Your Referrals Are Appreciated Now More Than Ever

Published Saturday, December 20, 2008 at: 7:00 AM EST

It’s relatively easy to succeed as an investor—or as a financial advisor—when the stock market is humming and all is right with the world. But during times like these, when the economy is uncertain, the value of smart decisions and good advice really makes itself felt.

We appreciate the trust you’ve placed in our firm by remaining committed to a long-term investment plan. Savvy investors realize that the stock market often rises and falls with prevailing economic conditions, and that keeping the faith in basic investment principles is likely to provide favorable results. Your investment plan is designed to have staying power, to take advantage of trends that, over time, have favored investors who don’t waver in the face of adversity.

Not long ago, much financial “advice” consisted of “hot” tips that were supposed to lead to a quick killing but could just as easily mean big losses. Today, many investors want a different kind of help, based on proven wealth management techniques that can help reach retirement goals without excessive risk. That approach, along with clear and constant communication, is the cornerstone of our partnership with you.

We are heartened and energized by the referrals to our firm. Now, more than ever, it’s important to do things the right way, and we’re committed to helping all of our clients, old and new, achieve their financial objectives.

This article was written by a professional financial journalist for Preferred NY Financial Group,LLC and is not intended as legal or investment advice.

An individual retirement account (IRA) allows individuals to direct pretax incom, up to specific annual limits, toward retirements that can grow tax-deferred (no capital gains or dividend income is taxed). Individual taxpayers are allowed to contribute 100% of compensation up to a specified maximum dollar amount to their Tranditional IRA. Contributions to the Tranditional IRA may be tax-deductible depending on the taxpayer's income, tax-filling status and other factors. Taxed must be paid upon withdrawal of any deducted contributions plus earnings and on the earnings from your non-deducted contributions. Prior to age 59%, distributions may be taken for certain reasons without incurring a 10 percent penalty on earnings. None of the information in this document should be considered tax or legal advice. Please consult with your legal or tax advisor for more information concerning your individual situation.

Contributions to a Roth IRA are not tax deductible and these is no mandatory distribution age. All earnings and principal are tax free if rules and regulations are followed. Eligibility for a Roth account depends on income. Principal contributions can be withdrawn any time without penalty (subject to some minimal conditions).

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