Have you ever considered how to ensure your financial accounts' safety? Let's discuss the importance of trusted contacts in maintaining financial security. The Finra Rule 2165 is specifically designed to protect individuals over 65 years old or with a mental disability. We will also cover common scams targeting seniors and why keeping your trusted contacts up-to-date is crucial. We will also share real-life examples that illustrate how trusted contacts can safeguard clients.FINRA Video for Trusted ContactNCFG - Blog Post on Trusted Contact

What is a fiduciary? This is a question that Richard Oring is frequently asked by his clients at New Century Financial Group.   When looking for an advisor, it's an important question to ask.A fiduciary is an individual or organization legally required to manage a person's assets for that person's benefit, not their own.   Being a fiduciary means a financial advisor is held to a higher standard when making decisions for his or her clients.Fiduciaries must follow "duty of care" and "duty of loyalty" - Rich explains what these terms mean and entail.It's also important to understand how your financial advisor is compensated - are the commission only, fee only, or fee-based (a combination of the two)?The important thing to remember when looking for a financial advisor is to ask questions.  This can be a confusing field, but your future is too important to simply make assumptions.  And a good financial advisor will make sure your questions are answered.You can always reach out to Richard Oring and his team at New Century Financial Group.  You can schedule an appointment from their website: https://ncfg.com/Or you can reach out directly to Rich:  [email protected] call him at  (609) 924-2049, extension 126.

With the market volatility we've experienced in 2022, many folks are looking at different types of investment vehicles.  One that Richard Oring's clients have been asking about lately is the I Bond.  Today, Rich explains what they are and more.I bonds are securities issued by the US Treasury, that are 20 year notes and continue paying interest for an additional 10 years, for 30 total.   They can be purchased electronically or by paper. Rich explains the differences, and the limits on what you can buy.The interest rate on I bonds is comprised of a Fixed Rate plus an Inflation Rate - and we go through how these numbers add up for you, using a specific example for illustration.These I Bonds are exempt from state and local taxes, and the interest can be used to help pay for qualified higher education expenses, with restrictions. Rich explains those.As with all financial decisions, your situation is unique.  Before making an investment, talk to your financial advisor, and/or CPA.  You can also research this topic more at https://treasurydirect.gov/You can always reach out to Richard Oring and his team at New Century Financial Group.  You can schedule an appointment from their website: https://ncfg.com/Or you can reach out directly to Rich:  [email protected] call him at  (609) 924-2049, extension 126.

There are many things you should consider when it comes to end-of-year tax planning, but today Rich and Jag are focusing on Tax Loss Harvesting.To understand tax loss harvesting, we will want to define terms.  Rich walks us through cost basis, capital gains (long and short term), capital losses (long and short term), carry-over losses, and the Wash Rule.Tax loss harvesting is when you take your investment losses for the year and use them to offset your investment gains, lowering your tax burden.  Also, in years where your losses more than offset your gains, you can carry that over many years, using $3,000 of losses each year.Rich walks us through the many benefits of tax loss harvesting, but also some of the pitfalls.  The Wash Rule comes into play here, harvesting is only for taxable accounts, and excess short-term trading can lead to headaches.If you want to know more about tax loss harvesting (this might be the year to use it), or anything related to your finances, you can reach Rich at New Century Financial Group:https://ncfg.com/By email at [email protected] by phone at (609) 924-2049, extension 126,

How can I tell how well my portfolio is performing?   Through this podcast, it's Richard Oring's goal to educate listeners about managing their money.  Today, he and Jag look at different ways to evaluate the performance of your portfolio.First, it's important to understand your strategy and overall objective - is it retirement, savings or something else?Next, we look at total return- and the elements that come together to give you a total return. Then, what time periods do we use to evaluate total return?  And what benchmarks can we use in this analysis?Rich then breaks down some market turns in a way for us to understand, including standard deviation, beta, alpha, R-squared, Sharpe Ratio and Sortino Ratio.More: https://www.investopedia.com/https://seekingalpha.com/To talk to Rich thee terms or anything related to your financial future, reach him at (609) 924-2049, extension 126,  go online to https://ncfg.com/, or send Rich an email.  [email protected].

Do I need a financial advisor if I'm in my 20's? There's a stereotype that financial advisors are only for older adults - either in or approaching retirement.  And that's simply not true.  Today, Richard Oring of New Century Financial Group sits down with Jag to talk about why young adults need a financial advisor.Having a financial advisor early in your working years can be like having a coach who gets you into strong practices and habits for your entire career.   Through this relationship, you can talk about everything from debt and budgeting to job offers, life transitions, and unforeseen circumstances. Rich also talks about how he structures his planning fees to make plans affordable for younger clients.Want help planning your financial future no matter what your age?  Reach Rich at [email protected], or give him a call at (609) 924-2049, extension 126

Investing in bonds can be an important part of your overall portfolio.  But many investors find them confusing.  Today, Richard Oring and Jag break down what you need to know.Stocks are pretty straightforward - if you buy a stock, you own a percentage of a company. Bonds, on the other hand, mean you are buying part of a company's debt. Rich explains.While bonds aren't for everyone, they do have some advantages, including diversification, capital preservation, and income generation.There are many types of bonds, including corporate bonds, municipal bonds, and treasury securities.  Typically, they are offered in $1,000 increments.Rich explains the different terms related to bonds, including coupon rate, maturity, yield to maturity, callable, yield to call, yield to worst, duration, discount, and premium.We also cover the different risks involved with bonds - interest rate risk, reinvestment risk, default risk, and more.Mentioned in this epsiode: https://treasurydirect.gov/To talk to Rich about bonds or anything related to your financial future, reach him at (609) 924-2049, extension 126,  go online to https://ncfg.com/, or send Rich an email.  [email protected].

There are many loans available for homeowners who want to renovate their homes.  Today, Richard Oring of New Century Financial Group is joined by Bobby Dmuchowski, VP of Mortgage Lending at Guaranteed Rate.Bobby explains the advantages of going to a mortgage broker, as opposed to going to your bank.   He also talks about the differences between HELOC (Home Equity Line of Credit) and renovation loans.We cover Fannie Mae and HFA loans, fixed vs. variable rates, closing costs, underwriting, and how funds are dispersed.Rich also cautions our listeners to look at IRS publication 936, which deals with home mortgage interest deduction.  You can view that here: https://www.irs.gov/forms-pubs/about-publication-936.United States Veterans have a number of options available to them through the VA - with much more flexibility than civilians have access to.  Bobby, Rich, and Jag explain that.There are many types of loans out there, including VA, FHA, Convention, Nonconforming, and more.    And there are also many ways, with the advent of technology, to get your loan. Depending on your preference, you can coordinate over the phone, text, or online.Contact Bobby via cell or text: (908) 295-8609Contact Richard Oring at New Century Financial Group:609-924-2049, extension 126, or by email at [email protected]: https://ncfg.com/

As the tax landscape ever changes, it becomes more important for your CPA and Financial Planner to collaborate.In this episode of the Stuff About Money podcast, Erik Garcia, CFP®, and Xavier Angel, CFP® are joined by fellow financial advisor Richard Oring and CPA Douglas Ziegler, to discuss why you want two of your most important advisors to be in communication.Are you minimizing capital gain taxes? How many opportunities are you missing on your tax return? You also may be surprised what these two seasoned financial professionals say they wish they would have known about money when they were younger. School is in session.

Today, Rich and Jag welcome Xavier Angel, out of New Century Financial Group's New Orleans office.   Rich and Xavier thought Black History Month would be a good time to address the issue of financial literacy in the Black community.Xavier cites the percentage of households below the poverty line for White., Black, and LatinX households. The differences are stark.   How did we get here?  As a Black financial advisor, Xavier can cite examples of systematic inequalities that he's witnessed firsthand.  Rich and Xavier get along very well because of similar values - both were raised to give back to the less fortunate.  In fact, Rich cites a video about the importance of giving, as part of Home Depot's onboarding process. (and not being recognized for it).  You can see that video here: https://vimeo.com/146029996 Xavier discusses financial literacy - conversations that he's having with all clients, regardless of race or ethnic background.   This includes the importance of having an emergency fund, the power of home ownership, and the need to make sure your credit report is accurate.If you'd like to connect with Rich in New Jersey, or Xavier in Louisiana, feel free to reach [email protected]@ncfg.comOr call 609-924-2049 - Xavier at extension 505 or Rich at extension 126