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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:  ROring@ncfg.comOr 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 roring@ncfg.comor 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.  ROring@ncfg.com.

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 ROring@ncfg.com, 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.  ROring@ncfg.com.

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 ROring@ncfg.comWebsite: 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 out.Xavier@plan-wisely.comROring@ncfg.comOr call 609-924-2049 - Xavier at extension 505 or Rich at extension 126

January is a time to re-consider your financial goals.  Today, Richard Oring of New Century Financial Group explains why financial planning is no longer for only the rich - it's something that is accessible to everyone.You should start a financial plan in order to develop real, tangible goals and work toward them. These can include education planning, retirement planning, big purchases, estate planning, tax planning, investments and more.   A financial plan can also lead to better financial communication with your spouse!There are many different models of financial planning, including subscription based, goal based, and advanced planning.  Chances are, there's a plan that's right for you.To contact Rich at New Century Financial Group:www.ncfg.comOr call: 609-924-2049 x126

Life Insurance is a very important aspect of your financial future.  But it can be very confusing. Today, Richard Oring of New Century Financial Group breaks down everything you need to know about Life Insurance.   Why do I need life insurance? What can life insurance protect? Can part of my life insurance benefits be donated to charity? What are the tax implications of life insurance? Next, Rich breaks down the pros and cons of different types of life insurance, including: Term Life Insurance Whole Life Insurance Variable Universal Life (VUL) Insurance Universal Life Insurance Riders and Loans from Cash Value Finally, we talk about the important aspects of selecting life insurance, medical underwriting, and the importance of being educated before making a decision.For help with this or any aspect of your financial future, reach out to Rich at New Century Financial Group:Phone: (609) 924-2049, extension 126Website: www.ncfg.comEmail: roring@ncfg.com

Today, Richard Oring of New Century Financial Group and co-host Jon "JAG" Gay cover the field of financial planning - what financial planners do and who needs one.We all have coaches for different aspects of our lives and financial planning is no different. That's where a planner comes in, and with increased advertising in the field, baby boomers retiring, and the impact of COVID-19, demand for financial planning has never been higher.There are different pricing models that financial planners use, including traditional, AUM (assets under management), or a combination of the two.  A newer model that Rich prefers is a subscription model, with an upfront fee then monthly, quarterly, or semi-annual fees.Comprehensive planning (or holistic planning) is much different than simple or goal-based planning, which can be much narrower in scope.   Comprehensive planning can include insurance planning, retirement planning, investment, tax, education, and so much more.To contact Richard Oring, call him at 609-924-2049 or email him at roring@ncfg.com.You can also schedule an appointment directly from our website: https://www.ncfg.com/schedule/

Today Richard Oring of New Century Financial Group and Jag are joined by Bill Cass, Director of Wealth Management Programs at Putnam Wealth Management in Boston. With Democrats now in control of the White House, and both houses of Congress, we've received many questions from clients on what that will mean for taxes going forward.  This is one of Bill's many areas of expertise.   We look at the the pending COVID relief bill, what can be passed, and what may be done through the process of budget reconciliation - Bill breaks it all down in an easy way to grasp.After we get through COVID relief, the Biden tax plan will likely come into focus.  Bill and Rich cover what may happen with corporate taxes, FICA, and personal taxes as well.   And how do capital gains charitable giving, and the alternative minimum tax figure in to the math?   Also, how might estate taxes change?Finally, could we see an extension of some aspects of the CARES Act in 2021?  How might that, and the current state of the market affect your RMD's?  Is it a good time to look at a ROTH conversion?Resources:Putnam Wealth Management Website (and Bill's Blog):  https://www.putnamwealthmanagement.com/ Charts:Should I consider doing a Roth Conversion? https://newcenturyfinancialgr-my.sharepoint.com/:b:/g/personal/roring_ncfg_com/EZ-Wxah3Rx1Bo4bmHcxZkx4B59SI1iaEFkBVIDBjcfU3ig?e=bOPjKlCan I make a backdoor Roth Contribution? https://newcenturyfinancialgr-my.sharepoint.com/:b:/g/personal/roring_ncfg_com/EUV0lLN6I4ZKqaC1ttcGR4sBjddnlvrKJhpE79stzmghfQ?e=BK7lQ6Can I make a MEGA Roth backdoor Contribution? https://newcenturyfinancialgr-my.sharepoint.com/:b:/g/personal/roring_ncfg_com/EbknGLg50QhEvTHpDJlJJscBYqwKogWXPSO-WnGLoti5Kw?e=xOk0HKContact Richard Oring at New Century Financial Group:New Century Website: https://www.ncfg.com/Call Rich: 609-924-2049, x126Email Rich: ROring@ncfg.comAddress:  One Airport Place, Suite 3                      Princeton, NJ 08540Securities offered through Royal Alliances Associates, Inc. (RAA), member FINRA / SIPC.  Investment advisory services offered through New Century Financial Group, LLC RAA is separately owned and other entities and/or marketing names, products or services referenced here are independent of RAA. Branch Office One Airport Place, Suite 3, Princeton NJ 08540 Phone: (609) 924-2049 IMPORTANT CONSUMER INFORMATION: A broker-dealer, investment adviser, BD agent, or IA rep may only transact business in a state if first registered or is excluded or exempt from state broker-dealer, investment adviser, BD agent, or IA rep registration requirements, as appropriate. Follow-up, individualized responses to persons in a state by such a firm or individual that involve either effecting or attempting to effect transactions in securities or the rendering of personalized investment advice for compensation, will not be made without first complying with the appropriate registration requirement, or an applicable exemption or exclusion. For information concerning the licensing status or disciplinary history of broker-dealer, investment adviser, BD agent, or IA rep, a cons

Today, we visit with Richard Oring's former intern (and nephew) Aaron Kravitz.  Aaron is about to graduate a 5-year program at Penn State University with a bachelor's and masters degree in accounting.Not only did Aaron have to navigate the usual challenges of college life - time management, accountability, and budgeting - but he is also finishing his university career in the middle of a pandemic. This of course brings a new set of challenges.Classes are virtual with different preferences of different professors, and even the social life is very different on campus - from bars and restaurants to not being able to go to Nittany Lions football games. While Aaron was in school, he did two very different internships - one with Deloitte & Touche in New York, and the other with Rich at New Century.  Both were great learning experiences,  but we look at the comparison between interning at large and small companies.  Incidentally, Rich speaks very highly of the work that Aaron did on marketing materials for NCFG.The advice that Aaron provides is relevant for all college students - not just during COVID.  He talks about budgeting, spending the necessary time on coursework, and finding a way to stand out among your peers (and not just with grades).And of course, we share a funny story about Rich's sister, who happens to be Aaron's Mom.Resources:New Century Financial Group Website: https://www.ncfg.com/Rich's email: rich@ncfg.comNew Century Phone Number: (609) 924-2049To Review The Podcast:  https://lovethepodcast.com/financialmatterswithrichardoringCheck the background of your financial professional on FINRA’s BrokerCheck. The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. Please consult legal or tax professionals for specific information regarding your individual situation. Some of this material was developed and produced by Advisor Evolved to provide information on a topic that may be of interest. Advisor Evolved is not affiliated with the named representative, broker-dealer, state – or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security. Securities offered through Royal Alliances Associates, Inc. (RAA), member FINRA / SIPC.  Investment advisory services offered through New Century Financial Group, LLC RAA is separately owned and other entities and/or marketing names, products or services referenced here are independent of RAA. Branch Office One Airport Place, Suite 3, Princeton NJ 08540 Phone: (609) 924-2049 IMPORTANT CONSUMER INFORMATION: A broker-dealer, investment adviser, BD agent, or IA rep may only transact business in a state if first registered or is excluded or exempt from state broker-dealer, investment adviser, BD agent, or IA rep registration requirements, as appropriate. Follow-up, individualized responses to persons in a state by such a firm or individual that involve either effecting or attempting to effect transactions in securities or the rendering of personalized investment advice for compensation, will not be made without first complying with the appropriate registration requirement, or an applicable exemption or exclusion. For information concerning the licensing status or disciplinary history of broker-dealer, investment adviser, BD agent, or IA rep, a consumer should contact his or her state securities law administrator This communication is strictly intended for individuals residing in the state(s) of AL, AK,&

Some people are savers, and others are spenders.  Today, we break down the psychology of money.  Joining Richard Oring are certified financial planner Erik Garcia and clinical psychologist Matt Morris, hosts of their own podcast, Building Us. We start by looking at different types of couples - pairs of savers, pairs of spenders, and one of each - and we tell you which pairing often changes...quickly. Matt, Erik, and Rich break down the psychology behind what makes some people spenders and other savers.  Sometimes this is a product of upbringing, and this is often a source of friction in relationships. It's important to note that saving isn't always good, and spending isn't always bad. There are happy mediums to everything, and we discuss strategies you can employ to change your financial behaviors. COVID has been a terrible time for so many people for so many reasons, but for some, it's given us an opportunity to slow down, and spend more time with our families. Resources:   Financial Matters with Richard Oring https://www.ncfg.com/podcast/ Building Us Podcast: http://building-us.com/ New Century Financial Group Website: https://www.ncfg.com/ Call Richard Oring at (609) 924-2049. Email Rich at roring@ncfg.com

Today, Richard Oring of New Century Financial Group joins Jon Gay to explain the various fees associated with mutual funds. We cover:What resources are there to find the costs and performanceInvestor.gov - https://www.investor.gov/Morningstar.com - https://www.morningstar.com/Fund ProspectusDefinitions to knowFront End LoadBack End LoadNo LoadFund expenses:Management FeesDistribution/12b1 FeesOtherFund FeesExchange FeeTicket ChargesCustodian FeesHow to know if what I own or am looking at is appropriate for the fees I’m payingQuestions you can ask your investment advisorResources:Email Richard: ROring@ncfg.comNew Century Financial Group WebsiteCall Richard: 609-924-2049 x126

Today Rich and Jag look at ways to keep more of your money and give less of it to Uncle Sam.First, we look at basic tax terms includingAdjusted Gross Income (AGI)Above The Line DeductionsItemized DeductionsStandard DeductionsTaxable IncomeCreditsTotal TaxNext, we tackle ways to reduce your W2 income:Contributing to a traditional 401kFunding a traditional IRAHSAs and FSAsCommuter BenefitsWe also look at different investment strategies that can lower your tax burden.Resources:Email Richard: ROring@ncfg.comNew Century Financial Group WebsiteCall Richard: 609-924-2049 x126

With June here, Richard Oring of New Century Financial Group joins Jon  Gay to take stock of where we are, almost halfway through the year.Things we've learned to live without in 2020Food and Medical SuppliesSocial Justice and Social UnrestFinancial IssuesInterest - the difference between lending and borrowingLow rates and refinance optionsDon't be afraid to take advantage of governmental programs like PPPDon't be afraid to ask lenders for a break.Email Richard: ROring@ncfg.comNew Century Financial Group WebsiteCall Richard: 609-924-2049 x126

Today, Richard Oring and Jag break down the CARES Act - the Coronavirus Aid  Relief and Economic Security Act - and what it means for you.  We cover:Recovery Rebate Checks for TaxpayersRetirement Plan WithdrawalsRetirement Plan LoansRequired Minimum Distributions (RMD's)Changes to Charitable DonationsUnemployment BenefitsResources:IRS Publication 972Email Richard: ROring@ncfg.comNew Century Financial Group WebsiteCall Richard: 609-924-2049 x126 

Richard Oring's phone has been ringing off the hook with calls from clients panicked over the coronavirus and what effects it will have on their investment accounts.  Today we cover some important things to remember.When you set up your portfolio, you start with goals and what you need to achieve to get there. Once you have the plan in place, stick to the plan instead of letting your emotions get the best of you.One of the most challenging parts of Richard's job is managing client expectations.  He walks us through his process and the safeguards he uses with client accounts.And finally, the three questions you should ask yourself:Am I comfortable with the amount of money I have lost?Have my goals changed since I started this account?Is there liquidate assets from this account if I need to take out money which won’t result me from selling something in distress?

There are many mistakes that people make with their 401K accounts. Today we try to help you avoid those mistakes now instead of trying to fix them later. They mainly fall into three categories.Contribution Level MistakesNot putting enough into your 401kNot putting anything into your 401kNot increasing your contributions over timeInvestment MistakesFund SelectionBeing too heavily invested in Company stockPanic when the market dropsNot reallocating or rebalancingMiscellaneous MistakesNot doing a household budgetNot knowing about Roth 401K'sUnderstanding investment fees and risksTaking loans from 401K accounts without knowing the rulesLearn more:Everplans Estate PlanningEmail Richard: ROring@ncfg.comNew Century Financial Group WebsiteCall Richard: 609-924-2049 x126