Whether you inherited your wealth or earned it yourself, the way you manage it now is critical to your future financial health. Any number of unexpected circumstances, from a sudden devastating illness to a precipitous drop in the stock market, can take a heavy toll on your personal finances. Developing a strong risk management strategy is one of the best ways to safeguard your money. All investments maintain a relationship […]
Continue reading
We are all familiar with the old adage, “money can’t buy you happiness,” but there is a common misperception that the ultra wealthy are satisfied spending their lives making and counting their millions. This couldn’t be further from the truth. A recent study published by Wealth-X examined the interests, passions, and hobbies that highnet-worth individuals (HNWI) enjoyed most when they were not busy working. The study revealed that though there […]
Continue reading
In general, wealthy folks are more open to taking risks with non-mainstream investments because their portfolio is diversified and deep enough to withstand the volatility of high risk/high reward investing. Yet many affluent individuals continue to be wary of investing in cryptocurrency. This may be partly due to the fact that the first form of digital currency, Bitcoin, was introduced just over a decade ago, and questions remain about whether […]
Continue reading
Owning a business in the digital era has changed the way we think about how to keep our company safe. With the fact that we now store and transfer sensitive information online, protecting your business assets and customer data from falling into the hands of computer hackers requires constant vigilance. The importance of cyber security has grown in response to the enormous amount of information that is maintained in digital […]
Continue reading
One of the greatest joys in life is becoming a grandparent. When your adult children start having kids of their own, you will quickly realize that spending time with their babies is a lot more fun than being the one with the child-rearing responsibilities. That said, most grandparents still want to help in any way they can by spending time with their grandkids and/or saving money for their future. Every […]
Continue reading
While everyone is subject to taxation on income and investment earnings, high-net-worth individuals pay proportionately higher taxes than their peers in lower income brackets. Consulting with a tax advisor before deciding how best to invest your money can be a critical step in limiting your tax burden. Better yet, a coordinated effort involving anyone who is advising you on how to manage your assets, such as financial advisors, tax attorneys, […]
Continue reading
Protecting existing assets, such as money, a business, properties, and stock market investments is an important way to ensure your wealth is passed down to future generations. With proper financial planning, heirs will benefit from the hard work and fiscal responsibility you practiced in your lifetime. Along with affording a comfortable lifestyle or status, wealth you leave to your children and grandchildren can increase their ability to be successful through […]
Continue reading
The U.S. is seeing a steady growth of coronavirus cases as well as explosive increases in deaths. California just became the first state to add more than 30,000 new cases in one day, with Los Angeles County setting a record on December 10th with 12,600 new cases. The COVID pandemic reported in February 2020 will still be with us as we head into 2021. Even though there is hope on […]
Continue reading
If you are like many small business owners, selling your business goes hand in hand with planning for retirement. For some selling their business and using the proceeds to retire comfortably is their only retirement plan. Even among business owners who have funded a traditional retirement savings plan, the majority of their personal wealth remains tied up in their business. There are multiple factors to take into consideration when you’re ready […]
Continue reading
No one wants to be served with a lawsuit, especially in situations in which the case has no legal merit. While the majority of lawsuits filed in the U.S. involve legitimate claims, there are always frivolous lawsuits filed that have no basis in law or fact. Many wealthy individuals fail to address the threat to their personal wealth that can result from a frivolous lawsuit. Their higher profiles, combined with […]
Continue reading