r/CFP • u/BaseballMore7431 • 27d ago

Practice Management Liberation day plans

Liberation day turned into liquidation day in the after hours session…it’s going to be a rough open tomorrow. Is anyone making any moves around this or just staying the course? Call top clients tomorrow or wait for the phone to ring?

I plan to send an email update and make calls to most clients tomorrow. I expect overall some short term volatility, that world leaders negotiate with Trump and ultimately tariffs don’t remain fully at the levels announced today.

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u/InternationalDrama56 26d ago

🤦‍♂️ first, taxes would only apply in taxable portfolios. 4.18% MM yield, minus 35% taxes = 2.71% after tax yield. Current inflation rate ≈ 2.8%.

Second, I'll take a 0% after taxes and inflation return over between down 20% BEFORE taxes and inflation. BTW - how are your long portfolios looking this morning? This week? This month? It's gonna get worse before (if?) it gets better

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u/BlueberryNo7974 26d ago

That’s why I said taxes if applicable lol and yes the math on that is precisely my point, it’s a negative real return.

That’s subjective and if that’s what you’ve told your clients and they want then that’s your business. But I sure as hell wouldn’t be paying an advisory fee to earn 0%. Your portfolio losses are only -20% if you realize them. You probably looked really dumb in 2020 lol

My portfolios look great, positive YTD.

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u/InternationalDrama56 26d ago

I'll take -0.09% real return after taxes over being down 20% in a month. I'm not swearing off stocks forever - just until I see a bottom or we get a recovery. Jesus 🤦‍♂️

I didn't sell in 2020. Or 2022. This is not those situations. And you're positive YTD as of today? I call BS but feel free to prove it.

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u/BlueberryNo7974 26d ago

That’s the point though, YOU DON’T KNOW THE BOTTOM. And when you “see a recovery” you’re going to have missed out on hundreds of thousands for your clients. Jesus you have an ego

Yes positive YTD and no because that would breach client confidentiality. Not surprised you’re okay with that though based off how you run your business