5 Ways to Incorporate Unexpected Cash in Your Financial Plan
Receiving an unexpected sum of money can be a welcome surprise, but deciding what to do with it can be a challenge. Should you save the money or pay down debt? Invest the funds or donate to charity? While rushing to book a vacation with proceeds from a windfall may be tempting, it might be […]
Do You Need a Family Financial Summit?
A Family Financial Summit might be a new concept for many of you, so let’s start by defining it before delving into whether or not you need it. Essentially, it’s a family meeting that allows for the sharing of financial values and goals. It can be helpful in aligning expectations about inheritance, responsibilities, and the […]
Retirees, What’s Your Withdrawal Strategy?
When planning for retirement, we often focus on the accumulation phase: saving diligently and investing wisely. We spend 40 or more years of our lives focused on building the proverbial “nest egg,” but after retirement, things change and so should our financial focus. There are a variety of questions that must be answered. How much […]
The Never-Ending Pursuit of Money
What would it be like to be ultra-wealthy? Would it mean homes in Hawaii and Paris? Do you envision sailing a luxury yacht across the Mediterranean? What about chartering a trip to space? While it is fun to imagine, this is not the reality for most of us. You might have heard the term “Ultra […]
How a Financial Advisor Can Help Lower Your Tax Bill
Tax planning is a vital part of any wealth management strategy, but reducing your tax burden is not always a straightforward process, especially for individuals with more complicated returns. Careful planning can help minimize your tax liability leaving you with more money to further your financial goals. Tax planning is not just something you think […]
Protect Your Children From Their Inheritance
Wealthy families often find themselves grappling with how to effectively pass along assets to their children while ensuring those children are ready for the responsibility. As we tread towards the largest generational wealth transfer in history, there is a growing need to ensure those inheriting the assets are adequately prepared to handle them. There are […]
Answering Your Kids Toughest Money Questions
Kids ask tough questions about money. It’s how they learn. As a parent, these are teachable moments that offer a chance to impart some financial wisdom to them. Start by asking them questions for clarification. After all, “Why does a lawyer always answer a question with a question?” Answer: “Why shouldn’t a lawyer answer a […]
3 Lesser-Known Milestones as You Enter Retirement
As you may already be aware, the earliest someone can begin drawing Social Security benefits is at age 62. As you enter the red zone for retirement or perhaps are already retired, I want to share 3 less common retirement age milestones that are important pieces of your overall financial plan. The first of these […]
Wealth Concentration Risk
Simply put, Concentration Risk is having too much of your net worth tied up in one investment. The investment could be an individual stock-we see this a lot with equity compensated folks that receive stock options. Another example could be real estate which is also common. At Marzano Capital Group, our general rule of thumb […]