4 Things Investors Should Do After Thanksgiving
Last year, we started a new tradition in my family. We travel to where the weather's warm and somebody else does the cooking.
When I return from the mini-vacation, my refreshed head goes back down with tunnel vision on the goals.
The space between Thanksgiving and the new year provides time for reflection. Everybody has their own thing. I like to relax with a glass of wine or pint of Guinness in front of the Christmas tree in an otherwise dark room thinking back on the last 11 to 12 months, while organizing a firm plan of attack for the next 365.
Investors: Use the end of the year wisely.
1. Think about taxes. That's especially important this year because we really have no clue how this fiscal cliff gets sorted out, if at all.
Will Republicans get their way and spare the nation's wealthiest an across-the-board tax hike? Or will Democrats win one for Mitt Romney's 47%?
The right tax move for you might be that you do nothing at all. It's almost intuitive -- capital gains and dividends might get taxed at a higher rate in 2013, so sell in 2012. But, as TheStreet contributor Steve Cordasco explains, if you're a long-term investor today's change in tax rates might mean nothing to you tomorrow.
It's a bad way to start 2013 . . . with a loser. Plus, speaking of taxes, it actually feels kinda good to write off a $3,000 capital loss, at least relative to not being able to do it.
3. Stop hating Mark Zuckerberg. That's a weird one, I know, but it's crucial to investing success for the rest of the decade and beyond.
The tripe the Facebook (FB) CEO takes really needs to stop.