fbpx

Posts Tagged ‘wealth management’

The Increasing Success of Women as Investors

More and more we hear the same stories of women living longer, being sicker and with less money to work with into retirement. Women are 80% more likely to be impoverished in late life.[i] We know why this happens: women live longer than men, women often make less and save less, and women often aren’t in control of their investments. The harsh truth is that women need a bigger nest egg than men because they will most likely live longer and need more extended and expensive care.  Instead of another article focusing on the grim details of women and retirement, let us change gears and talk more about women and investing. How can a new generation of soon to be retiring women break the cycle and come out on top? In this article, we will explore qualities that may make women better investors and hopefully encourage more women to take the plunge into investing for their retirement.

Read More

Four Tips for Keeping an Active Lifestyle in Retirement

You worked, you saved, you planned. Now, after all that, it’s time to retire. This big change is both exciting and a little scary. If you’ve defined yourself by your career, you may experience the transition as something of a loss. As exciting as the opportunity to make your own schedule and do whatever you want, it may also be a little disorienting. Not since we were kids on summer vacations from school did we ever have such open schedules to fill however we want, and even then, we had to be home before dark. Retirement is a big, exciting event in your life, whether you are excited or filled with trepidation. In this article, we will go over some lifestyle changes and tips to help ease the transition and get you the best retirement, for you.

Read More

Smart Ways to Take Control of a Trust

Many successful families use trusts to minimize taxes, transfer wealth and protect assets from creditors and others. You may have already set up a trust, or you may hold an inheritance you received in a trust that was created decades ago. Trouble is, too many families relinquish more control over their trusts than they need to, basically hoping that the trustees they have put in charge will serve them well. They take a passive role in their trusts rather than an active or proactive role.

Read More

The Road Less Traveled: Taking Steps Toward Your Ideal Retirement

Have you given a great deal of thought about your “bucket list” recently? For most people, a bucket list consists of things we have always wanted to do and many of those things involve taking risks or traveling far away from home or exploring some other type of great unknown. I read an article recently in Financial Advisor Magazine that discussed regrets that people had as they aged. The article said, “Among the top regrets were: not following their dreams, not taking risks with their careers, not taking risks with their lives in general, and not being gutsy enough in the choices they made.”

Read More

Practice and Courage: Why Retirement Is like Learning to Dive

Do you remember when you learned how to dive? Do you remember how you felt when you saw others doing it and you wished, hoped for the day when you would have the courage and agility to take that plunge and know that you’d land gracefully in the water? Do you remember how ungraceful that first attempt was?

I have this vivid memory of learning to dive. We went to this pool every summer during childhood and there were older kids and adults who used to take turns practicing their dives. From my perspective, each of them was better than the last. They would walk slowly up to the edge, look down into the water, bounce once with two feet on the board, then with just one– shooting their knee straight up in the air, then one final time before they raised their arms high over their head, and traveled in a perfect arc, making the most peaceful splash as they landed– arms, then head then torso and lastly feet into the water. I so desperately wanted to be able to do as they did. My dad, was eager to teach when I asked him to show me the secret. But he explained that there was no secret at all. What was needed was precision, an understanding of gravity and physics and, most importantly, courage. He explained that courage was most important, not because it would improve your dive, but because it would empower you to keep going until you perfected it.

Read More

Emotional Investing and Consequences of Behavioral Biases

Distraction from the media, uncertainty or volatility in the markets, or pressure to buy and sell from friends, colleagues, financial “gurus” and other less than reliable sources for investment advice can directly challenge an investor’s ability to make consistent, rational and logical investment decisions. The barrage of information coupled with some inherent behavioral biases can make long-term investing a challenge for most people.

Read More

Want to Promote Family Entrepreneurship? Consider a Family Bank

With that in mind, the Super Rich are embracing ways to develop the business acumen of inheritor family
members—as well as ways to support them in forming new ventures of their own.
One way the Super Rich are making that happen is through family banks. And increasingly, families that
aren’t as wealthy as the Super Rich are using these banks as well.

With that in mind, the Super Rich are embracing ways to develop the business acumen of inheritor family
members—as well as ways to support them in forming new ventures of their own.

One way the Super Rich are making that happen is through family banks. And increasingly, families that
aren’t as wealthy as the Super Rich are using these banks as well.

Read More

How to Stress Test Your Financial Plan Like the Super Rich

The Super Rich (those with a net worth of $500 million or more) who have family offices typically engage a sizable lineup of professional advisors to help them create and implement financial plans. To help ensure those plans are both state-of-the-art as well as in line with their needs and wants, many of them regularly “stress test” these plans.

Here’s why you should join them in that effort—even if you’re not nearly as wealthy.

Asking “What if?”

Stress testing financial plans can be a very smart way to help make certain that the plan will deliver as promised. The fact is financial plans that might look great on paper all too often prove to be much less impactful once they are implemented. It is not uncommon for there to be unintended consequences that can even derail one’s agenda.

Read More

Three ‘Spy Secrets’ That Can Protect You, Your Family and Your Business

Imagine yourself in a vintage tuxedo, sipping a “shaken, not stirred” martini as you make eye contact across the bar with a beautiful secret agent who is about to covertly hand you a dossier with information that will help prevent World War III.

Okay—that’s almost certainly never going to happen to you. But you can use some of the same strategies employed by professional spies and operatives to prevent criminals from harming you, your family and your company.

Read More

Understanding Retirement: Five Steps to Plan with Confidence

There was a time when people looked forward to retirement as a time for relaxation. But planning for the financial future is anything but relaxing for many people nearing retirement in the current economic climate. According to a 2016 PwC survey, just over half of Baby Boomers see their top financial concern as not being able to retire when they want to. That kind of uncertainty compounds the stress that many people often face with trying to save and invest enough money for retirement.

Read More