For many Americans, retirement represents a milestone goal, a transition into truly embracing freedom in many ways for the first time. It’s a reward for a lifetime of hard work…
Humor me for a moment and try to remember accessing the internet in the early 1990s. For me, connecting went something like this: Double checking no one was on the…
I will admit that I am a little bit of a news junkie. In the age of the internet, we are constantly bombarded with stories about anything and everything vying for our limited time and attention, from the “Most Exciting Football Play of the Week” to the “Best Places to Retire.” Even more so, money controls many of our basic human emotions, such as personal security, fear, and greed. With the constant deluge of information coming at us from all directions, how are we supposed to stay up to date with what’s going on in the world AND maintain our long-term investment strategy?
Tax planning may not be the most exciting part of creating a financial plan. But if you want to keep more of your money in your pocket, active tax management is critical.
For instance, let’s say you’re planning on selling your business. While negotiating a good price is important, so is structuring a tax-efficient way to receive the proceeds. Investing these assets strategically post-sale can, in turn, help minimize taxes as you draw down the funds over the years.
At SWP, we believe that active tax management should play a central role in any financial plan. In this article, we’ll outline the key strategies involved in implementing appropriate and effective tax management.
As we transition from the first to the second half of the year amidst a positive market but an uncertain economic picture, it’s crucial to adapt your financial approach accordingly. In this article, I outline six different investment and planning topics with high-level considerations to help optimize your financial plan before year-end.
My friend has an aunt who is a widow with two adult sons with very different financial situations. One son recently sold a business for a large sum and has in-laws that are very wealthy and own multiple homes. The other son has a more traditional job and he and his wife provide financial support to her parents. Despite her sons’ different circumstances, this widow feels very strongly that her assets should be divided equally if anything happens to her. That is the best decision for their family.
There are many different ways for ultra-high net worth individuals and families to reduce estate taxes. In this short video, SWP Principal Andrew Denenberg discusses one such estate planning technique called an Intentionally Defective Grantor Trust.
When we reflect on what to do with our wealth as we grow older, we tend to first think about where our money will go after we pass. Recently though, more and more people are shifting their perspective on passing down their wealth from an inheritance-focused view to a more immediate, experience-focused one.
Instead of saving every available dollar for their estate, people are using some of those assets to fund unforgettable family vacations, meaningful experiences with friends, and other memories that last a lifetime. People are also investing in their loved one’s lives while living, offering to contribute more to wedding costs, housing down payments, and business funding.
At some point in your life, you may be faced with managing a large cash inflow. Selling a business, collecting a deferred compensation payout, and receiving an inheritance are a few of the most common reasons. Regardless of the source of this money, you will have to decide what to do with it.
It’s an age-old investing debate: should I invest the cash all at once, or stage into the market over time?