At Warren Street, we’re always growing—sometimes that means welcoming new faces, and other times it means welcoming back familiar ones. If you’ve been with us for a while, you might recognize Phillip Law, CFA, and we’re excited to share that he’s officially rejoined the team!
Phillip is stepping into a new role as Senior Portfolio Manager. In this spotlight, we’ll help you get to know him a bit better—both personally and professionally.
What drew you back to Warren Street?
Warren Street has always felt like home. It was my first internship and job, and I developed an affinity for the firm’s mission and people. Even after I left to expand my horizons, I often daydreamed about returning with a newfound skillset. I’m grateful for the opportunity to come back, and I’m ready to apply what I’ve learned in my new role.
How has your career evolved since your last time with us?
During my last role at Capital Group, I really got my hands dirty analyzing the performance of institutional client portfolios using data and storytelling. Most importantly, this experience significantly boosted my confidence and helped me buy into the following mindset: as long as I put my heart into what I do and try to help others, I can add value even at one of the world’s largest investment firms. Now, I’m returning with stronger analytical skills and the self-confidence to make change.
What excites you most about your new role as Senior Portfolio Manager?
What are your top priorities for the next 6–12 months?
A lot has changed since I was last at the firm for both myself and Warren Street. Once I’m acclimated, my immediate priorities will be in three areas: 1) upscaling portfolio management processes and decisions 2) expanding the number of solutions Warren Street has in the marketplace and 3) producing more capital markets related content.
What’s one piece of financial advice you wish more people followed?
There’s one quote I heard from a Portfolio Manager at Capital Group that I think about often: “Lean Into the Pain, Let Go of the Joy.” Human psychology is wired to avoid leaning into markets during turbulent times. Meanwhile, human behavior makes it challenging for investors to trim positions when their investments feel euphoric. In my opinion, this quote not only humanizes the idea of “buy low, sell high,” but also serves as concrete advice for building a durable, long-term portfolio.
Favorite way to unwind after a long day?
I feel most refreshed when I’m physically active, whether it be swinging my badminton racket or shooting jump shots on the court. Weekly cooking sessions with family and grandparents also have a special place in my heart..
What’s one fun or unexpected fact people might not know about you?
I have a deep fascination with animals and enjoy listening to simple animal facts or seeing these creatures in their natural habitats. Maybe this stems from my childhood wonder of dinosaurs, but I’m considering visiting all major zoos in the US as a bucket list item.
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We’re thrilled to have Phil back on the team, especially in a role where his expertise and perspective will directly benefit our clients. Be sure to say hello if you see him around—or reach out if you want to talk shop about the markets!
Jennifer Battles
Director of Operations, Warren Street Wealth Advisors
Investment Advisor Representative, Warren Street Wealth Advisors, LLC., a Registered Investment Advisor
The information presented here represents opinions and is not meant as personal or actionable advice to any individual, corporation, or other entity. Any investments discussed carry unique risks and should be carefully considered and reviewed by you and your financial professional. Nothing in this document is a solicitation to buy or sell any securities, or an attempt to furnish personal investment advice. Warren Street Wealth Advisors may own securities referenced in this document. Due to the static nature of content, securities held may change over time and current trades may be contrary to outdated publications. Form ADV available upon request 714-876-6200.
Statistics show that nearly 33% of Americans have faced some identity theft attempts in their lives, and experts estimate there is a new case of identity theft every 22 seconds. As financial professionals, one of our primary goals is to help our clients create a financial strategy and protect their wealth. In today’s digital age, identity theft threatens your finances, so it’s crucial to understand the risks and take proactive measures.1
This blog aims to equip you with practical strategies for protecting your personal and financial information with the goal of maintaining your financial well-being.
The most common types of identity theft are1:
Credit card fraud
Government documents or benefits fraud
Loan or lease fraud
How Identity Theft Impacts Your Finances
The financial hardships caused by identity theft can last for months or even years after your personal information is exposed. Depending on the type of data identity thieves obtain, the recovery process can involve several hurdles. Victims often need to dispute fraudulent activities in their credit files and work to restore their good credit. This may include cleaning up and making changes to compromised bank accounts.2
If an identity thief uses your Social Security number to obtain employment, you may need to work with the Social Security Administration. Similarly, if you become a victim of tax refund identity theft or an identity thief’s income makes it appear you are under-reporting your income, you may need to work with the IRS.2
Identity theft involving sensitive, personally identifiable information like your Social Security number can have long-lasting effects. Thieves may wait months or even years to use your information, or they might sell it on the dark web, requiring you to stay vigilant indefinitely. Legal fees and other costs could add to the financial impact if your identity theft issue is complex. Some victims even need to seek government assistance during recovery, highlighting the potential magnitude of identity theft hardships.2
Steps You Can Take to Help Protect Yourself
It can be difficult for victims to deal with identity security issues because bad actors are becoming more sophisticated all the time. You can use technology-enabled safeguards to help protect your identity and personal data, such as antivirus protection software, password managers, identity theft protection, virtual personal networks, and two-factor authentication on devices and accounts. There are also other actions you can take to help manage the risk of becoming a victim, including:
1. Check your mail often.
A low-tech way criminals can steal your identity is to simply take bank or credit card statements, utility bills, health care or tax forms, or pre-approved credit card offers out of your mailbox. So, don’t let your mail sit uncollected too long. Also, if you are going away, have a trusted neighbor bring in your mail or put your mail on hold with the post office.3
2. Review credit card and bank statements regularly.
By reviewing your credit card and bank statements, you may be able to spot any suspicious activity. Thieves with your credit card number or bank account information could make small purchases to see if they can get away with it. These transactions can go unnoticed. Thieves may try to make large purchases if they get away with minor ones.3
3. Freeze your credit.
In some cases, you may want to consider freezing your credit file so no one can look at or request your credit report. That means no one can open an account, apply for a loan, or get a new credit card while your credit is frozen. Remember, a credit freeze applies to you as well. To get started, contact each of the three major credit reporting agencies. In some instances, credit freezes are free and won’t impact your credit score.3
4. Don’t use the same password twice.
According to the Federal Trade Commission (FTC), secure passwords are longer, more complex, and unique. Many people use the same password for multiple accounts, which could be problematic. You should consider creating different passwords for various accounts and avoid using information related to your identity, such as the last four digits of your Social Security number, your birthday, your initials, or parts of your name.3
The FBI and the National Institute of Standards and Technology have issued guidelines stating that passwords should consist of at least 15 characters because these are more difficult for a computer program or hacker to crack. Regarding security questions, the FTC’s guidelines suggest questions that only you can answer; avoid information that could be available online, such as your ZIP code, city of birth, or mother’s maiden name.3
5. Consider shredding documents with personal information.
As stated earlier, not all identity theft is high-tech. Old-fashioned dumpster diving might sound like a thing of the past, but it still happens. Consider buying a household shredder and destroying sensitive paperwork, such as credit card and bank statements, utility bills, and other documents containing personally identifiable information.3
6. Opt out of prescreened credit card offers.
Credit card companies often send prescreened offers to open new accounts, and criminals can intercept these mailed or emailed offers and open accounts in your name. One way to help avoid a potential identity theft issue is to opt out of receiving these offers.2
Day-to-Day Security Best Practices
Small steps can make a big difference when it comes to keeping your information safe. Here are a few suggestions, starting with cleaning out your wallet.
1. Keep your Social Security card at home in a safe location—not in your wallet.
Those nine digits can help an identity thief to obtain loans or credit card accounts in your name. A bad actor could also use your Social Security number with the IRS.
2. Leave checks and deposit slips at home.
Consider leaving checks and deposit slips at home. These items may contain more information than you think, including your name, address, bank name, routing number, and account number.
3. Shred and trash any password cheat sheets.
Scraps of paper with sensitive information, such as PINs and passwords, can be risky, so dispose of any you have in your wallet after noting them in a password manager at home
4. Limit the number of credit cards in your wallet.
It may be best to limit the number of credit cards in your wallet. The same goes for excess cash and gift cards.
5. Bypass the PIN at the gas pump.5
One of the most common schemes is when criminals install a skimming device directly over the credit card slot at a gas pump. These skimmers capture and store your card data when you insert or swipe your card. If something looks off, don’t use that pump. Also, if you use a debit card to pay for your gas, bypass the PIN if possible and use your zip code instead. That may prevent someone from stealing your PIN using a pinhole camera.
Dispose of Old Devices Safely
Improper disposal of old digital devices is a key but often overlooked aspect of identity theft. Simply deleting files may not be enough on some digital devices, as thieves may be able to recover the data. Therefore, safe disposal is critical. Many communities have secure electronics recycling events where devices can be disposed of. However, it’s important to note that different devices and storage media types may require different disposal methods.
Identity Theft Protection Services
Identity theft protection services offer a range of features designed to detect identity theft, alert you to identity theft, and help you recover from identity theft. These services typically monitor credit reports, dark web activity, and public records for signs of fraudulent use of personal information. When suspicious activity is detected, they alert the user and provide next steps. While these services can be helpful, their effectiveness can vary. However, these services can be a valuable first step for those who lack the time or expertise to monitor their credit and personal information.
What to Do if Your Identity Has Been Stolen
You may not know that you have been a victim of identity theft immediately when it happens, but there are warning signs you can look out for, such as:6
Bills for items you did not buy
Debt collection calls for accounts you did not open
Information on your credit report for accounts you did not open
Denials of loan applications
Mail stops coming to or is missing from your mailbox
If you are a victim of identity theft, you may want to place fraud alerts or security freezes on your credit reports. A fraud alert requires creditors to verify your identity before opening a new account, issuing an additional card, or increasing the credit limit on an existing account based on a consumer’s request.
Pro tip: When you place a fraud alert on your credit report at one of the nationwide credit reporting companies, it must notify the others.7
Protecting your identity is an integral part of maintaining your overall financial health. As financial professionals, we believe safeguarding your personal information can be as crucial as making sound investment decisions. By implementing these preventive measures and staying vigilant, you can help manage the risk of becoming a victim of identity theft. Remember, your financial security encompasses every aspect of your financial life.
If you have any concerns about identity theft or would like to discuss how it fits into your broader financial strategy, don’t hesitate to contact us. We’re here to help provide you with information that can help improve your personal finances.
Emily Balmages, CFP®
Director of Financial Planning, Warren Street Wealth Advisors
Investment Advisor Representative, Warren Street Wealth Advisors, LLC., a Registered Investment Advisor
The information presented here represents opinions and is not meant as personal or actionable advice to any individual, corporation, or other entity. Any investments discussed carry unique risks and should be carefully considered and reviewed by you and your financial professional. Nothing in this document is a solicitation to buy or sell any securities, or an attempt to furnish personal investment advice. Warren Street Wealth Advisors may own securities referenced in this document. Due to the static nature of content, securities held may change over time and current trades may be contrary to outdated publications. Form ADV available upon request 714-876-6200.
This blog is for informational purposes only and is not a replacement for real-life advice. We encourage you to consult your tax, legal, and accounting professionals if you believe identity theft involves using your tax records.2
We’re thrilled to announce our newest partnership — Warren Street is now the proud sponsor of professional pickleball player Connor Garnett!
At Warren Street, we’re passionate advocates of pickleball — not just as a sport, but as a community builder. It’s fun, fast-paced, and brings people together in meaningful ways. That’s why this partnership is about more than just branding — it’s about connection and creating new ways to engage with our clients and community. We also believe that health is wealth, and pickleball perfectly aligns with our commitment to well-being and active living.
Why Connor?
Connor brings excellence, discipline, and a strong sense of purpose to the court — qualities we admire and live by in our work with clients. He’s not only a rising star in the pro pickleball circuit, but also someone who embodies the same values we hold at Warren Street: integrity, passion, and fun.
“Connor represents the kind of energy and ambition we love to support — both on and off the court. He’s not just a talented athlete; he’s someone who genuinely connects with people, which makes him a great fit for our community. We’re excited for what’s ahead.”
— Blake Street, Founding Partner, Warren Street Wealth Advisors
You’ll see Connor repping the Warren Street brand at tournaments across the country — wearing our logo proudly on his jersey, engaging with fans and our clients, and even making special appearances at future events. Whether it’s a VIP experience at a PPA tournament or a chance to learn from him on the court, this partnership opens the door to exciting opportunities for our community.
What’s Ahead
Client appreciation events and “Play with the Pro” sessions featuring Connor
Exclusive access to box suites at major SoCal pickleball tournaments
Collaborative content on social media and beyond
And more exciting updates to come…
At Warren Street, we believe financial planning should be personal — and a little more fun too. We’re excited to welcome Connor Garnett to the Warren Street family and stay tuned for more exciting updates from the court and beyond.
JenniferLa
Director of Sales & Marketing, Warren Street Wealth Advisors
Investment Advisor Representative, Warren Street Wealth Advisors, LLC., a Registered Investment Advisor
The information presented here represents opinions and is not meant as personal or actionable advice to any individual, corporation, or other entity. Any investments discussed carry unique risks and should be carefully considered and reviewed by you and your financial professional. Nothing in this document is a solicitation to buy or sell any securities, or an attempt to furnish personal investment advice. Warren Street Wealth Advisors may own securities referenced in this document. Due to the static nature of content, securities held may change over time and current trades may be contrary to outdated publications. Form ADV available upon request 714-876-6200.
https://warrenstreetwealth.com/wp-content/uploads/2025/05/Warren-Street-Wealth-Connor-Garnett.png10801080Jennifer Lahttps://warrenstreetwealth.com/wp-content/uploads/2014/11/Warren_Street_logo-01.svgJennifer La2025-05-08 07:31:002025-05-07 15:31:24Warren Street is Now the Official Sponsor of Pro Pickleball Player Connor Garnett!
Our team just keeps growing! We’re excited to introduce you to another key addition to the Warren Street Wealth Advisors family. If you missed our last introduction, you can catch up here.
Today, we’re thrilled to introduce you to Kristiano Costeniero, our new Strategic Advisor. In this interview, you’ll get to know Kristiano and learn how his experience and commitment to personalized financial strategies will help guide you in achieving your financial goals. We’re confident that Kristiano’s dedication will be instrumental in providing exceptional service to our clients!
What inspired you to pursue a career in wealth management?
I fell into the career right out of college. I was finishing up a degree in International Business at Pepperdine, and a roommate of mine mentioned that his father had started an Ayco (now Goldman Sachs Ayco) branch in California. This roommate thought I should seriously consider financial planning and that I would be a great fit for it. I applied, only to find out he hadn’t even told his dad I was applying! I ended up interviewing and getting the job, and almost 22 years later, the rest is history!
What do you enjoy most about working with clients?
How do you help clients navigate complex financial situations or life transitions?
Through any life transition, it’s important to have a counselor who will not only give good advice but also knows you and your family to guide you through the best decisions for you. No two situations are identical, but having an advisor who has worked through almost any issue you could imagine brings experience that no one person could have on their own. Besides technical knowledge, just being available and consistent is really the key to helping clients navigate their biggest and most nuanced questions.
What’s one piece of financial advice you believe everyone should follow?
My priority as an advisor is to make sure you are planning for YOU first. Children, relatives, friends, or anyone else you might consider as your financial beneficiaries almost always have the time and resources to make financial decisions on their own, even if you want to make them a priority in your life. I am here to make sure you take care of yourself first, so that you can then plan for your beneficiaries in a way that does not impact your ultimate financial goals.
How does Warren Street align with your personal values?
When interviewing firms to transition my professional career, my first question to everyone was, “Is your firm a good fit for my clients?” Warren Street clearly leads with a “what’s best for the client first” mentality, which is important when working with people who count on your advice to be unbiased and in their best interest.
What excites you most about joining Warren Street?
The flexibility of the financial platform allows clients to implement strategies in their best interest rather than being limited by a captive firm. There are so many strategies that can be implemented in a myriad of ways that just aren’t available because some firms won’t allow them. I now have the ability to implement solely based on what is best for clients, without platform limitations.
Who or what motivates you?
Having life experiences is my number one motivator. I absolutely love making memories with my family and kids, and I also love being able to help clients do the same.
What’s something clients might be surprised to learn about you? Provide 3 fun facts.
I have played music all my life, both trumpet and now mostly drums.
I love all kinds of traveling, from overlanding/camping with my family to cross-country motorcycling with friends, and everything in between.
The only sport I have continuously played, without a break since age 10, is ice hockey—despite growing up in the desert of Southern California!
We hope this interview gives you a deeper insight into how Kristiano will be guiding you on your financial journey. We’re thrilled to have him on board and can’t wait for you to benefit from his experience and commitment to your success!
Jennifer Battles
Director of Operations, Warren Street Wealth Advisors
Investment Advisor Representative, Warren Street Wealth Advisors, LLC., a Registered Investment Advisor
The information presented here represents opinions and is not meant as personal or actionable advice to any individual, corporation, or other entity. Any investments discussed carry unique risks and should be carefully considered and reviewed by you and your financial professional. Nothing in this document is a solicitation to buy or sell any securities, or an attempt to furnish personal investment advice. Warren Street Wealth Advisors may own securities referenced in this document. Due to the static nature of content, securities held may change over time and current trades may be contrary to outdated publications. Form ADV available upon request 714-876-6200.
https://warrenstreetwealth.com/wp-content/uploads/2022/05/Kristiano-Costeniero-Headshot.png1030824Jennifer Battleshttps://warrenstreetwealth.com/wp-content/uploads/2014/11/Warren_Street_logo-01.svgJennifer Battles2025-04-11 08:49:302025-04-11 09:09:07Meet the Team: Kristiano Costeniero
Tax season isn’t the most joyful time of year, but it’s certainly one of the most important. With the filing deadline fast approaching, here’s a rundown of the latest tax updates to help you maximize deductions, avoid penalties and keep more of your hard-earned money. Plus, we’re keeping an eye on the big tax changes that might be passed down in Washington later this year.
A couple of quick notes before we dive in. If you tend to file your own taxes, you may be able to file for free, thanks to the expansion of the IRS Direct File program. Previously a pilot program, it’s now available in 25 states, giving more people access to an easy and cost-free way to submit their returns. Check the website to see if you are eligible.
Note: There’s been a bit of confusion about the Direct File program with the head of the new Department of Government Efficiency, Elon Musk, posting on social media that it had been “deleted.” However, as of now, the website is still live.
More taxpayers are facing IRS penalties for underpayment, often due to freelance income where taxes aren’t automatically withheld. If you’re facing a penalty for underpayment, take the opportunity this tax season to adjust your withholding on W-4 forms if you’ve underpaid. If you earn income outside of an employer, make a plan to get those estimated payments in on time.
Inflation-Adjusted Tax Changes
Some things in life are certain: death, taxes … and annual adjustments due to inflation. The IRS has once again made incremental shifts to income thresholds for tax brackets. You may find yourself in a different bracket this year, potentially changing how much you pay in income and capital gains taxes.
The standard deduction has also gone up, making it even more attractive for most filers to skip itemizing and opt for the automatic deduction:
$14,600 for single filers and those married filing separately
$21,900 for heads of household
$29,200 for married couples filing jointly
Additional deductions apply for seniors (65+), with $1,550 extra per person for joint filers and $1,950 extra for single filers
IRA contribution limits: $7,000, with an additional $1,000 catch-up contribution for those 50+
401(k) contribution limits: $23,000, with a $7,500 catch-up contribution for those 50+
While 401(k) contributions for 2024 are closed (unless you are self-employed), you can still make 2024 contributions to an IRA until April 15, 2025. And if you’re thinking long-term, now’s a great time to kickstart your 2025 contributions.
Health Savings Accounts (HSAs)
For those enrolled in a high-deductible health plan (HDHP), HSAs remain one of the best ways to save on taxes while covering medical expenses. Contribution limits have increased to $4,150 for individuals and $8,300 for families, with an additional $1,000 catch-up for those 55+.
Gift and Estate Tax Exemptions
If you’re planning to pass on wealth to loved ones, here’s what you should know:
The annual gift tax exclusion is $18,000 per recipient in 2024, increasing to $19,000 in 2025.
While it’s too late to make a tax-free gift for 2024, major changes could be coming in 2026 when current exemptions are set to expire.
Bought an EV? Don’t Forget to Report It
Electric vehicles are becoming increasingly popular. In fact, the number of EVs on the road rose more than 65% in 2024. Government incentives are a key factor driving adoption, including up to $7,500 in tax credits buyers may take right at the dealership. If you were one of them, the IRS requires that you prove eligibility for this discount by reporting your purchase on your tax returns. To do so, you’ll need to file Form 8936, Clean Vehicle Credits, and provide your vehicle’s VIN.
Selling Online? Expect a 1099-K
Gig sellers and casual resellers, beware of IRS reporting obligations. If you sold goods online in 2024 on platforms like eBay, StubHub, or Etsy, you may receive a 1099-K tax form if your sales exceeded $5,000. Previously, the threshold to receive a 1099-K was $20,000, but that threshold is dropping drastically. In 2025, it’s scheduled to fall to $2,500.
What’s Coming in 2025 and Beyond?
One of the biggest potential tax shake-ups in recent years is on the horizon: The first Trump Administration’s Tax Cuts and Jobs Act (TCJA) of 2017 is set to expire after 2025. This means major changes could be coming, including:
A decrease in the standard deduction
A reduction in the estate tax exemption by half
Tax brackets and rates reverting to higher pre-TCJA levels
A reduction in the Child Tax Credit from $2,000 per child in 2025 to $1,000 per child in 2026.
Eliminating the $10,000 cap on state and local tax (SALT) deductions
Change to the alternative minimum tax income threshold.
The current administration appears ready to act, suggesting it will work with Congress to extend the TCJA. However, nothing will be certain until changes are made to the tax law.
With so many possible changes in play, staying ahead of tax law updates is more important than ever. We can help you keep an eye on legislative developments and adjust your planning as necessary to make the most of your tax situation. Reach out with any questions you might have. ether a disaster plan of your own, reach out and we can help.
Emily Balmages, CFP®
Director of Financial Planning, Warren Street Wealth Advisors
Investment Advisor Representative, Warren Street Wealth Advisors, LLC., a Registered Investment Advisor
The information presented here represents opinions and is not meant as personal or actionable advice to any individual, corporation, or other entity. Any investments discussed carry unique risks and should be carefully considered and reviewed by you and your financial professional. Nothing in this document is a solicitation to buy or sell any securities, or an attempt to furnish personal investment advice. Warren Street Wealth Advisors may own securities referenced in this document. Due to the static nature of content, securities held may change over time and current trades may be contrary to outdated publications. Form ADV available upon request 714-876-6200.
https://warrenstreetwealth.com/wp-content/uploads/2025/03/Tax-Consideration-for-2024.png10801080Emily Balmages, CFP®https://warrenstreetwealth.com/wp-content/uploads/2014/11/Warren_Street_logo-01.svgEmily Balmages, CFP®2025-03-17 09:44:502025-03-17 09:47:57Tax Considerations for 2024: What You Need to Know Before Filing
These past two weeks, wildfires swept through Southern California, devastating communities and forcing thousands to evacuate. The fires have been described as some of the worst in California’s history, fueled by dry conditions and powerful winds. At least 29 people have died in the fires across the Los Angeles area and more than 15,000 structures have burned across 40,500 acres.s. Our hearts go out to all who have been affected during this challenging time.
Extreme weather events like these seem to be becoming more frequent. While we can’t control disasters, we can prepare.
With that in mind, let’s consider a few time-tested steps to help you proactively safeguard your financial affairs.
1. Organize Your Financial Information
In the event of a disaster, access to your financial information will help you work with insurance companies, apply for disaster relief, and keep up with everyday bills.
Store important documents in a waterproof safe, a safety deposit box, or in the cloud for easy access during a disaster. Incidentally, make sure you aren’t the only person who knows where the information is.
Ensure you have access to the following:
Tax statements, which you’ll need to apply for FEMA disaster assistance
Insurance policies
Proof of income, such as pay stubs
Housing payments
For a more detailed list, check out the financial preparedness checklists available from FEMA.
2. Keep Cash on Hand for a Crisis
If you don’t already have an emergency savings account, consider starting one you can tap into in a crisis. Aim to save three to six months’ worth of expenses. Still, during a disaster, it may be difficult—or even impossible—to take a quick trip to the bank. So keep a small amount of cash at home in case credit cards and local ATMs don’t work in an emergency and you need to buy food, fuel, or other supplies.
3. Have the Right Insurance
Make sure you have appropriate homeowner’s or renter’s insurance.
A homeowner’s policy generally covers your dwelling and other structures, personal property, personal liability, and medical protection. It also typically offers loss-of-use compensation if you need to relocate temporarily. Renter’s insurance should provide roughly the same coverage except for protection for structures, which is a landlord’s responsibility.
If you are a business owner, make sure to have business insurance to protect your business property and employees.
Importantly, neither homeowner’s nor business insurance cover flooding or earthquakes. If either are a possibility in your area, consider purchasing separate policies to cover each if such policies are available. (In some particularly risky areas, earthquake and flood damage coverage may be cost-prohibitive or otherwise unavailable.)
4. Inventory Your Property
Maintain a detailed inventory of your house to help you prove the value of items you own that may be lost or damaged during a disaster. An up-to-date inventory can help you determine how much insurance to purchase, and it can speed the insurance claim process. It can also provide the documentation needed to deduct losses on your tax return.
Take photos or videos to help you record your belongings and where appropriate, write down descriptions. For higher priced items, add as much detail as you can. For instance, instead of simply listing “camera,” note the specific model number and the year you bought it. Also consider having especially valuable items appraised. There are often local services that can help you create audiovisual inventories or even apps that can help keep you organized. Store your inventory and appraisal documents with your other important financial documents.
What To Do After a Disaster
If disaster strikes, consider taking a bit of time to yourself before springing into action, if that’s possible. Grieving the losses you’ve endured is an important step in the recovery process, and acknowledging your emotions may take precedence over the financial harm done.
Once you’re ready, contact your insurance company to report the damage. Document and prepare a list of damaged items, and keep the items, if possible, until a claims adjuster has visited.
You’ll also want to hang on to receipts for expenses you incur, such as supplies, repairs, and lodging if you can’t stay in your home. These expenses may be covered by insurance.
If you can’t stay at home, notify your utility providers and have them pause or discontinue services. You’ll still be on the hook to pay certain bills after a disaster. Prioritize paying your insurance premium and mortgage, which you must pay even if your house is damaged. If it becomes difficult to pay debts, including your credit card bill, contact your creditor who may be willing to work with you on a payment plan.
No one expects to be on the receiving end of a life-changing disaster. But being prepared can help ensure you can pick up the pieces more quickly. If you have any questions about putting together a disaster plan of your own, reach out and we can help.
Emily Balmages, CFP®
Director of Financial Planning, Warren Street Wealth Advisors
Investment Advisor Representative, Warren Street Wealth Advisors, LLC., a Registered Investment Advisor
The information presented here represents opinions and is not meant as personal or actionable advice to any individual, corporation, or other entity. Any investments discussed carry unique risks and should be carefully considered and reviewed by you and your financial professional. Nothing in this document is a solicitation to buy or sell any securities, or an attempt to furnish personal investment advice. Warren Street Wealth Advisors may own securities referenced in this document. Due to the static nature of content, securities held may change over time and current trades may be contrary to outdated publications. Form ADV available upon request 714-876-6200.
Since joining the Warren Street team in April 2023, Jennifer “JB” Battles has quickly proven herself as an invaluable asset to the team, leading with dedication, innovation, and a strong focus on operational excellence. Her journey to becoming our new Director of Operations has been nothing short of impressive, and we’re excited to see her continue making an impact in this role. For those who missed JB’s “Meet the Team” blog last year, be sure to check it out to learn more about her background and the strengths she brings to the team.
In this interview, we take a deep dive into JB’s vision for the future, her goals as Director of Operations, and how she plans to enhance the client experience. Get ready to be inspired by her leadership journey and her commitment to driving positive change for our clients and our team!
What are you most excited about in this new role?
How has your experience so far prepared you for this new role? What key lessons have you learned along the way?
I bring experience from a wide range of businesses, all with one thing in common: people. They are at the heart of everything we do. The experience of satisfying clients and creating a work atmosphere conducive to growth has best prepared me for this new role. These simple truths have shaped me and continue to influence how I lead: treat others the way you’d like to be treated, leave people better than you found them, and always leave them with a smile.
As Director of Operations, what are your top priorities for the year?
Continue to cultivate a team atmosphere. Build a cross-functional team by providing members with opportunities to expand their reach. Optimize operational processes.
How do you see your role impacting the client experience, and what changes do you plan to implement to enhance it?
As Director of Operations, I have the opportunity to enhance our client experience by implementing changes that lead to seamless onboarding, efficient client service, and strengthened client retention. Our organization is growing, our team is growing, but our core values remain the same.
What does “clients’ best interest first” mean to you, and how do you ensure that mindset is reflected in operations?
Putting a client’s best interest first means stepping into their shoes, giving them the floor, and allowing them to be heard. Our clients deserve our very best, so we can meet their needs exactly where they are each time we serve them.
What advice would you give to others looking to grow in their careers and take on leadership roles?
Learn, listen, and lean in. When you have the opportunity to learn from others—take it. If someone with more experience is speaking—listen. When a project seems difficult or out of reach—lean in.
Please join us in congratulating JB on this well-deserved promotion, and we wish her the very best as she leads us into an even brighter future!
JenniferLa
Director of Sales & Marketing, Warren Street Wealth Advisors
Investment Advisor Representative, Warren Street Wealth Advisors, LLC., a Registered Investment Advisor
The information presented here represents opinions and is not meant as personal or actionable advice to any individual, corporation, or other entity. Any investments discussed carry unique risks and should be carefully considered and reviewed by you and your financial professional. Nothing in this document is a solicitation to buy or sell any securities, or an attempt to furnish personal investment advice. Warren Street Wealth Advisors may own securities referenced in this document. Due to the static nature of content, securities held may change over time and current trades may be contrary to outdated publications. Form ADV available upon request 714-876-6200.
https://warrenstreetwealth.com/wp-content/uploads/2023/04/Jennifer-Battles-2023-Headshot.png1030824Jennifer Lahttps://warrenstreetwealth.com/wp-content/uploads/2014/11/Warren_Street_logo-01.svgJennifer La2025-01-09 08:57:002025-01-09 09:11:14Leading the Way: JB’s Journey to Director of Operations
As the year winds down, the hustle and bustle of the season can leave little room for financial reflection. But taking some time to review your finances now can help you close out the year on a strong note—and get your new year off to a great start.
Here are some key items to consider before December 31 rolls around:
Unstick Your Cash … and Put It to Work
We all try to make the best decisions we can around money, but we’re not perfect. Despite our best efforts, we can miss things from time to time.
Consider the “flypaper effect.” Jason Zweig, of The Wall Street Journal,uses the term to describe how money has a tendency to stick where it lands, even when we had other ideas for where it should end up. For many, this can happen when rolling over their employer-sponsored 401(k) retirement account into a personal IRA. According to research from Vanguard, nearly a third of savers who transferred their 401(k) balances into IRAs in 2015 still had those funds sitting in cash seven years later. This inertia can be costly. Vanguard estimates that cash-heavy IRAs cost Americans $172 billion annually in missed growth opportunities.
As the end of the year approaches, take some time to review all your accounts to make sure all your savings have landed where you wanted them.
It’s also okay—and in fact, often wise—to keep some money in cash, such as an emergency fund. But even these accounts are worth a review. If cash in your emergency fund is just sitting in a basic, zero-interest checking account, consider placing it in a money market, high-yield savings, or similar FDIC-backed account. There, the money should remain safe and readily accessible, while still offering a bit of interest income—especially while interest rates are still relatively high.
Stay Updated on Retirement Account Rules
Typically, any required minimum distributions (RMDs) from your own or an inherited retirement account are due by year-end—so there’s no time to waste if you’ve not yet made any RMDs due. However, there are new rules for 2024 that could delay, or even eliminate, the need to make an RMD. As always, we recommend consulting with a tax specialist before taking any tax-planning action.
Roth 401(k) changes: Starting in 2024, RMDs are no longer mandatory for Roth 401(k) accounts. This was already true of Roth IRAs. If you don’t need income from your Roth 401(k) this year, leave it alone and let your savings continue to grow tax-free for as long as you like.
New spousal IRA benefits: If a younger spouse with an IRA passes away, the surviving spouse can now delay RMDs until the deceased would have turned 73. This allows for more years of tax-deferred growth, which can make a big difference in retirement savings over time.
RMD age increasing: For younger investors looking ahead, the age for RMDs will rise to 75 in 2033, again providing more time for tax-deferred growth as well as more flexibility in withdrawal strategies.
Maximize Your Gifts to Charity with Higher QCD Limits
December is a peak time for charitable giving. It’s the holidays, after all, and giving offers a meaningful way to support causes you care about while potentially reducing your 2024 tax bill.
If you have RMDs due, one way to participate in tax-wise year-end giving is to replace some or all of your RMDs with qualified charitable distributions (QCDs) from your IRA directly to charity. This year, you may give up to $105,000 in QCDs, according to the IRS. This in turn, can lower or eliminate your RMDs, which would otherwise have been taxed at ordinary income rates. Lowering your reportable income may also help you avoid being pushed into a higher income tax bracket or subject to other tax deduction phaseouts.
Important Date Reminders
Some best practices are perennial, including keeping an eye on important dates. Naturally, there are a number of deadlines associated with year-end. For those who are itemizing deductions, it’s the deadline for 2024 tax-deductible charitable contributions. It’s also the last day you can fund your 401(k). You can contribute up to $23,000 in a 401(k) this year, and next year that limit increases to $23,500. Catch-up contributions for 401(k)s for individuals aged 50 and older is $7,500 for 2024. It will remain that way in 2025, but there will also be a higher catch-up contribution limit of $11,250 for those aged 60 through 63.
IRAs and health savings accounts allow you to make 2024 contributions up until April 15, 2025. You’ve got a little bit of time, but the sooner you invest, the quicker you can put your money to work and take advantage of the power of compounding returns.
Rest and Recharge
While financial planning is essential, don’t overlook the importance of self-care. Amid the year-end flurry, a good night’s sleep might be one of the best investments you can make in your overall well-being, especially during the holidays. In fact, research suggests that better sleep health can reduce loneliness, spark stronger social connections, and foster positive emotional experiences.
And if it’s not better sleep, please take some time for yourself, whether it’s curling up with a good book, having dinner with friends, or taking a long walk with the dog. After all, one of the most important reasons we put so much effort into financial well-being is so we can build a more fulfilling life for ourselves and the ones we love.
Wondering how else you can wind down 2024 and prepare for a fruitful 2025? Reach out and let’s talk.
Justin D. Rucci, CFP®
Wealth Advisor, Warren Street Wealth Advisors
Investment Advisor Representative, Warren Street Wealth Advisors, LLC., a Registered Investment Advisor
The information presented here represents opinions and is not meant as personal or actionable advice to any individual, corporation, or other entity. Any investments discussed carry unique risks and should be carefully considered and reviewed by you and your financial professional. Nothing in this document is a solicitation to buy or sell any securities, or an attempt to furnish personal investment advice. Warren Street Wealth Advisors may own securities referenced in this document. Due to the static nature of content, securities held may change over time and current trades may be contrary to outdated publications. Form ADV available upon request 714-876-6200.
https://warrenstreetwealth.com/wp-content/uploads/2024/12/Your-2024-Year-End-Planning-Guide.png10801080Justin D. Rucci, CFP®https://warrenstreetwealth.com/wp-content/uploads/2014/11/Warren_Street_logo-01.svgJustin D. Rucci, CFP®2024-12-18 07:06:002024-12-16 18:06:41Your 2024 Year-End Planning Guide
We are excited to introduce Ernest Jones, a seasoned CPA and Certified Fraud Examiner (CFE) with over a decade of experience in the accounting field. Ernest brings a wealth of knowledge and a personalized approach to serving small business owners, helping them navigate the intricacies of tax and business consulting.
Please enjoy this interview to give you a deeper understanding of who Ernest is and how he serves you!
Can you share a bit about your professional background and what led you to specialize in tax?
I graduated from the University of Nevada Las Vegas with a Bachelor’s and later a Master’s in Accounting. My career began at a local CPA firm in Las Vegas, where I gained experience in various areas of accounting, from payroll tax filings to conducting financial statement audits. Over time, I found myself gravitating more towards income tax and business consulting, which sparked my interest in working directly with small business owners. This eventually led me to establish my own practice, where I help clients navigate the complexities of taxes and the administrative side of running their businesses.
What excites you about joining our team and working with our clients?
I’ve worked closely with the Warren Street team now for the better part of 7 years, so I feel like I already am part of the team, and we’ve already worked together on some mutual clients already. I’m looking forward to more fully integrating into the team and working to continue to get better results for clients.
What is your philosophy when it comes to creating tax strategies for clients?
Keeping it simple. No one likes paying tax, but I’ve found that doing the basics of tax planning are more fruitful—as opposed to falling down the rabbit hole of the latest social media post that promises tax savings through questionable strategies.
What are some of your key accomplishments in your career that you’re most proud of?
I have a handful of feather-in-the-cap stories where I was able to save taxpayers a few hundred thousand dollars in taxes. I even have a story where I got a taxpayer back a million dollars in overpaid taxes. I think every tax professional will have a few of those stories, and it is hokey to say this, but the most meaningful have been the client interactions where I’ve caught a taxpayer when they haven’t filed for a few years. The client didn’t think they would ever be able to get it resolved or addressed. Those clients are always the most appreciative, and the key thing I’ve learned from that is that any monumental task is best approached by breaking it down into steps and taking it one step at a time.
Who or what motivates you?
My wife, Sandra.
What are three fun facts about you?
I make craft cocktails. It was something I took up during the pandemic because I really missed getting a high quality drink. I’ve gotten to the point where I make my own clear ice.
I’ve been a UNLV men’s basketball season ticket holder for the past 15 years.
I’m born and raised in Las Vegas and still reside here.
We are thrilled to welcome Ernest to the team! His extensive background in accounting, passion for helping small business owners, and commitment to providing personalized service make him an invaluable addition to our firm. With Ernest on board, we look forward to continuing to offer our clients the outstanding support and care they deserve. Welcome, Ernest—we’re excited to have you with us!
Jennifer Battles
Director of Operations, Warren Street Wealth Advisors
Investment Advisor Representative, Warren Street Wealth Advisors, LLC., a Registered Investment Advisor
The information presented here represents opinions and is not meant as personal or actionable advice to any individual, corporation, or other entity. Any investments discussed carry unique risks and should be carefully considered and reviewed by you and your financial professional. Nothing in this document is a solicitation to buy or sell any securities, or an attempt to furnish personal investment advice. Warren Street Wealth Advisors may own securities referenced in this document. Due to the static nature of content, securities held may change over time and current trades may be contrary to outdated publications. Form ADV available upon request 714-876-6200.
https://warrenstreetwealth.com/wp-content/uploads/2024/11/Ernest-Jones-Headshot-2024.png1030824Jennifer Battleshttps://warrenstreetwealth.com/wp-content/uploads/2014/11/Warren_Street_logo-01.svgJennifer Battles2024-12-12 08:21:112024-12-12 08:21:15Meet the Team: Ernest Jones, CPA
With election day over, many are reflecting on what this new leadership might mean for their financial future and the country. While elections can stir strong emotions, it’s important to remember that, historically, markets have been influenced more by economic fundamentals than by which party is in power.
As this chart shows, while the stock market has fluctuated under presidents of both parties, the S&P 500 has trended higher over the long term, no matter who’s sitting in the Oval Office.1
Long-Term Trends: The stock market, as represented by the S&P 500, has generally trended higher over the long term, regardless of which party holds the presidency.
Company Growth: The dynamic U.S. economy has consistently produced successful companies, contributing to economic strength under various administrations.
Market Priorities: Factors like earnings growth, economic conditions, and technological advancements can have more influence on market performance than political changes.
Investor Focus: Your investment strategy should align with your goals, time horizon, and risk tolerance—not the outcome of a single election.
While elections do have consequences, it’s important to keep perspective. In the meantime, we’ll be closely monitoring how the new administration’s agenda might impact areas like tax policy, regulations, and corporate competitiveness. Market reactions to political shifts can create short-term volatility, but these fluctuations can be temporary.
As always, the key is to stay focused on your financial goals. Sudden moves in response to short-term events might be more detrimental than beneficial. We’re here to help you navigate any uncertainty while pursuing your overall financial strategy.
If you have questions about how current events could impact your investments or want to discuss your financial strategy, feel free to reach out.
Bryan Cassick, MBA, CFP®
Wealth Advisor, Warren Street Wealth Advisors
Investment Advisor Representative, Warren Street Wealth Advisors, LLC., a Registered Investment Advisor
The information presented here represents opinions and is not meant as personal or actionable advice to any individual, corporation, or other entity. Any investments discussed carry unique risks and should be carefully considered and reviewed by you and your financial professional. Nothing in this document is a solicitation to buy or sell any securities, or an attempt to furnish personal investment advice. Warren Street Wealth Advisors may own securities referenced in this document. Due to the static nature of content, securities held may change over time and current trades may be contrary to outdated publications. Form ADV available upon request 714-876-6200.
Stocks are measured by the Standard & Poor’s 500 Composite Index, an unmanaged index considered representative of the overall U.S. stock market. Index performance is not indicative of the past performance of a particular investment. Past performance does not guarantee future results. Individuals cannot invest directly in an index. Stock price returns and principal values will fluctuate as market conditions change. Shares, when sold, may be worth more or less than their original cost.
