When you think of the transfer of wealth and mistakes that come from this, your mind drifts to news articles of famous people who died without a will or estate plan. This is definitely a mistake but not a common one.
You have just received an inheritance. What do you do now? You could spend it on some extravagance, but you would be better off doing two things first: assessing the tax ramifications and thinking about some investment options.
Covid-19 made maximizing retirement income the single most important financial decision of a client’s lifetime. Eyes widen when I share the rate of boomer retirements quadrupled in 2020, relative to 2019, unmooring 350% more “money in motion.”
After the end of every calendar quarter, a portfolio needs to be reviewed to make sure that it is achieving your desired results within acceptable risk and other constraints, such as cash flow requirements and tax considerations.
With the recent turmoil in the financial markets, I have undoubtedly been spending a great deal of time managing and calming my clients’ expectations and fears regarding their portfolios and financial future.
Cerulli Associates, in conjunction with Phoenix Marketing International, surveyed more than 11,000 households with investable assets ranging from $100,000 to more than $5 million throughout 2020, and found, for clients at most asset levels,