Category: Financial Planning

Are You Affluent? Understanding How Heritage Capital Defines Wealth

When I speak with people about managing their money, it always surprises me how often they don’t believe they are affluent or considered “high-net-worth,” even if they have $500,000 or more of investable assets. Since this happens fairly often, I decided to write a blog based on the true definition of wealth because it means different things to different people. Determining wealth is a personal journey that goes far beyond mere numbers. It’s about matching your life goals and values […]   Read More
Date: March 11, 2024

Building Enduring Wealth: Your Guide to Thriving at 100 and Beyond

In today’s world, where medical advancements, healthier lifestyles, and new technologies are extending life expectancies, living to 100 or beyond for one or both spouses isn’t just a possibility—it’s increasingly likely. This begs the all-important question: Have you saved enough to sustain your retirement lifestyle and financial security for 35 years? This is especially relevant if longevity runs in your family.  This extended time horizon demands a fresh perspective on retirement planning that goes beyond traditional strategies and embraces the […]   Read More
Date: January 26, 2024

Five Smart Money Moves to Make in Your Early 50s

As the saying goes, “There’s no time like the present.” As you approach your early 50s, planning for your retirement should be a high priority, even if your retirement date is ten or more years away. You’re in your prime earning years, so it’s an ideal time to refine your financial strategy to ensure you achieve your goals for a comfortable, secure retirement. While you are beginning to see a glimmer of light at the end of a tunnel, now […]   Read More
Date: January 22, 2024

10 Signs It May Be Time to Break Up with Your Financial Advisor

The stakes are undeniably high when you entrust someone with the critical task of helping you manage your liquid wealth. This is even more true when you are nearing retirement and have more to lose. You basically get one opportunity to get it right.   Many investors rate their financial advisor’s performance based on their results during the recent bull market. When you see your statement balances going up, that’s a good sign. You may think, “My financial advisor must be […]   Read More
Date: December 15, 2023

Long Lives & Tech Leaps: The Role of Generational Wealth Today

We continue to see the promising potential for extended life spans in an age of rapidly advancing technology and medicine. If you are 20, you have a 50% chance of living to be 100 or more. If you are already 60, you have a 50% chance of living to be 90 or more. Plus, there are emerging technologies that could extend lifespans even longer.    While this is a somewhat futuristic perspective, we should ask ourselves: Are we prepared for our […]   Read More
Date: August 28, 2023

Why High-Net-Worth Individuals Need a Fee-Only Fiduciary Financial Advisor

Navigating financial markets can be as challenging as sailing uncharted waters. For high-net-worth individuals, these waters can often be laden with an even greater array of complex financial decisions, strategies, and outcomes. What is a realistic solution?  Hire an experienced guide. But not just any guide. Hire a fee-only financial advisor who, as a fiduciary, must put your financial interests first. In this blog, I’ll explain why highly successful individuals like yourself should consider working with a fee-only, fiduciary financial […]   Read More
Date: June 26, 2023

Will the Economy Always Be Like This?

Without an adequate understanding of where their financial security stands in times like these, even high-net-worth investors sometimes feel as though stability is out of reach. However, with a firm grasp of economic trends and practices—and the insight for making informed investment decisions when times are tough—there is hope for a prosperous future.  The important thing now is to remember that we aren’t in a recession, not yet. It looks increasingly likely for the fourth quarter of the year or […]   Read More
Date: May 22, 2023

Getting Defensive Against a Recession

Affluence can make it easy to believe that you are immune to economic downturns. After all, it typically involves having substantial assets, investments, and resources at your disposal. History has shown us time and again, however, that even the wealthiest individuals can be impacted by financial crises. That is why it’s essential to prepare for a 2023 recession: You need a solid plan in place to protect your savings and assets. In the sections below, I discuss the unique challenges […]   Read More
Date: May 8, 2023

How a Roth Conversion Could Lower Your Tax Costs

Now more than ever, even high-net-worth individuals should be looking for ways to reduce taxes. Inflation, like market volatility, affects everyone: Having a million dollars in a savings account today may buy more goods and services than it could tomorrow. With this in mind, a Roth conversion could be an option worth exploring if you want to reap the benefits of reduced taxes and greater financial flexibility.  In a sense, this allows you to have a little cake and eat […]   Read More
Date: January 23, 2023

Festive Lights & Financial Planners in Connecticut

The holidays are supposed to be a time for cheer and relaxation, but for many affluent investors, they can also be a time of stress. Between trying to find the perfect gifts and spending time with family, it can be hard to focus on your financial life in general, much less your investments.  That’s where wealth management comes in: The right professional can help you relax more—by taking care of your investments for you. While you recharge, mentally and physically, […]   Read More
Date: December 13, 2022