In times of market volatility, when inflation is increasing, the Federal Reserve will raise interest rates to help to cool the inflation spike. During this period, people are anxious and keep a tight grip on their wallets. In time, the Fed can put a halt on the interest rate hike. This pause is a breath […]
A perspective shift occurs in the wealth landscape; many now recognize health as the new wealth. Healthcare, long-term care (LTC) insurance, and other wealth-related financial instruments have become essential considerations for HNW individuals. In this article, we discuss understanding health as an invaluable asset, the necessity of LTC insurance, and the healthcare needs and considerations […]
The highly sought-after six-figure salary isn’t what it used to be. Time Magazine reported a startling statistic from a survey conducted by the financial insight and advising companies PYMETS and Lending Club which found that 51% of people earning more than $100,000 reported living paycheck to paycheck. When they explored over 70 cities and how […]
Starting a new business is no small feat. It involves several of steps, from the early planning stages to filling out the necessary legal documents. Here are 10 steps to consider when starting a new business. 1. Create a business plan A well-defined business plan is essential because it helps establish achievable goals and a […]
Tax identity theft is a serious type of fraud that affects individuals of all ages and stages of life. To steal a person’s tax identity, a scammer uses that person’s Social Security number and other personal and financial information to fraudulently file a tax return and claim a refund they’re not entitled to. Scammers often […]
For high-net-worth individuals (HNWIs), implementing healthy financial behaviors is crucial to maintaining their assets and growing wealth. Regardless of having significant financial means, embracing healthy financial behaviors must extend beyond simply making money or amassing wealth. Here, we outline strategies and behaviors that are important not only for building and maintaining wealth but also for […]
Tax planning might be complex, but it’s also essential—especially for high-net-worth families, where missing tax breaks or failing to optimize income could cost significant dollars, maybe millions, over a lifetime. And even in the short term, with the highest marginal federal tax rate sitting at 37% for 20241 (plus additional state and local taxes), a […]
The new year is fast approaching, and it is a good time for small business owners to make some financial resolutions to help lead them toward a solid financial path. Whether your business is just starting or you have been running it for decades, the new year is the time to review your financial situation […]