Month: February 2020

Four Reasons to Think Twice Before Buying a Vacation Home

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When you spend most of your year toiling away at work, it’s natural to want to make the most of your vacation time. For many Americans, this means dreaming of the opportunity to own a vacation home where they can relax and recharge, while possibly earning rental income, too.

Before you pull the trigger on your own vacation home, however, you may want to think twice. While it certainly offers the opportunity for enjoyment and making meaningful memories, vacation homes also come with a few drawbacks.

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Selling a Business Provides Unique Philanthropic Opportunities

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The opportunity to sell your family business might represent the pinnacle of your life’s work – and possibly the work of generations of family before you, as well. It can be an even more meaningful experience when you use the sale as an opportunity to achieve your philanthropic objectives, which is possible with proper business and tax planning.

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Do You Think The Stock Market Will Crash During Your Lifetime?

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The stock market has always been volatile, going and going down repeatedly. But what are the actual FACTS about stock market crashes?

Since 1929, the stock market has had 13 bear market crashes that have averaged -39.5 [pronounced “negative 39 point 5”] percent in losses.

While 13 crashes since 1929 doesn’t sound like that many, it means historically, the stock market crashes and loses an average of -39.5 percent every 7 years. Why is all this important? 2 reasons:

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The Stock Market Hasn’t Always Earned 8%, 10%, or 12%

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You may have been told to invest in the stock market because you’ll possibly earn 8, 10 and even 12 percent per year. And if you got these returns, everything would turn up roses. But what if you don’t?

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What Do You Want From Your Money?

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Recent studies show retirees have seven financial goals in retirement:

A guarantee that they won’t run out of money for as long as they live.

To avoid large stock market losses and never suffer through another 2008 type market crash again.

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Four Strategies for Overcoming Boredom in Retirement

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So, you’ve made it to retirement – congratulations! Your many years of hard work, smart financial choices and proper life planning have paid off and you’re now enjoying the best years of your life. Or, are you?

Like many big life changes, retirement can bring with it some surprises. One that catches many retirees off-guard is just how difficult it can be to fill your days when you no longer have the obligation of work – or the natural social life that stemmed from daily interaction with coworkers. So, if you’re feeling bored or even daunted by the idea of so much free time on your calendar, rest assured you’re not alone.

Still, it takes thoughtful commitment to overcome boredom in retirement. It’s not just about keeping yourself busy, it’s about making sure you feel fulfilled. Read on to learn how to overcome this common retirement challenge so you can live the retirement of your dreams.

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How to Prevent Entitlement in America’s Children When a Trillion-Dollar Wealth Transfer is Underway

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The United States is in the midst of a massive wealth transfer from Baby Boomers to Gen Xers and Millennials – to the tune of $30 trillion, in fact. In light of this, many parents are wondering how to ensure their children feel empowered by their inheritance, without adopting a dangerous sense of entitlement. Below we’ll explore four proactive strategies for avoiding uncomfortable family scenarios that can develop when adult children know there’s guaranteed money in their future.

The subject of money and inheritance can be seen as taboo in many families, whether there’s a great deal of money in the family or not. A 2015 survey by U.S. Trust (now Bank of America) showed that one-third of high net worth and ultra-high net worth adults intentionally did not discuss family finances with their children out of fear that it would create a negative work ethic. Additionally, a full 20 percent said they had been taught as children that it was not appropriate to talk about wealth. How, then, will these families address the very real concerns that arise when wealth transfers to the next generation? The four action steps below offer a place to start.

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