Home » Amy V. Smith » Recent Articles:

Six Things to Know to Weather a Market Downturn

February 3, 2016 Amy and Dan Smith, Columns Comments Off on Six Things to Know to Weather a Market Downturn
Smith0035

It’s natural to be nervous when the markets head for negative territory. Keep a positive perspective with these six investing reminders.
It can be very unsettling for investors when their portfolios and the markets start heading for the red and fear sets in that all you’ve worked for and set aside for retirement and other goals could be at risk. Here are six investing basics to keep in mind during volatile times:

Periods of volatility are normal – All markets move in cycles and periods of steep contraction are completely normal. While the length of market contractions varies, periods of growth and expansion are usually waiting on the other side. Since 1973, stocks have fallen more than 10 percent and subsequently rebounded eight times.

Don’t Panic – Letting emotions dictate your investing strategy is a risk you should not take. Short-term decisions can have long-term consequences on your portfolio. Being patient can pay dividends.

Know your portfolio – Understand your investments and how specific investments represent different goals and outcomes. Keep in mind your risk tolerance and investment timeline, and if either has changed, consider talking to your financial advisor about rebalancing your portfolio. Diversification can potentially help balance risk during a downturn and mitigate extreme swings in value.

Stay the Course – Remember your financial plan and long-term goals and stick to them. A disciplined investment approach is the best strategy for handling market downturns and will likely enable you to participate when the markets rebound.

Consider opportunities – Working with your financial advisor, determine whether periods of volatility are a good time to take advantage of investment opportunities in line with your long-term plan.

You’re not alone – Your financial advisor is available to help you when you need it. He or she can guide you through difficult markets and be the independent voice and “information bodyguard” that helps you stay focused on your long-term goals.

Investing involves risk and investors may incur a profit or a loss. Past performance may not be indicative of future results. Diversification does not ensure a profit or protect against a loss. The foregoing contains general information only and is not intended to convey investment advice. Amy V. Smith Wealth Management, LLC, an independent firm, CFP, CIMA, offers securities through Raymond James Financial Services, Inc., member FINRA/SIPC. Her office is located at 161 Fort Evans Road, NE, Suite 345, Leesburg, VA 20176. (703-669-5022, www.amysmithwealthmanagement.com) Dan Smith is not affiliated with Raymond James.

Amy and Dan Smith’s Planning for Life: When the Road To Success Leads Back Home

January 7, 2016 Amy and Dan Smith, Columns Comments Off on Amy and Dan Smith’s Planning for Life: When the Road To Success Leads Back Home
Smith0035

Despite our best efforts, sometimes grown children aren’t quite ready to enter the real world.

The day our children move out of the house, graduate from college, or land their first full-time job isn’t always-or even often-the day they achieve independence. Life is full of twists and turns, and even young adults with the best laid plans can veer off course, turning to their parents for support when things get tough. One study, conducted by Arizona Pathways to Life Success, says that half of recent graduates ages 23 to 26 depend on their family’s financial support to meet their current needs. … Continue Reading

Amy and Dan Smith’s Planning for Life: Giving and Taxes

December 2, 2015 Amy and Dan Smith, Columns Comments Off on Amy and Dan Smith’s Planning for Life: Giving and Taxes
Smith0035

There is a relationship among income, gift and estate tax which can appear complex. However, in reality most of gifts are not affected by taxes.

This column addresses non-charitable gifts. Unlike a gift to charity, a gift to a person is not deductible by the donor for income tax purposes. A gift to a person is not taxable income to that person.

There is a federal gift tax but (with the exception of Connecticut and Tennessee) states don’t impose gift taxes. Here’s how the federal gift tax works: A person may make as many gifts as he/she wishes each year so long as the total value of gifts to each person for the year is within the amount of the “annual exclusion.” The annual exclusion is subject to adjustment each year and is $14,000 for 2015 and 2016. So Dad can give up to $14,000 of gifts apiece to each child, grandchild and neighbor without having to file a gift tax return, no matter how many children, grandchildren and neighbors he has. Furthermore, Mom can do the same. In fact, if Dad wants to give up to $28,000 per donee and Mom doesn’t want to give anything, Dad can “borrow” Mom’s annual exclusion for that year. However, Dad will have to file a gift tax return which Mom will sign to show she is allowing him to use her annual exclusion. (To avoid that requirement gifts can be made from joint property, as with a joint bank account.) … Continue Reading

Amy and Dan Smith’s Planning for Life: Trusts

November 4, 2015 Amy and Dan Smith, Columns Comments Off on Amy and Dan Smith’s Planning for Life: Trusts
Smith0035

A common estate planning device is the trust. A trust is simply an agreement between two people: the person who establishes the trust, who may be called the Settlor, the Grantor or the Trustor, and the person or institution who agrees to fulfill the terms of the trust, called the Trustee. There can be multiple Settlors, as, for example, a married couple; and there can be more than one Trustee. Quite often in estate planning the Settlor(s) and the Trustee(s) are the same person(s), as when a married couple creates a joint trust.

There are many different types of trust, too many to describe in the space of this article. In estate planning a “Revocable Living Trust” (RLT) is very common. This is a trust established during lifetime which the Settlor(s) can continue to change during lifetime. Usually the Settlor(s) and the Trustee(s) are the same person(s). … Continue Reading

How Divorce Affects Social Security Benefits

September 30, 2015 Amy and Dan Smith, Columns Comments Off on How Divorce Affects Social Security Benefits
Smith0035

The 10-year rule and understanding your benefit options

When it comes to retirement income, Social Security typically accounts for the lion’s share, so it makes sense to understand how to maximize your benefits. As you may know, marital status is an important decision factor when it comes to timing benefits. But, did you know divorce also comes into play? Many people see divorce as a chance to start over, a clean slate, if you will. But just because your former spouse is out of the picture, doesn’t mean his or her Social Security benefits have to be, especially if he or she earns more money than you. In fact, your ex can actually mean extra when it comes to what you’re eligible to collect.

Here’s why. If you were married at least 10 years before your divorce, you may be eligible to receive Social Security benefits based on your ex-spouse’s record, assuming he or she is entitled to them. If your ex-spouse hasn’t applied for retirement benefits yet, you can still collect on his or her record if you’ve been divorced for at least two years. This holds true even if your former spouse has remarried. And, claiming benefits on his or her record has no effect on what a new spouse can claim. Of course, you have to qualify to do so. … Continue Reading

When To Take Social Security: Timing Is Everything

September 3, 2015 Amy and Dan Smith, Columns Comments Off on When To Take Social Security: Timing Is Everything
Smith0035

As you approach retirement, there are several decisions that can impact the level of income you will receive when you stop working. One such decision will be about claiming your Social Security retirement benefit.

More than half of eligible Americans take their benefits “early”-after they reach 62, even though they are locking in a permanent reduction in their monthly payment by as much as 25 percent. Still, “early” makes sense for many if they have little in savings and simply need the money. However, many do it because they can, without realizing they are giving up progressively higher payments each year they wait to claim, potentially losing as much as 32 percent than if they had waited to age 70. Surveys have shown that nearly 40 percent in this camp actually regret their decision to claim “early” once they realize how much they have given up in lifetime income. For some couples, this could translate into hundreds of thousands of dollars for not adopting a “wait to take” strategy. … Continue Reading

A Social Security Strategy Could Enhance Your Retirement Income Plan

August 7, 2015 Amy and Dan Smith Comments Off on A Social Security Strategy Could Enhance Your Retirement Income Plan
Smith0035

By Amy & Dan Smith

What do you think of when someone mentions Social Security? Many people consider Social Security and retirement as one and the same. More than 90 percent of working Americans plan for Social Security to replace part of their current incomes when they leave the workforce. Sadly, what really happens is that, because of timing decisions, 75 percent of those already receiving benefits are drawing a reduced amount.*

Your benefits can be greatly affected by your specific circumstances during retirement. Your monthly payment amounts as well as your tax status can change if you decide to work part time or start a second career. There is also your and your spouse’s beneficiary eligibility to consider. … Continue Reading

Challenges for Blended Families

June 3, 2015 Amy and Dan Smith, Columns Comments Off on Challenges for Blended Families
Smith0035

By Amy & Dan Smith

The blended family has become more the norm than the exception in our society. As with most second marriages, Amy and I came into our marriage with our own children, our own careers and our own estates. We have experienced the challenges of the blended family.
Typically, a parent in a second marriage has conflicting loyalties. There is the desire to provide for the well being of the second spouse while, often at the same time, there is a felt duty to preserve some part of the estate (especially, of that acquired before the second marriage) for his/her children of the first marriage. This conflict can be especially acute if there is a significant age difference between the spouses. Thus, the older spouse could provide a trust for the life of his/her spouse, but this could delay significantly the benefit to the children of the first marriage by many years. … Continue Reading

Planning for Lives after Death

May 5, 2015 Amy and Dan Smith, Columns Comments Off on Planning for Lives after Death
Smith0035

By Amy & Dan Smith

This past month I once again experienced life as prelude to practice. It started with an email two weeks ago from a hospice caregiver at my father’s request with words every child dreads: “Your Dad has asked me to write and tell you he thinks the end is near. He says you’ll know what to do.” What had been planned as a birthday celebration in Florida within 48 hours ended as a death vigil for my father. My immediate family members were gathered at my parents’ home to say good-bye. Dad died quickly and peacefully after struggling for years with chronic pulmonary dysfunction. Two of us were on either side of him holding his hands while he was sitting up on the couch, and we noticed that he had stopped breathing. … Continue Reading

Amy and Dan Smith’s Planning for Life: Looking Beyond U.S. Borders

March 4, 2015 Amy and Dan Smith, Columns Comments Off on Amy and Dan Smith’s Planning for Life: Looking Beyond U.S. Borders
Smith0035

By Amy and Dan Smith

Even though U.S. equities still represent the single largest portion of the world stock markets, more than half of the world’s total stock market capitalization lies outside the United States, and economic growth rates outside the United States have in some cases exceeded that of the United States. Investors are beginning to consider diversifying their holdings beyond U.S. borders as a result. In the past, I have often recommended allocating no more than 10-20 percent of an investor’s overall portfolio to international funds. However, with the growth of global markets and the European Central Bank’s recent initiation of quantitative easing, many experts now suggest an even higher percentage can be appropriate given the right circumstances. … Continue Reading

Amy and Dan Smith’s Planning for Life: Five Equity Market Themes for 2015

February 3, 2015 Amy and Dan Smith, Columns Comments Off on Amy and Dan Smith’s Planning for Life: Five Equity Market Themes for 2015
Smith0035

By Amy and Dan Smith

Each year I read many market forecasts for the coming year from investment experts around the globe. Accordingly, I’d like to provide you with a recent article from Jeffrey Saut, Raymond James Chief Investment Strategist titled “Five Equity Market Themes For 2015”. (Readers may find the complete 2015 Outlook from Raymond James Investment Strategy Quarterly on my website www.amysmithwealthmanagement.com under “Market Views.”)

Lower Fuel Prices

This extended period of lower fuel costs should benefit companies that are dependent upon fuel as an input, such as the airlines, trucking and cruise lines, railroads, shipper, etc. Additionally, consumers are paying less at the pump and the hope is that those savings will now flow into other areas of the economy, like the consumer discretionary sector. … Continue Reading

Amy & Dan Smith’s Planning for Life: Planning Your Will

January 6, 2015 Amy and Dan Smith, Columns Comments Off on Amy & Dan Smith’s Planning for Life: Planning Your Will
Smith0035

By Amy and Dan Smith

A will is a highly protected form of writing. The requirements for a valid will must not be casually regarded. With rare exception in Virginia, only the original of a will – not a copy – may be admitted to probate. To be admitted to probate a will must (1) be in writing, (2) signed by the testator (the person making the will) and (3) signed by two competent witnesses who were both present with the testator either to watch him sign it or to hear him acknowledge his signature. There is a popularly known exception for a will, which is entirely in the handwriting of the testator, called a “holographic” will. However, it is dangerous to rely on this exception because it is very narrowly applied by the courts.

The requisite formalities may not be strictly applied to wills made by persons in military service. Wills made by a person deemed of “unsound mind” or by a minor are not valid. … Continue Reading

Amy & Dan Smith’s Planning for Life: Explaining Process of Probate

December 10, 2014 Amy and Dan Smith, Columns Comments Off on Amy & Dan Smith’s Planning for Life: Explaining Process of Probate
Smith0035

The term “Probate” derives from the Latin Probatio meaning “proof.” The term came to be applied specifically to proof of wills. In common practice, when a person dies, the proponent of a will takes it to court (usually a probate clerk) and “proves the will”; that is, the proponent submits the will as the true and authentic last will and testament of the deceased person (the “decedent”). In addition, a death certificate or an obituary notice must be produced and a “list of heirs,” which consists of the names and addresses of the people who would take an estate if the decedent died without a will.
The term “probate” now is commonly used to refer to the process of administration of a decedent’s estate whether he/she died with or without a will. If there was no will, the decedent is said to have died “intestate,” in which case the estate will pass to the “heirs at law.” Each state by statute lists the order of family members who will take the estate of a person dying without a will. … Continue Reading


 

 

 

 

 

Columns

The Grim Reaper and the Great Barrier

noerpel_new

(to be presented to the Board of Supervisors in January) “The recent frequency and intensity of mass coral bleaching are of major concern, and are directly attributable to rising atmospheric greenhouse gases.” [1]

Pearl Harbor

flag

By Nicholas Reid Seventy-five years ago this December 7, to quote President Franklin D. Roosevelt, “the United States of America was suddenly and deliberately attacked by naval and air forces of the Empire of Japan.” It will have been 75 …

Early Returns: How U.S. Markets Reacted to the Presidential Election

Smith0035

On November 8, 2016, Republican candidate Donald J. Trump won a closely contested election for president of the United States. Late on election night, when it became evident that Trump was likely to win, despite consistently trailing in the polls, …

America: Worthy of Our Trust

moore-sobelnewmug

By Samuel Moore-Sobel My friend and I sit in a bar near our office. He is upset, bags under his eyes due to lack of sleep. Thursday, our weekly night to meet is usually a happy hour filled with intellectual …

South Riding

South Riding

I should have known that this one would take me far from my contemplative, Zen-inspired comfort zone; after I’d traversed more construction projects than I wanted to tally, competed with hurried, coffee-driven commuters with no time for mere existence, and …

Support Group Help Needed

drmikenewpic

Dr. Mike, My son was diagnosed with ADHD two years ago, and his pediatrician at that time recommended we try a social skills group for his “immaturity” and “impulsivity.” We did that, and our experience was horrible. The kids in …

The State of Corals

Figure 3 close up view of healthy coral polyps. [9]

(Presented to the Board of Supervisors December 6, 2016) “Events as severe as the 1998 event, the worst on record, are likely to become commonplace within 20 years.” – Ove Hoegh-Guldberg, 1999 [4] Tony Noerpel

Student News

Congratulations, Class of 2016

6 Jul 2016

grads_woodgrove

Woodgrove High School’s Class Of 2016 Graduation – By Amanda Clark On June 16, Woodgrove’s Class of 2016 was the 5th graduating class to walk the stage and accept their diploma. The ceremony was filled with anticipation as the chorus, …

(Be the first to comment)

Buckland Earns Degree In Medicine

6 Jul 2016

buckland

Molly Buckland, D.O., graduated from the West Virginia School of Osteopathic Medicine with a degree of Doctor of Osteopathic Medicine on May 28. While at WVSOM, Dr. Buckland received the Dr. Roland P. Sharp President’s Award and the James R. …

(Be the first to comment)

Adams Promoted To Lieutenant

6 Jul 2016

adamspromoted

Lt. James Adams, from Sterling and a Potomac Falls Halls Graduate, earned the promotion to the rank of Lieutenant. Adams is a Navy Week and Executive Outreach Planner for the Navy Office of Community Outreach in Millington, Tennessee. U.S. Navy …

(Be the first to comment)

Calendar

December 2016
Monday Tuesday Wednesday Thursday Friday Saturday Sunday
November 28, 2016 November 29, 2016 November 30, 2016 December 1, 2016 December 2, 2016 December 3, 2016

Holiday Open House

Notaviva Vineyards - Bluegrass Jam - FREE event

December 4, 2016

Holiday Open House

December 5, 2016 December 6, 2016 December 7, 2016 December 8, 2016 December 9, 2016

Christmas Market and Trolley Tours

December 10, 2016

Holiday Open House

13th Annual Purcellville Christmas Parade

Barrel Tasting Event Saturday

December 11, 2016

Christmas Market and Trolley Tours

December 12, 2016 December 13, 2016 December 14, 2016 December 15, 2016 December 16, 2016 December 17, 2016

Intro to Essential Oils

December 18, 2016
December 19, 2016 December 20, 2016 December 21, 2016 December 22, 2016 December 23, 2016 December 24, 2016 December 25, 2016
December 26, 2016 December 27, 2016 December 28, 2016 December 29, 2016 December 30, 2016 December 31, 2016

Family New Year’s Eve Celebration

January 1, 2017

New Year's Day Musikabend

Restore & Renew

Current Print Issue:
Sign up for our email newsletter:

Recent Comments

Steady and NoBull

Lifestyle

Farm Bureau President Hopes for Immigration Reform

5 Dec 2016

pvllehorsefarm

Virginia Farm Bureau President Wayne F. Pryor told county delegates at the organization’s annual convention in Hot Springs that immigration reform “is an issue that has been delayed too long.” He noted that: “Work will begin on the 2018 Farm Bill next year. This is the most complex federal legislation farmers face, and it typically takes at least two years …

(Be the first to comment)

Northern Virginia Chamber To Host Congressional Roundtable

5 Dec 2016

blueridge2

The Northern Virginia Chamber will host its annual Congressional Roundtable on Monday, December 12, from 3:00 to 5:00 p.m. at the Northern Virginia Chamber in Tysons (7900 Westpark Drive, Suite A550). The dialogue will cover several issues at the intersection of federal policy and business – federal spending, energy, trade policy, the sequestration and the effect on Northern Virginia, transportation, …

(Be the first to comment)

Ugly Christmas Sweater Fad Keeps Growing

30 Nov 2016

uglysweater

Since 2012, the Re-Love It consignment shop, at 138 N. 21st Street in Purcellville, has developed the reputation as the place to get your Ugly Christmas Sweater in the Metro D.C. area. In that time, Re-Love It has sold more than 3,000 vintage Ugly Christmas Sweaters.

(Be the first to comment)

Editorial

Grief and Greed

blueridge2

By Matthew Parse What would drive a single individual to cause so much emotional stress and financial burden on hundreds, if not, thousands of families? What would drive the Town …

Op-ed

Opinion: Terrorism, Debt, and China: Oh My!

blueridge2.jpg

– By Nick Reid world can be a very dangerous place sometimes, especially for a nation state such as the United States. Although danger is always present, the number and …

Metro Money Mess Pushing West

blueridge2.jpg

– By Delegate Dave LaRock (R-33rd) A local paper recently quoted Loudoun Board Chair Phyllis Randall as saying that in her observation “some of the concerns raised by the people …

Dear Editor

Vote No To the Minor Special Exception

catesbyproposal

We are a group of Loudoun County citizens who will be adversely affected if the board grants a special exception for the Catesby Farm property at your upcoming meeting. You …

It’s Our Right

catesbyproposal

On December 6, the Board of Supervisors is scheduled to vote on a “Minor Special Exception” proposal we submitted earlier this year concerning our Catesby Farm property. Unfortunately, our limited …

View From the Ridge

Broken Promises, Hidden by a Six-Foot Berm

blueridge2

By Andrea Gaines On August 9, 1825 at the age of 69, French military officer the Marquis de Lafayette was honored in Leesburg by former President James Monroe. The French-born …

Around Virginia

Warner Introduces Bill To Help Wells Fargo Victims Get Their Day in Court

blueridge2

U.S. Sen. Mark R. Warner (D-VA), a member of the Senate Banking Committee, introduced legislation to give Wells Fargo customers who were victims of a fraudulent account scheme their day in court. The bank was involved in a scandal this year after it was revealed that Wells Fargo employees secretly …

(Be the first to comment)

History’s Holy Places: Four Local Sites Worth Exploring This Fall

outandaboutloudoun

The Journey through Hallowed Ground is a 180-mile long, 75-mile wide trek from Gettysburg to Monticello, encompassing nine presidential homes and places, 18 national and state parks, and thousands of small and large historical sites. Dozens and dozens of these sites and related museums are short ride from just about …

(Be the first to comment)

Land Trust Receives Large Donation

land trust

On August 22, The Land Trust of Virginia received a $10,000 gift from the Sharon D. Virts Foundation, based in Herndon. The presentation of this grant was part of the Foundation’s official launch event, held at Selma Plantation in Leesburg. Notable speakers included Sharon D. Virts, FCiFederal Founder and Chair, …

(Be the first to comment)

Sports

Accepting Applications for Sports League Funding

30 Nov 2016

basketball

Purcellville is accepting applications from local organizations for its annual sports league funding program. Organizations must serve the Town of Purcellville area, have citizens of the Town of Purcellville as players, and provide a letter to the Town from the IRS confirming the organization’s tax exempt status in order to …

(Be the first to comment)

Woodgrove High Student Will Pursue Track and Field at George Mason

30 Nov 2016

woodgrove

Puneet Kaur of Woodgrove High School has signed a National Letter of Intent to continue her track and field career at George Mason University. Kaur has held the school record in shot put since her sophomore year and is looking to throw shotput, hammer, discus and maybe even the javelin …

(Be the first to comment)

Archives

  • +2016
  • +2015
  • +2014
  • +2013
  • +2012
  • +2011
  • +2010
  • +2009