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.
Top 3 Wealth Preservation Tactics
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 […]
Should I Convert My Retirement Account to a Roth IRA?
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 […]
How a Financial Advisor Can Help You Plan for Longevity Risk
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.
How To Manage Your Finances During COVID-19 Market Volatility
The COVID-19 pandemic has caused a great deal of economic distress throughout the U.S., including major declines in the broad-based stock market indexes like the S&P 500. That index started tumbling in early March and reached bear market territory shortly afterward. (A bear market is defined as 20 percent or lower from market highs.)
Do Your Retirement Savings Need a Fresh Start?
As the middle of the year approaches, it may be a good idea to review aspects of your financial plan to assess whether they need a fresh start. Look at the performance of your 401(k)s and individual retirement accounts, for example. You need to make sure you are on track for a comfortable retirement that […]
Are Your Investments in Sync With Your Goals?
Since March, many people have been scrutinizing their investments anew. Broad-based stock market indexes like the Dow Jones Industrial Average and the S&P 500 have been volatile due to economic news surrounding the coronavirus pandemic. Investments in the stock market may have seen sharp fluctuations in value.
5 Questions to Ask Your Financial Advisor
Whether you’re new to the world of investing or have experience with the markets, if you are looking for a financial advisor, there are some important questions you should ask before making the commitment.
Do I Need Personalized Wealth Management?
Personalized wealth management means working with a financial planner or investment advisor toward your goals, utilizing financial planning, investment management, retirement planning, and other services.
How Your Financial Advisor’s Retainer-Based Fees Benefit You
Whether you’re currently looking for a financial advisor or already working with one, you may have questions about the retainer-based fee structure. This structure offers numerous benefits for investors, and may be more advantageous than working with a commission-based financial advisor, one who charges a certain percentage of assets under management (AUM) for advice or […]
Five Top Reasons To Make an Estate Plan
Nationwide, just 42 percent of Americans have the documents that make up an estate plan, such as a will. In other words, millions of adults throughout the U.S. are walking around without any plan for who should receive their assets if they pass away, or even what will happen to them should they become incapacitated […]
Retirement Planning Utilizing Monte Carlo Simulation
Many different methods can be utilized in retirement planning, for example the Monte Carlo simulation. Named after the European gaming capital in Monaco, the Monte Carlo simulation is a method of running retirement scenarios multiple times with multiple variables to obtain a sense of the various scenarios that can affect your nest egg on the […]