A potential increase in taxes has been at the forefront of client conversations, though Spuds Powell is preaching patience. Spuds believes there will be a tax increase of some kind, but not at a level where he is advising clients to make dramatic changes in order to mitigate the increase—risking the loss of a potential gain and getting hit with a retroactive tax hike in the end regardless.
“It’s common for people to make the mistake of being so focused on either minimizing or avoiding taxes, that they end up making decisions that compromise their investment portfolio.”
Spuds believes the worst mistake an investor can make is letting their emotions – especially fear – impact their investments.
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