3 Important Suggestions about Business Succession Planning
Business Succession Planning: Three Suggestions and Why the Biggest Threats May Be Connected to Your CPAs If you intend to pass your business on to the next generation, developing a business succession plan should be top of mind when considering the future of your company. Eventually, you will want (or
After the SECURE Act: Rethinking Generational Wealth Transfer
After the SECURE Act: Rethinking Retirement Planning and Estate Planning Strategy for Generational Wealth Transfer The SECURE Act became law on December 20, 2019. “SECURE” stands for “Setting Every Community Up for Retirement Enhancement.” As the name suggests, the SECURE Act influences how people save, plan for, and live during
4 Risk Tolerance Issues to Discuss with Your Financial Advisor
Risk Tolerance: 4 Issues with Key Questions to Discuss with Your Financial Advisor An investment of any type carries some level of risk. How can you better understand your tolerance for investment risk? More importantly, how can you improve your tolerance for acceptable risks while increasing your awareness of unnecessary
When Retirement Planning and Tax Planning Come Together
When Retirement Planning and Tax Planning Come Together: Sequencing Retirement Income in a Tax-Efficient Way – Including a Critical Look at Annuities Amended 10/17/2023 When we’re planning for retirement, one of the important things is tax planning and creating a strategy for how we’re going to draw on different sources
Closing the Gap in High Net Worth Financial Planning and Wealth Management
There’s a pervasive gap in high net worth financial planning and wealth management between what clients expect and what they receive – and that gap can be closed with Team of Experts Planning. What Is the Client Underservice Gap? For example, 80% of wealthy investors recently surveyed expected to receive
Investing, Diversification, and Choosing a Financial Advisor
Investing, Diversification, and Choosing a Financial Advisor Understanding diversification in investing is very important from the standpoint of building long-term wealth and managing risk. Once you understand diversification, it can be a great first cut for finding a financial advisor who can serve you well. It’s a great assessment tool
Combining Roth IRA Conversions and Long Term Investments
Roth IRA Conversions and Long Term Investment Time Horizons in Advanced Financial Planning: Why Both Are Growing in Importance and Why the Two Can Be a Powerful Combination The SECURE Act of 2019 changed financial planning for the middle class, but especially for high-net-worth and ultra-high-net-worth families. In particular, the
Three Ideas for Finding the Best Financial and Tax Planning Advisors
Understanding the Expertise Gap in Financial Planning and Tax Planning – And Three Ideas for Helping You Find the Advisors You Need The Expertise Gap Effective financial planning and tax planning often face an expertise gap. When it comes to financial planning and tax planning, families and their financial planning
The Expertise Gap for Business Owners in Financial Planning
Your Emotional Biases Can Hurt You Financially. So Can the Emotional Biases of Others: Four Mistakes You Can Avoid Our relationships with wealth and investing? Chances are they’re complicated and sometimes emotional. Our financial planning, really our financial planning discipline, is regularly affected by emotional bias. It’s challenging to be
Four Mistakes Emotional Biases can cause you to make
Your Emotional Biases Can Hurt You Financially. So Can the Emotional Biases of Others: Four Mistakes You Can Avoid Our relationships with wealth and investing? Chances are they’re complicated and sometimes emotional. Our financial planning, really our financial planning discipline, is regularly affected by emotional bias. It’s challenging to be
6 Lessons of Financial Planning to Teach Future Generations
A Lasting Legacy: Six Foundational Lessons of Financial Planning and Wealth Management to Teach Your Children or Grandchildren People love to give back. For many, being significant in the lives of others is a way of life. Whether you’re doing your own financial planning or working with advisors, here’s a
Emotional Bias in Financial Planning: What to Do About It
Emotional Bias and Crises as Permanent Risks in Wealth Management and Financial Planning: What to Do About Them Emotional decision-making is bad decision-making. As the COVID pandemic demonstrated, emotion-driven choices can roil financial markets and destroy wealth, and they’re unnecessary. In 2020, COVID-19-pandemic-related market volatility was the highest volatility since
Politics, Taxes, and Planning
Politics, Taxes, and Planning: Wealth Taxes Join Capital Gains Taxes, Estate Taxes, and Estate Planning on the Public Agenda In America today, tax policy is a matter of ongoing dispute between the two major parties. Differences about the goals and degree of taxation are everywhere you look in American politics
What is the Fiduciary Rule?
What is the Fiduciary Rule and Why You Should Care When you’re deciding on a financial advisor or a firm to guide you on financial planning and wealth management, you should have a lot of questions prepared. One of the most important questions to ask is whether the advisor is
Thinking about Long-Term Care Insurance When You’re Middle-Aged and Older
Thinking about Long-Term Care Insurance When You’re Middle-Aged and Older When people marry and have a family, they generally buy life insurance. They do so out of regard for their spouse and children and so that in case of untimely death, the family can still have income sufficient to maintain