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The Defining Characteristics of Successful Entrepreneurs
We all love stories of originality and innovation. Who isn’t inspired by the entrepreneur who was willing to risk it all and, against all odds, succeeded? We all want to hear about the person with strong convictions who swam against the tide, and we want to copy the characteristics of such successful entrepreneurs. But there’s a real ... The Defining Characteristics of Successful Entrepreneurs
The Importance of Finding & Collaborating With a Team of Financial Professionals
We often speak with our clients about the need for high quality advice in all aspects of their financial life—not just investing. As a firm, our approach to working with clients on their financial independence is comprehensive and involves a multi-disciplinary team of advisors. And while many in the wealth management world pay lip service ... The Importance of Finding & Collaborating With a Team of Financial Professionals
It Matters How We Think About Work
Several years ago, the Principal Financial Group ran an advertisement showing an athletic woman in her sixties wearing a wet suit, carrying a surfboard, and delightedly heading to the shore. The question was posed “Why do we work?” and then subsequently answered, “For the freedom that a secure retirement brings.” It ended by stating, “We ... It Matters How We Think About Work
Don’t “Give Money Away” (Invest in the Community)
When financial advisors are asked why affluent investors would be reluctant to make charitable gifts, they say it’s because they don’t know if they can afford it. When asked directly, though, affluent investors cite a very different reason: They are worried their gifts will not be used wisely.* We think this makes sense. The clients ... Don’t “Give Money Away” (Invest in the Community)
Economic Productivity: Are We Missing a Piece of the Growth Puzzle?
There are two primary factors for measuring the change in economic activity in our country, also referred to as U.S. GDP: population growth and productivity growth. In other words, our domestic economy grows as the result of two factors: more people demanding good and services (population growth) and increased economic output per person (productivity growth). ... Economic Productivity: Are We Missing a Piece of the Growth Puzzle?
Falling Interest Rates: A Bond Update
Medium and long-term interest rates in the U.S. have fallen precipitously in the past month. Indeed, the yield on the 10 Year U.S. Treasury Bond has fallen from over 2.55% in early May to just above 2.07% today. A confluence of factors are at least partially responsible for falling interest rates: increasing trade tensions with ... Falling Interest Rates: A Bond Update
Estate Planning Questionnaire: 5 Things to Think About Before Meeting with Your Estate Attorney
Estate documents should be reviewed regularly to ensure that they are up-to-date and still adequately express your wishes pertaining to the distribution of your estate. Changes in your personal, family, or business circumstances along with changes in tax laws can necessitate the need for updates. At a minimum, beneficiary designations on retirement accounts and life ... Estate Planning Questionnaire: 5 Things to Think About Before Meeting with Your Estate Attorney
Managing Income Streams for Retirement
When approaching retirement, many families focus on their ability to reach financial independence based solely upon their investment holdings and savings. While their investments are, of course, an important part of their overall financial picture, they are not the only factor in the retirement equation. What families often miss is the contribution of the various ... Managing Income Streams for Retirement
Personal Finance Needs to Be Personalized: Why Rules of Thumb Are Misleading
If you are trying to figure out how much you need to save for retirement or determine how much life insurance you should have, financial rules of thumb can be a helpful starting point. But as your situation becomes more complex and your level of wealth grows, rules of thumb can go from being helpful ... Personal Finance Needs to Be Personalized: Why Rules of Thumb Are Misleading
The Proprietary Product Dilemma: Why Families Should Prefer Independent Advice
For high net worth families, one of the many pitfalls that is not often discussed when hiring and evaluating a wealth advisor is the use of “proprietary products” in their investment portfolio. The use of proprietary mutual funds is very common in the investment industry. Here is how it works: a family hires a bank ... The Proprietary Product Dilemma: Why Families Should Prefer Independent Advice
What Business Owners Need to Know to Successfully Transition
According to a survey from PriceWaterHouseCoopers, 3 out of 4 business owners surveyed said they “profoundly regretted” selling their company. Watch this 2-minute video to learn about how we work with business owners to prepare for transition into retirement. You can also read our case study to get more details on our process. GET A SECOND ... What Business Owners Need to Know to Successfully Transition
U.S. Economy Continues Strong Growth
The U.S. economy grew by an annualized rate of 3.2% in the first quarter of 2019, according to the Bureau of Economic Analysis in late April. The growth was surprisingly strong, as the consensus estimate of Dow Jones-polled economists had estimated a Q1 growth rate of 2.5%. The reading from the first quarter inspired confidence, ... U.S. Economy Continues Strong Growth