How to calculate your first RMD? Most people have heard about RMDs in passing yet are not quite sure what, exactly, this acronym stands for. RMD is short for required minimum distribution. RMDs are the amount of money an individual must withdraw every single year from his or her retirement plan account after reaching 72 […]
Investing in your life for post-retirement is one of the most important things you can do for both yourself and your loved ones. And whether you’re retired, newly retired, or almost retired, knowing how to avoid costly mistakes with your investments is an important part of retiring comfortably.
High net worth investors need a strategic overarching plan to maximize the value of their portfolio in the months, years, and decades ahead. While a fairly simple game plan for investing may suffice for some people, those who have achieved a high net worth need a comparably complex plan. After all, when you reach high […]
For high net worth individuals and families planning is a necessary component that puts them on track to reach their financial goals. Those with a high net worth often work with financial professionals that specialize in working with them as they typically have different priorities when it comes to their investments, portfolios, and estate plans.
Do millionaires have special financial planning needs? Yes. Large amounts may be placed in many more types of investments and accounts than those of folks with lesser discretionary income, and these can be complicated to manage.
What does it mean to be wealthy? There’s no shortage of answers, and frankly, it means different things to different people. High net worth retirement planning not only encompasses investments and money but it also includes less tangible factors such as life experiences, charity, and legacy.
Asset allocation decisions are among the most important choices about investment and retirement portfolios facing high net worth (HNW) individuals. (HNW is generally defined as $1 million or more in assets, excluding real estate.) Why? Because asset allocation decisions, performed correctly, both drive robust returns and protect your capital against erosion.
High net worth (HNW) individuals are defined as those with liquid assets of $1 million or more. Ever wonder how high net worth retirement planning works or how HNW folks keep that much money? To some degree, they follow sensible investing principles that all investors should follow, such as not spending above their (elevated) means and following a long-term plan. But […]
If you’re a high net worth individual, you have the assets in place to facilitate a comfortable retirement. At the same time, there are plenty of potential pitfalls and you will face additional challenges that the average person doesn’t encounter.
Wealth preservation is an essential part of comprehensive financial planning. As the average life span has lengthened in the United States over the last 70 years, people are living longer. As a result, retirees are very concerned with preserving wealth throughout what could be a 30- to 40-year retirement, or even longer. The rising costs […]
As part of your retirement planning, you may be wondering whether you should convert some of your retirement accounts to a Roth Individual Retirement Account (IRA)? It’s possible to convert traditional IRAs, traditional 401(k)s and Roth 401(k)s to Roth IRAs, but you should factor in your age, retirement plans and both current and potential future […]
Longevity risk, simply put, is the risk that you will outlive your retirement savings. Longevity risk is a worry for many people. After all, none of us wants to think of reaching 75, 85, 95 or more and facing $0 in either our bank accounts or our investments.