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Pearls of Wisdom: Wealth Preservation for High-Net-Worth Women

Wealth preservation is essential for high-net-worth (HNW) individuals, but it warrants a gender-specific focus, too. Particularly for HNW women, understanding the complexities of wealth preservation is crucial. Whether due to inheritance, accomplishment in the corporate world, or entrepreneurial fulfillment, more women today find themselves in the ranks of HNW individuals.   What makes a woman’s […]

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Why Your Credit Score Matters in Retirement

Regardless of the stage of life, your credit score is an essential component of your financial health when you’re in retirement. A consistently strong credit score can pave the way for greater confidence, easy loan access, and lower interest rates. Many retirees overlook the importance of maintaining a suitable credit score after they stop working […]

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How Portfolio Diversification Can Be Sweet Like a Box of Chocolates

In the world of investing, risk and reward go hand-in-hand. To help manage risk and reward, investors often utilize a portfolio diversification strategy that mitigates risk while working toward accumulation across asset classes. Diversification mitigates the potential for unsavory pitfalls while offering a variety of suitable outcomes. In this article, we explore portfolio diversification by […]

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You’re About to Retire: Here are 7 Tips to Stay Independent

Independence is important in retirement. The more independent retirees are, the more fulfilling their retirement is likely to be. However, living independently as you age isn’t always easy and may take some degree of planning well before you are even ready to retire. Want to ensure your chance of living independently during your retirement? Below […]

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Health Is the New Wealth: HNW Individuals, LTC Insurance and Healthcare

A perspective shift occurs in the wealth landscape; many now recognize health as the new wealth. Healthcare, long-term care (LTC) insurance, and other wealth-related financial instruments have become essential considerations for HNW individuals. In this article, we discuss understanding health as an invaluable asset, the necessity of LTC insurance, and the healthcare needs and considerations […]

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Investing in Black-Owned Businesses

There’s a growing recognition of the importance of diversity and inclusion, particularly when it comes to where Americans spend and invest their hard-earned dollars. Individuals may increase inclusion by investing in and patronizing Black-owned businesses. Beyond promoting social equality, investing in these enterprises may present opportunities for investors seeking financial returns that go hand-in-hand with […]

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4 Tax Planning Tips for High-Net-Worth Families

Tax planning might be complex, but it’s also essential—especially for high-net-worth families, where missing tax breaks or failing to optimize income could cost significant dollars, maybe millions, over a lifetime. And even in the short term, with the highest marginal federal tax rate sitting at 37% for 20241 (plus additional state and local taxes), a […]

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5 Financial Bad Habits to Cut This Year

When it comes to financial bad habits, the most common are also well known — don’t spend too much, don’t take on unsustainable debt, and avoid living paycheck to paycheck. But what happens once you’ve implemented this advice and still aren’t getting ahead? Here are five overlooked financial bad habits that could be draining your […]

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Why Business Owners Need Financial Planning

If you’re a business owner, you are likely the Chief Everything Officer at work and have many responsibilities. A business owner’s situation is unique since they are asset-rich and cash-poor since their wealth is in their business-literally. Regardless of the income a business generates, the ages of the owners, or how many employees it has, […]

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A Look at Tax Planning for Retirement

After years of saving and planning for their golden years, many people nearing retirement fail to consider the tax burden they may face on income they receive after they stop working. While you will likely see a reduction in the amount of taxes you owe after the age of 65, you still need to plan […]

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5 Tips for Navigating Medicare in Retirement

One of the main concerns about retirement is health care. As healthcare costs continue to rise, medical bills may quickly derail your retirement plan. The good news is when you turn 65, you will be able to apply for Medicare, which provides you with coverage for some of the larger bills you may face during […]

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5 Common RMD Mistakes That Could Ruin Your Retirement

As age 73 nears, it is critical that you begin considering how you want to handle the required minimum distributions (RMDs) you are obligated to withdraw from your tax-advantaged retirement accounts, including 401(k)s, 403(b)s, 457s, and individual retirement accounts (IRAs). According to US New Money, 62% of Americans aren’t even aware that they have to […]

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5 Tips for Saving and Investing as a Small-Business Owner

As a business owner, putting all your profits back into the business may be tempting, especially during the lean years. However, when it comes to saving and investing as a business owner, there are other paths you could consider for the long run without so much emphasis on the short term. Maintain Liquid Assets Everyone […]

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High-Net-Worth Individuals and the Benefits of Philanthropy

High-net-worth (HNW) individuals have investable assets of a million dollars or more. Their substantial monetary resources often put them in a position to contribute monetarily and significantly improve society. The value of philanthropy extends far beyond the immediate beneficiaries of the HNW individuals’ contributions. Their philanthropic endeavors not only aid the recipients of their generosity […]

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LTC Planning for High-Net-Worth Families

Long-term care (LTC) planning is a significant financial decision that requires thoughtful consideration and precise planning. This undertaking can be more complex for high-net-worth families due to a more extensive and diverse asset base and other considerations. LTC costs can unravel even the most thoughtful financial plans if not planned for, undermining suitable wealth management […]

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