartisan vote of 417-3.  It was bogged down in the Senate until it was attached to the spending bill in December.  That bill, which raised the debt ceiling and avoided another Federal Government shutdown, was passed by a vote of 81 -11.  President Trump signed the Bill into law on December 20^th and most provisions of the law took effect on January 1, 2020.  This proves to me that Congress can be non-partisan; especially if it means more money for both parties to spend!  For example, one provision alone is estimated by the Congressional budget office to bring in $15.7 billion over the next 10 years.

Of the many provisions of the act, here are what I believe are the most significant features:

There seems to be so much uncertainty these days, between ongoing impeachment hearings (if it ever makes it to the Senate) and now the escalation and tension with Iran, never mind threats of “Christmas presents” from North Korea.  These seem to be some scary and unstable times.

Added into this uncertainty is the above average growth that most of you have seen over the past year in your investments.  2019 was a great year that saw the S&P 500 (500 largest US companies) up 31%, MSCI World Index (outside of the US) up 22%, and the Barclays US Aggregate Bond index was up 9%.

With the big gains it can be human nature to want to sell all the investments and wait for the market to drop or at least get some more certainty in the world.  While that may make you feel better, there is real risk to doing that.  This would be called “market timing”.  The hard part of “timing the market” is that you must be right twice.  You need to know where the top is and where the bottom is.  For example, if you sell now and the market drops 10%, do you get back in?  What if it drops 20%?  Vice versa – say the market goes up 10%.  Do you get back in?  If it drops 10% from there, what do you do?

• If you have a retirement account (IRA, SIMPLE, Roth, SEP) and took money out last year, the 1099-R should be mailed from your custodian (Schwab/Fidelity/National Advisors Trust) by the end of January.

• If you have a non-retirement accounts at Fidelity, Schwab or National Advisors Trust, you will not be receiving your 1099 until the third week of February.

• Please note that any management fees that may be deductible are included on the 1099 Composite from Fidelity, Schwab or National Advisors Trust.

• Please note that we cannot speak to your tax preparer or accountant regarding your accounts without your prior authorization. Matt and Ann will be available to assist you with any questions or issues regarding tax documents this tax season.  Please email  This email address is being protected from spambots. You need JavaScript enabled to view it.  or  This email address is being protected from spambots. You need JavaScript enabled to view it.

Once again, this year in lieu of having our annual Secret Santa gift exchange, the staff at New England Capital decided to sponsor a local family in need for Christmas through the Beat The Street Community Center in Meriden. 

Christmas In The Village South Meriden was held on Saturday, December 7th from 1:00 to 4:00 PM on Main St in South Meriden. The event started with a parade featuring Santa, Elves, Frosty the Snowman, Rudolph, Little Mister and Miss Hanover School, many local community organizations and marching bands.

New England Capital is proud to be a part of Christmas In The Village South Meriden, which will be held on Saturday, December 7th from 1:00 to 4:30 PM on Main St in South Meriden. The event starts with a parade featuring Santa, Elves, Frosty the Snowman, Rudolph, Little Mister and Miss Hanover School, many local community organizations and marching bands. After the parade enjoy horse drawn carriage rides, tree lighting, entertainment, baked cinnamon apples, hot chocolate, hot cider, popcorn, hot dogs, doughnuts, pictures with Santa, chestnuts roasted by the crew at New England Capital and much more.

All of this is completely free of charge! Parking is at AGC, Hanover School and Habershon Field. The festival also offers easy ways to give back to the community. Prom Angels will be collecting prom dresses. The Salvation Army will be collecting gently used coats and nonperishable food items.  Luminaries will be sold for $5.00 each to benefit Roadway of Hope. It's a great way to pay tribute to loved ones. Hanover Elementary School will be hosting a craft fair and you will find crafts, games, baked goods and the Nativity at South Meriden Trinity Methodist Church.

All of us at New England Capital Financial Advisors would like to take this opportunity to wish you and your family a very happy holiday season and a very healthy safe and prosperous New Year. It is one of our greatest pleasures to exchange season’s greetings and thank those whose friendship and goodwill are so highly valued.

In addition to the financial planning work done by our Certified Financial Planners in the office, another main activity we do is investment management.  At this time of the year, the list we make and check twice for both our broker/dealer clients and our investment advisory clients is our Required Minimum Distribution (RMD) list.  It’s not quite a “naughty or nice” list, but it could have very bad consequences.  For example, we review our client lists to see who needs to take required distributions from their retirement accounts to make sure the minimum amount required by the Internal Revenue Service has been distributed.  If the required amount has not been taken, the IRS penalty is 50% of what should have been taken.  That’s a tremendous penalty we want you to avoid! 

For our advisory clients we will make changes to our managed portfolios as we constantly search for the best and most appropriate mutual funds, exchange traded funds and other investments for the achievement of your goals.  We also look for tax loss harvesting opportunities where we can offset potential capital gains with any capital losses that may have occurred.  We also will typically rebalance your advisory accounts annually that our in our model portfolios.

Last month, I had the privilege of touring the MIT AgeLab to gain insights into issues all of us face as the average life expectancy continues to increase. My guide was Joseph Coughlin, PhD who founded the AgeLab at Massachusetts Institute of Technology in 1999.

Unlike some research think tanks that only focus on retirement, the MIT AgeLab’s goal is to improve the future quality of our lives by improving people’s physical and financial health. They aim to achieve this through technological innovations, how products are designed, how services are delivered and how local and national policies are implemented. The AgeLab applies a multi-disciplined consumer-centered approach to imagine what tomorrow will look like for people 45 and older.

The research focuses on the challenges and opportunities of longevity which include topics such as:

A couple of weeks ago, I (and about 30 other financial related professionals) was invited to sit down with the Governor of Connecticut, Ned Lamont, to talk about the financial health of the state.  I was rather surprised when I got the email invite from one of his senior advisors.  The senior advisor had found me on a google search, as I am currently the President of the Financial Planning Association CT Valley Chapter (this is our trade organization throughout the state comprised mostly of CFP’s and financial planners).

In addition to Governor Lamont, David Lehman, the Economic Advisor and Commissioner of Economic Development for the State of Connecticut, was going to be there as well.  The purpose of the meeting was to engage in a dialogue with the Governor and other industry colleagues about the Connecticut economy, the Governor’s focus on fiscal stability, and an opportunity to share our perspective with Governor Lamont as well as ask questions.  What a great opportunity to hear from the Governor and be able to voice my thoughts and opinions, especially since I hear from a lot of you on how you feel about Connecticut.

Congratulations to the Bride & Groom! Lindsey Teach & Jeff Larson were married in a beautiful ceremony on August 24, 2019. We wish them many years of happiness together!

If you’ve been in the office recently on a Friday, you might have noticed us wearing jeans.  We recently implemented Jean Friday’s in the office where if employees choose to wear jeans, they make a $5 donation to charity. Each quarter an employee oversees collecting the funds and then gets to choose the recipient.  The first quarter, Ann Ocone was in charge and chose the Meriden Humane Society.  

The first six months of 2019 have been a good year. I mean the stock market gains for the first six months of 2019 would be above average performance for any 12 month period. The S&P 500 is up over 17% year-to-date with the first three months being up about 13% and the second three months adding an additional 4%. International investors as measured by the Europe, Asia, Far East (EAFE) index were up almost 2.5% in the second quarter and up over 11% in the first half of 2019.

The bond market continues its long stretch of low yields. The 10 year US Treasury Bond currently yields around 2% annually. If you had left half your money in the treasury bonds and half in the S&P 500 Index, your total return for 2019 would be almost 10%. Again, not a bad annual return jammed into the first six months of the year.

Where do we go from here? The US is growing at a “healthy tortoise pace”. We are still growing at about a 2% rate which is less than half the growth rate of historic expansions. This month, the economic expansion officially became the longest expansion on record.

Throughout my 26-year career, this question comes up quite a bit and is not always an easy one to answer.  After all, you have 8 years to choose from (as early as age 62 and as late as age 70).  Let me first say that everyone is unique, and decisions are not always financial-based.  Some decisions are based on health, life expectancy, and spousal needs.  There are pros and cons to starting Social Security early as well as taking it later.  This article will explore taking it early and my next newsletter article will focus on taking it later.

Before we get started, you need to know your Full Retirement Age (FRA).  Depending on when you start your benefits, they may be reduced for taking it early or increased if taking it late:

No. I’m not referring to the sex talk. The talk you need to have is about college. Not just about choosing the right college academically but also financially.

The college path is not right for everyone, even if the cost was free. Success, happiness and financial security can certainly be attained without a college degree. College diplomas don’t come with any written or implied guarantees of future fortune or fame…even diplomas from the most prestigious universities.

That being said, in our technologically sophisticated and complex society, advanced education and training beyond high school may be the best way to better jobs and higher lifetime earnings. According to The Center for Education and The Workforce, the average college graduate with a bachelor’s degree, will earn $2.8 million over his/her lifetime. The average high school graduate with no additional higher education will earn $1.5 million over his/her lifetime.

As some of you know, this topic is dear to my heart as I currently volunteer my time as President of the Connecticut Jumpstart Coalition for Personal Finance (www.ctjumpstart.org).  This Coalition encourages the development and implementation of programs to educate young people about personal financial management and responsibility. This includes convening conferences for students and training sessions for teachers; supporting financial education programs in-school, after-school and in conjunction with community partners.

In this article, I will discuss why teaching personal finance is so important, what new data is telling us, and some things you can do for your kids, grandkids, nieces, nephews, or other children to help them learn personal finance.

But first, why is this so important to me?  When we do not teach children about personal finance – about managing household budgets or making informed decisions about larger investments in education or at home – we are condemning them to learning it largely and perhaps entirely on their own, if at all.   If we teach them subjects like science, history, and math but do not teach them anything about personal finance, then we need to understand that we are making a conscious choice to release them into a financial world where they have to fend for themselves.

Our team is growing and we have two new faces at New England Capital!  Lindsey Teach and Maggie Bochenek recently joined us and they are great additions to our team! 

Many investors have been shaken by this year’s volatility, especially after the long calm period with positive returns experienced prior to 2018.

March 2019 will make the 10 year anniversary of the low point in the stock market after the Great Recession. Starting from that low point, was a tremendous tailwind that worked in our favor over the last 10 years and caused the US stock market as measured by the Standard and Poor’s 500 (S&P 500 Index) to rise almost 400%. Stocks are clearly not as cheap now suggesting their returns will be more modest over the next five years.

The following is a list of other tailwinds that help market performance and enhance economic growth and headwinds that hurt market performance and slow economic growth.

Lies, cover-ups, payoffs and investigations - from the president’s sex life all the way to his campaign's finances.   Add to that, a tariff war and possible collusion with another nation effecting our election.  The word impeachment has floated around as well.  Investors are anxious and worried about all these uncertainties in the market and are looking for some direction.  

Believe it or not, all these market headlines occurred over twenty years ago with then President, Bill Clinton.  As they say, history tends to repeat itself, but let’s review some of the issues that were in the news back then.

Tariff War - President Bill Clinton initially took a hardline approach on the U.S. trade deficit with Japan and prioritized extracting economic concessions from Tokyo.  Originally, the Clinton Administration placed a 100 percent tariff on 13 luxury car models.

• If you have a retirement account (IRA, SIMPLE, Roth, SEP) and took money out last year, the 1099-R should be mailed from your custodian (Schwab/Fidelity/National Advisors Trust) by the end of January.

• If you have a non-retirement accounts at Fidelity, Schwab or National Advisors Trust, you will not be receiving your 1099 until the third week of February.

• Please note that any management fees that may be deductible are included on the 1099 Composite from Fidelity, Schwab or National Advisors Trust.

• Please note that we cannot speak to your tax preparer or accountant regarding your accounts without your prior authorization. Matt and Ann will be available to assist you with any questions or issues regarding tax documents this tax season.  Please email  This email address is being protected from spambots. You need JavaScript enabled to view it.  or  This email address is being protected from spambots. You need JavaScript enabled to view it.

This year in lieu of having our annual Secret Santa gift exchange, the staff at New England Capital decided to sponsor a local family in need for Christmas through Our Lady of Angels in Meriden.   

All of us at New England Capital Financial Advisors would like to take this opportunity to wish you and your family a very happy holiday season and a very healthy safe and prosperous New Year.  It is one of our greatest pleasures to exchange season’s greetings and thank those whose friendship and goodwill are so highly valued.

2018 was a milestone year for New England Capital.  30 years ago, I started New England Capital in my parents’ basement after spending five years at a Wall Street firm, including two and a half years managing the branch office in Birmingham, AL.   I have been truly blessed during my 35-year career to be able to provide financial planning and advice to wonderful people who have transcended from valued clients to true friends.  I thank you for allowing me to become part of your lives. 

I want to include my deepest gratitude for the people who have also signed this letter.  Thank you for all you do, not only for me, but also for every one of our clients whom you serve so diligently and so thoughtfully throughout the years.  It is a pleasure to work with you daily.  Your dedication and commitment allows us to continue to strive for excellence in all we do.  Your talent and hard work reflect so brightly on me. I am thrilled to formally and publicly thank you in this forum.

Christmas In The Village South Meriden was held on Saturday, December 1st from 1:00 to 4:00 PM on Main St in South Meriden. The event started with a parade featuring Santa, Elves, Frosty the Snowman, Rudolph, Little Mister and Miss Hanover School, many local community organizations and marching bands.

Ten years ago, in 2008, we were in the middle of a worldwide financial crisis. I personally will never forget that time and its effects on me and the clients of New England Capital. I have been reliving this time, almost day-by-day, with the help of a book I am currently reading. A friend and client (thank you Don) lent me former Federal Reserve Chairman Ben Bernanke’s book called “The Courage to Act: A Memoir of the Crisis and Its Aftermath”.

Like many financial crises before it, excessive debt can be at least partially to blame for this “Subprime Crisis”. Simply put, people, companies and countries get themselves into trouble by borrowing more than they can afford to pay back. As Bernanke said in his book, “The financial crisis of 2007-2009 had several triggers. The most important and best known is the rapid run up and subsequent collapse in housing prices and construction.”

Other triggers include risky lending practices to individuals and real estate developers. Banks and mortgage companies were incentivized to construct and sell complicated financial instruments that magnified the leverage while making these loans appear safe.

Last week, there was finally some evidence that the investment markets were starting to get jittery about the escalating tit-for-tat tariffs and threats of tariffs that some economists are calling “America vs. the World.”  Most investors are probably wondering whether new taxes on items flowing into and out of the U.S. really is something to worry about.

It is on several fronts.  First, and most specifically, certain economic sectors will be big losers in an escalating tariff battle.  When President Trump imposed tariffs on steel and aluminum imports, solar panels and washing machines, China responded with an equal dollar amount of tariffs on certain agricultural products, including soybeans, meat, fish, milk and cream, various fruits and vegetables, alcohol, dog and cat food and cotton—all of which directly impacted the economics of many midwestern farmers (who China obviously presumes to be Republican voters). China and the European Union have imposed tariffs on Kentucky bourbon, Harley-Davidson motorcycles, pork and maple syrup, whose manufacturers and workers probably reside on both sides of the political aisle. 

If you’re a soybean farmer, then the fact that Brazilian soybeans are now extremely competitive in the large and growing Chinese market can be extremely discouraging.

The following was adapted from a speech given on June 28, 2018 at New England Capital’s 30^th Anniversary Celebration at Holiday Hill Outing and Events Center.

I would like to thank everyone for coming out tonight but really, I thank you for so much more.

I am truly grateful to all of you for allowing me and New England Capital to be part of your family, to be part of your life, to assist you with achieving your hopes and dreams, and to try to put meaning behind your money.   Your successes are our successes. Our goal is to successfully guide you to and through a fulfilling career and through retirement. 

My last article discussed homeowners insurance and the types of coverage that you should consider when protecting your house.  Continuing that theme, this article will address some important items that were not covered including liability insurance, additional coverage for other losses, medical payments coverage, and finally umbrella policies.

Insurance can be a boring subject, BUT a very necessary one.  If you do not have the proper insurance in place, all of our good planning and savings could come crashing down!  Every July 1st, my own personal policy is up for renewal, and I use that time to look over the policy and see what type of coverage I have and what is needed.  As always, I recommend that you talk to a professional agent for Property and Casualty Insurance to see what type of coverage you have and what is needed.

Personal liability coverage is a typical component of a homeowner’s insurance policy. While no one expects to be held liable after an accident at their home, liability coverage may help prevent you from paying out of pocket should the unexpected occur. 

New England Capital recently celebrated their 30^th Anniversary with clients at Holiday Hill in Prospect!  The founder of the firm, Christopher W. Beale, CFP®, started the firm in July 1998.  This was a great celebration that was well attended with great food, music, and friends. 

The Interval House hosted its annual Step Up, Step Out Gala Saturday evening, April 14, at the Society Room of Hartford. More than 250 people attended to support the nonprofit organization's mission to help victims of domestic violence. The staff of New England Capital was proud to attend this event and to support such a worthy cause.  For more information on Interval House, please visit www.intervalhousect.org.  

Another day. Another tweet. Another tariff. Another volatile stock market day.

I was planning to write my quarterly blog about issues facing baby boomers as we age, but the topic of tariffs have taken center stage. Then I had an epiphany. These two topics are closely related and need to be combined. Why not place a tariff on all imported old people!

I know what you’re thinking.  Chris, you’re brilliant. The money raised from the tariffs on old people coming into the United States will be used to reduce the strain on the Social Security and Medicare systems caused by the increasing population of people over age 65. And yes, as a bonus my solution also finally addresses two other thorny problems for President Trump—immigration and jobs.

For most clients, one of their largest assets is their house or residence.  With that being said, it is good to review your homeowner’s policy from time to time.  For most of you that have been with us, you have seen our “Success Triangle” and one of the items at the foundation of that Triangle is insurance.  This is because if the proper insurance is not in place, it jeopardizes the rest of your financial health.  In this article, we will discuss how much coverage you should have, what most polices cover and what they don’t.

What is a homeowner’s policy?

Homeowner’s insurance protects your home, its contents, and, indirectly, your other assets in the event of fires, theft, accidents or other disasters.  A standard homeowner’s policy (known as an HO-3 policy) will protect you from things like fires and fallen trees.  Floods or earthquakes are specifically not covered by a standard policy and require additional coverage.

• Happy Silver Anniversary! – Chris Lee recently celebrated his 25th Anniversary working at New England Capital.

• If you have a retirement account (IRA, SIMPLE, Roth, SEP) and took money out last year, the 1099-R should be mailed from your custodian (Schwab/Fidelity/National Advisors Trust) by the end of January.

• If you have a non-retirement accounts at Fidelity, Schwab or National Advisors Trust, you will not be receiving your 1099 until the third week of February.

• Please note that any management fees that may be deductible are included on the 1099 Composite from Fidelity, Schwab or National Advisors Trust.

• Please note that we cannot speak to your tax preparer or accountant regarding your accounts without your prior authorization. 

• Matt and Ann will be available to assist you with any questions or issues regarding tax documents this tax season.  Please email This email address is being protected from spambots. You need JavaScript enabled to view it. or This email address is being protected from spambots. You need JavaScript enabled to view it.

As college students end their winter break and head back for spring semester, I thought it would be a good time to review some college planning basics.

I tell clients there’s no “magic bullet” for accomplishing the college savings goal. Paying for college for your children usually incorporates several strategies including:

• Saving money in a college fund
• Scholarships and Grants
• Loans by parents and/or students
• Re-directing current income from parents or students during the college years.

In most cases, the best vehicle to save for college is 529 savings accounts. 529 refers to the section of the Internal Revenue Service code which allows for tax preferential treatment of college savings accounts. 529 plans are typically owned by the parent with the child as beneficiary.

As many of you are aware, we had sweeping Federal tax law changes for the first time in 30 years that will have both positive and negative effects on many of you.  Please note that these changes are not uncommon and usually do happen every 30 years, with the last two coming in 1981 under President Reagan and before that, in 1945 under President Truman.

In this article we will discuss, as Clint Eastwood would say, “The good, the bad, and the ugly” of the bill and how it may affect you.  Please note that this article is not meant to be a comprehensive guide to every caveat of the law, but it does cover the high points and makes it obvious how important good financial and tax planning will be (as it was in the past and will continue to be in the future)!  First though, let’s talk about some of the things that did not change:

UNCHANGED

All of us at New England Capital Financial Advisors would like to take this opportunity to wish you and your family a happy holiday season and a very healthy safe and prosperous New Year. It is one of our greatest pleasures to exchange season's greetings and thank those whose friendship and goodwill are so highly valued.

This holiday season seems to be more enjoyable after a good year of gains in the markets.  Most markets have done well this year; stocks and bonds both in the USA and globally.  For example, the US stock market, as measured by the S&P 500, has had over 50 new record highs so far in 2017.  While some believe the US stock market is overvalued, others believe that the current valuations are supported by record earnings.   A company’s earnings may be the biggest factor in determining its value. 

In fact, for the first time in years, the world’s major economies all appear to be trending higher.  United States GDP (Gross Domestic Product) will increase at a 2.4% rate for 2017 (compared to 1.6% for 2016).  Europe and Japan seem to be turning a corner with 2017 GDP rates slightly ahead of 2016’s.  China’s growth rate in 2017 shows more stability than many expected.  At 4.5% GDP, emerging markets could have room for further growth. 

Christmas In The Village South Meriden was held on Saturday, December 2nd from 2:00 to 5:30 PM on Main St in South Meriden. The event started with a parade featuring Santa, Elves, Frosty the Snowman, Rudolph, Little Mister and Miss Hanover School, many local community organizations and marching bands.

Christmas In The Village South Meriden will be held on Saturday, December 2nd from 2:00 to 5:30 PM on Main St in South Meriden. The event starts with a parade featuring Santa, Elves, Frosty the Snowman, Rudolph, Little Mister and Miss Hanover School, many local community organizations and marching bands. After the parade enjoy horse drawn carriage rides, tree lighting, entertainment, baked cinnamon apples, hot chocolate, hot cider, popcorn, hot dogs, doughnuts, pictures with Santa, chestnuts roasted by the crew at New England Capital and much more.

Organizers are hoping to have a bonfire as well. All of this is completely free of charge! Parking is at AGC, Hanover School and Habershon Field. The festival also offers easy ways to give back to the community. Prom Angels will be collecting prom dresses. The Meriden Neighborhood Police Officers will be collecting gently used coats, gloves, mittens, hats, and scarves. Luminaries will be sold for $5.00 each to benefit Girls Inc. It's a great way to pay tribute to loved ones. Bring a canned food donation for the Meriden Soup Kitchen and you'll have a chance to win a prize from the special raffle. Hanover Elementary School will be hosting a craft fair and you ill find crafts, games, baked goods and the Nativity at South Meriden Trinity Methodist Church.

Congratulations to Chris Beale, Chris Lee, Ann Ocone, Gary Maratea, Matt Sczurek and Deb McConnell for completing the Fishbein/Wallingford YMCA 5k on Sunday October 8th!  The proceeds from the annual Fishbein/YMCA Road Race benefited the LIVESTRONG at the YMCA program.