It can be hard to foresee all the changes life throws at us over the years. It can be especially difficult to anticipate how those changes might impact wealth for generations to come.
Even though research shows that people with financial advisors are usually better prepared for retirement and more at ease with their financial wellness, selecting the right financial advisor is no easy decision.
Sudden wealth can take many forms, including selling a business, executing stock options or reaching a legal settlement. Most often, however, sudden wealth is the result of an inheritance.
Passing down values related to family wealth is one of the most crucial, yet challenging, tasks for parents today. A child’s experience with money during their formative years can shape how they save, spend and give for the rest of their life.
As the baby boomer generation approaches one of the largest transfers of wealth in U.S. history, individuals are focusing on how to facilitate the flow of their assets to their children, grandchildren and great grandchildren. Passing along more liquid assets – like stocks, bonds and cash – is somewhat straightforward.
Over the past year, there has been a lot of talk – and just as much confusion – about the Department of Labor’s “Fiduciary Rule”. The proposed rule will legally and ethically require all financial advisors who provide retirement planning advice to meet “best interest” advice standards.
Few can argue that wealth hasn’t changed over the past 100 years. The underlying factors that contribute to how we manage our money —family, work, society—are starkly different than in centuries past. And because of that, we invest differently; we save differently; we spend differently. There’s perhaps no better way to discuss the evolution of…
When parents welcome a new child into their family, they’re hit with many numbers—date and time of birth, length and weight of the baby. But in the early years, many families neglect to consider three very important numbers that will affect their estate and their child’s future: 529. While 529 plans have been available for…
What’s the first thing that you think about when you’re asked about a will? If you’re like the millions of Americans without a proper estate plan, thoughts likely move quickly to your own mortality. Perhaps that’s why so many people stay in that estate planning purgatory for far too long. Recent high profile deaths of…
