Sudden wealth can be an exciting and overwhelming experience. Whether you’ve sold a business, received an inheritance, or won a large sum of money, the opportunities are endless. But if you’re, like many high-net-worth individuals, this sudden influx of money also presents some critical decisions that need careful consideration. As a Certified Financial Planner (CFP®), […]
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And 9 Actionable Tips When you’ve spent decades building your wealth, the last thing you want is for an unforeseen event to unravel everything. High-net-worth individuals, particularly those aged 40-70, face unique risks that can threaten their financial security. In this guide, we’ll explore practical ways to safeguard your wealth from unpredictable challenges. Whether it’s
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Understanding the Significance of Unexpected Wealth As a Certified Financial Planner (CFP), I’ve seen firsthand how unexpected wealth can transform a person’s life. It often comes in the form of a sudden inheritance, the sale of a business, or a successful investment. While these events are usually positive, they can also be overwhelming. For example,
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Introduction Budgeting tips for a non Budgeter. Budgeting is often seen as a necessity for those with limited financial resources, but even high net worth and high earning individuals can benefit significantly from a well structured budget. This guide is for you if you consider yourself a non budgeter, and want some quick tips for
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Common mistakes to avoid when saving money is a fundamental aspect of financial planning, yet even the wealthiest among us can fall into common traps that hinder their financial growth. As a certified financial planner, I’ve seen firsthand how high net worth and high earning individuals, particularly those aged 30-70, can make mistakes that are
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As a financial planner, I’ve had countless conversations with clients about building emergency savings. High earners or those with significant assets often think they’re immune to financial disruptions. But, having a solid emergency savings fund is just as crucial for someone with a six-figure income as it is for anyone else. Let’s dig into why
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As a high earner, you’re likely always on the lookout for ways to maximize your after tax returns. Let’s explore some advanced strategies that can help you keep more of your hard earned money. Tax Efficient Investment Strategies to Maximize After Tax Returns One of the most effective ways to boost your after tax returns
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As you approach or enter retirement, Required Minimum Distributions (RMDs) become an important financial milestone. Understanding what factors influence your RMDs can make a significant difference in how much you pay in taxes, how you manage your retirement income, and how you preserve wealth for your heirs. In this insight we will take a look
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Retirement planning can feel like walking a tightrope. Balancing today’s tax strategies against tomorrow’s needs. I’ve seen countless clients wrestle with one question: Which is better: Traditional IRA or Roth IRA? As someone building assets or if you have significant assets, this decision isn’t as simple as picking one based on a quick online search.
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As you approach retirement, Required Minimum Distributions (RMDs) become an unavoidable part of managing your retirement accounts. Whether you’re a high earner or have accumulated significant savings over the years, it’s essential to approach RMDs with a clear strategy. The decisions you make now can significantly impact your tax liability, legacy, and overall financial health.
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