ODCM Newsletter

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Laura Brier
Employee Spotlight

You all know Laura as the voice who answers the phone and the point of contact for account logistics. This month we wanted to thank Laura for her years of service and let you get to know her a little bit better.

 

Laura lives in Charlottesville with her husband, Gre, and daughter, Korinne, who is 15 years old.  Korinne is a talented singer and actress and is very involved in community theater and drama at her school.  Laura’s family enjoys going to the theater together.


Tell me about a recent experience you’ve had going to a live show before the pandemic?  
 
The two most recent live shows we watched were The Play That Goes Wrong and Hamilton at the Altria Theater in Richmond.  I have to say they were both amazing.  The Play That Goes Wrong is a murder mystery set in the 1920’s in the English country side.  It is a hilarious mix of Monty Python and Sherlock Holmes.  We laughed so hard that we sometimes found ourselves in tears.  We saw Hamilton a few weeks later, and it was the experience of a lifetime. 
 
Unfortunately, we missed our opportunity to see Wicked as it was cancelled due to the COVID-19 pandemic.
 
What shows has your daughter performed in?
 
My two favorite shows that my daughter, Korinne, has performed in are Newsies and Les Misérables.  In Newsies she was Albert, a newsie/paperboy. The cast really came together to perform a very energetic and entertaining experience.  In Les Misérables, she played the part of Fontine, her biggest role yet!  
 
Favorite moment from Korrine’s performances?
 
My favorite moment from Korinne’s many musical theater performances over the years would have to be when she sang I Dreamed a Dream in Les Misérables.  Her ability to understand the lyrical content and emote musically beyond her age was astounding.  A good portion of the audience was in tears, including myself.  It was beautiful.
 
What else do you like to do in your free time ?
 
I love to hike on the Rivanna Trail with my husband and daughter, mostly because of the shade it provides in the summer months, and the fact that it runs behind my house makes it easily accessible.  We also like the Monticello/Saunders trail where the scenery is much more beautiful.
 
 
What do we need to know about your puppies?
 
I have two dogs, Charlie, a 12 year old Beagle Pomeranian, and Willow, a 3 year old Pembroke Welsh Corgi.  I’m pretty sure they both think they’re supposed to be my shadow.  
 
 
Interesting note from adjusting to work from home?
 
I feel like I have adjusted exceptionally well to working from home.  I know my dogs are loving it!  I do miss the office and my co-workers, but at the same time I feel as if I am more productive at home.  This isn’t the first time I’ve worked from home though.  When I was pregnant with Korinne, I worked from home during my last trimester and was so productive that my employer asked me to continue.  I did so for the next three years before joining ODCM.  It was a real treat being able to work all day and watch my daughter grow up at the same time.
 
 

 

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Why Roth Conversion in 2020?

Two events — a crazy stock market and the waiver of Required Minimum Distributions (RMDs) in 2020 — have unexpectedly created an ideal time for many of you to convert retirement savings from a traditional Individual Retirement Account (IRA) to a Roth IRA. Unlike traditional IRAs, withdrawals from a Roth are tax-free in retirement. The catch is that federal and state taxes are owed on the conversion amount for the year the conversion is made.  However, since there are no RMDs in 2020, and many Americans have a reduced income, this may be a great time for a conversion instead.

Tax-free withdrawals in retirement aren’t the only advantages Roths offer. In fact, their benefits compared to traditional IRAs are numerous.
For example, - Roths have no Required Minimum Distributions  (although they are required for beneficiaries other than a spouse). If you don’t need the money, you can leave the funds intact for your heirs, who can withdraw funds from an inherited Roth tax-free.

Unlike traditional IRAs, Roth IRAs also enable you to tap into contributions free of taxes and penalties at any age for any reason. You can begin withdrawing earnings at age 59½, provided you have had the Roth account for at least five years.
Two things determine how much you can afford to convert from a traditional to a Roth IRA in a given year: the effect on your tax rate and the means for paying the taxes on the conversion amount.  Let your Advisor help you figure how much of your IRA to convert to a  Roth and, whenever possible use savings from a non-retirement account to pay the tax bill.

If you haven’t already, check in with us to see if this strategy makes sense for you.
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How to scan documents on your iPhone, iPad, or iPod touch

  1. Open Notes and select a note or create a new one.
  2. Tap the Camera button Tap Camera button to start scanning a document in Notes, then tap Scan Documents Scan document icon.
  3. Place your document in view of the camera.
  4. If your device is in Auto mode, your document will automatically scan. If you need to manually capture a scan, tap the Shutter button tap the Shutter button to scan or one of the Volume buttons. Then drag the corners to adjust the scan to fit the page, then tap Keep Scan.
  5. Tap Save or add additional scans to the document.

 

 

 We will be open on Columbus Day, October 12, open on Veterans Day, November 11 and closed November 26 and 27 for Thanksgiving.

 

 

RISKS AND OTHER IMPORTANT CONSIDERATIONS
Old Dominion Capital Management, Inc. (“ODCM”) is an SEC-registered investment adviser.  This document does not constitute an offer to sell or the solicitation of an offer to purchase any security or investment product or service nor shall it be construed or relied upon as providing any type of investment, legal, tax or other advice.  Past performance is no guarantee of future results.
The views and opinions expressed here are for informational and educational purposes only as of the date of writing and may change at any time based on market or other conditions and may not come to pass. This material is not intended to be relied upon as investment advice or recommendations, does not constitute a solicitation to buy or sell securities and should not be considered specific legal, investment or tax advice. The information provided does not consider the specific objectives, financial situation, or needs of any specific person. All investments carry a certain degree of risk and there is no assurance that an investment will provide positive performance over any period. Equity investments are subject to market risk or the risk that stocks will decline in response to such factors as adverse company news or industry developments or a general economic decline. Debt or fixed income securities are subject to market risk, credit risk, interest rate risk, call risk, tax risk, political and economic risk, and income risk. As interest rates rise, bond prices fall. Noninvestment-grade bonds involve heightened credit risk, liquidity risk, and potential for default. Foreign investing involves additional risks, including currency fluctuation, political and economic instability, lack of liquidity and differing legal and accounting standards. These risks are magnified in emerging markets.
INDEX PERFORMANCE DISCLOSURES
No investor can invest directly into a passive index. Investors should be aware that you cannot achieve the returns shown because an actual account will incur operating and management expenses from its investment and possibly advisory, custodial and/or recordkeeping expenses.  The performance returns sampled here do not represent the impact that material economic and market factors might have on an investor’s decision making process if the investor were invested in the market.  The calculation of performance differs from actual account performance because the investment strategy may be adjusted by a client at any time for any reasons. The performance returns sampled here reflect the reinvestment of dividends and other distributions.  Third party sources collect the data from financial institutions and related types of entities that created the indices and publish the indices values periodically.  The third-party sources then calculate performance used in this document.  All data is believed to be reliable but is not independently verified by ODCM.