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Thinking of Engagement? 15 Financial Questions to Ask Before Getting Married

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When two people who are both professionals consider getting engaged and married, it is imperative that they first consider their finances. Some entrepreneurs, business owners, and high earners (or their parents) will want a pre-nuptial agreement. Whether you are in a position of wealth or just starting out, there are many questions that should be discussed before walking down the aisle. The first set of questions involves current finances: How much do each of you make? How much have each of you saved? Do you both have retirement plans? Are you contributing to 401(k) plans at work? Are each of…
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risk tolerance

Understanding Risk Tolerance

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There is always something to be uncertain about and one does not have to look very hard to find negative headlines. This is part of why investing can seem so difficult, even in periods of relative calm. It becomes even more challenging during times of elevated turmoil. Having a well thought out investment plan and portfolio that aligns with your goals can help you stay the course. Part of this preparation includes understanding and accepting that a certain level of risk must be taken. Those who have the discipline to stick with their plan tend to be the most successful…
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summer reading list

Summer Reading List 2021

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Now that school is out and a holiday weekend is just around the corner, some may be looking to brush up on their summer reading. This set of recommendations comes from three of our advisors who found these books to be enjoyable, edifying, and well worth the read. Enjoy! “Uncharted – How to Navigate the Future” by Margaret Heffernan Recommended by Laura Barry, CFP® Uncharted: How to Navigate the Future is a great read for those who experience worry about their future, especially for those who constantly seek certainty. In her book, former CEO and TED speaker Margaret Heffernan gives…
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divorce

Why You Shouldn’t Wait Until After Your Divorce to Meet with a Financial Advisor

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You are divorcing. You have a million things to think and worry about. Your divorce professional (whether it be a matrimonial attorney, mediator, or collaborative lawyer) is asking for all kinds of information and documentation. You are worried about your kids and custody. You are worried about whether you will stay in your home. You are emotionally raw and trying to hold it all together. The last thing you want to think about is your financial plan. But that is one of the most important aspects of divorce. Aside from custody, divorce is often about the money. Going through a…
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mortgage invest estate plan

Financing Your Home: What to Expect When You’re Taking on Debt

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My wife and I purchased our first home five years ago, which was not nearly as fun as an episode of HGTV’s House Hunters makes it out to be. After actively searching for months and putting offers in and losing out on six different houses, we finally grabbed the brass ring with our new home. To do that, we had to beat out seven competing offers after seeing the home for only 20 minutes during an open house on its first day on the market. Overall, it was a stressful experience, but we ended up with a beautiful home that…
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esg metrics

Inconsistencies in ESG Metrics

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With sustainable and impact investing assets accounting for a fourth of the total U.S. net flows in 2020, it is clear that environmental, social, and governance (ESG) investing continues to grow in popularity. Despite this rapid interest in ESG investing, the data remains inconsistent, and investors are wondering what metrics to use to measure ESG results. In this blog, we detail the current landscape of ESG metrics, explain how we at Wealthspire evaluate funds in this space, and provide resources that can be used by the everyday investor. What is Impact Investing? Aligning investment portfolios with personal values can come…
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working moms

Farewell, June Cleaver

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In 2020, we saw American motherhood shift into an insane multi-tasking circus which included our normal work, but now at home, coupled with virtual schooling for our children, on top of our everyday household duties. It was wild (to say the least) and before I go any further, I would like to give every single mom a round of applause! As the nation starts to make gradual shifts back to in-office working, I am reminded of the good old 1960s sitcom, “Leave It to Beaver,” in which working Dad, Ward, always managed to get home in time for dinner to…
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laddering life insurance

Laddering Life Insurance to Reduce Costs

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A Brief History of Life Insurance Life insurance is a powerful tool in wealth management with a long history dating back to Ancient Rome. Roman soldiers participated in “burial clubs,” in which members pooled resources to help pay funeral costs for the deceased. The actuarial tables used by insurance companies today to help determine policy premium costs have their origin dating back to the 1700s. Life insurance, like any type of insurance, transfers a catastrophic risk away from you and your family to an insurance company. Here the catastrophic risk is your premature death and the loss of your earnings…
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fixed income investing rising rate

Fixed Income Investing in a Rising Rate Environment

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Expected future returns for the prototypical equity/fixed income portfolio have been coming down for the last few years as valuations of each of the two asset classes therein have become increasingly expensive. For fixed income investors, this has merely been an extension of a longstanding bull market which has seen the yield on the 10-Year U.S. Treasury Note decline from over 15% in the early 1980s to as low as 0.52% in August of 2020. Since that time however, improving prospects for economic growth, largely driven by the successful development of multiple COVID-19 vaccines, have driven bond yields higher by…
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child tax credit

The Child Tax Credit: 2021 Updates

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The Child Tax Credit has existed in many forms over the last 20 years, but the changes implemented by the American Rescue Plan Act of 2021 have expanded the program significantly. It is estimated that more than 93% of children, ~69 million, will receive benefits under the new plan. The new credit will not impact all families equally and currently only applies to the 2021 tax year. In 2020, each child under the age of 17 claimed as a dependent on a parent’s return could qualify for a credit of up to $2,000. This credit was implemented under the Tax…
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