Wealth Management, Finance & Investing Blog

Written and compiled by 2023 Summer Marketing Intern Juliana Tabback For several years now, Wealthspire Advisors has hosted an 8-week summer internship program that welcomes rising college seniors and those with extensive interest in the wealth management world. Starting with only a handful of interns in a select number of offices, our internship program has expanded tremendously alongside our firm’s growth, enabling us to bring on 20 interns across the country this summer. We aim for our progr

Written in partnership with Chapter Medicare Medicare can be quite daunting. There are thousands of supplemental plans, many different enrollment periods, and various parts like A, B, C and D. It’s all too easy to make mistakes in this complex process. Unfortunately, some of these errors can have a major impact on your finances. This guide will help you steer clear of the five most common Medicare mistakes. If you need further assistance, reach out to your Wealthspire advisor. They’ll connect y

Becoming a parent is an exciting phase in life’s journey. Suddenly, you’re responsible for another tiny human being. Amid the countless decisions and preparations for this new adventure, taking some time, even before the little one has arrived, to plan and understand the financial challenges ahead can greatly ease the inevitable chaos. As a new parent, you can use this 5-point checklist to help you organize your financial priorities. 1. Add Your Newborn to Your Health Plan One of your first res

My wife and I purchased our first home seven 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 succeeded in acquiring our new home amidst fierce competition. We managed to outbid seven competing offers after spending only 20 minutes at an open house on the first day it hit the market. The experience was undeniably stressful, but we ultimatel

As you embark on this exciting new chapter in your legal career, it is essential to familiarize yourself with the financial aspects of partnerships, particularly capital accounts and draw accounts. These will be your main sources of income and working capital for your life as you grow into your new role. The Importance of Capital Accounts Capital accounts play a crucial role in a law firm partnership and represent your financial stake and equity in the firm. Your initial capital contribution si

As you embark on this exciting chapter of your legal career, along with avoiding lifestyle creep, estate planning considerations, and learning how to maximize financial success, it's crucial to make informed decisions regarding your healthcare plan. There are several important factors to consider when choosing the right healthcare plan and using healthcare services in a cost-effective manner. Understanding Healthcare Costs The rise in popularity of high deductible health plans has shed light on

The early years of a successful athlete’s career are a thrilling time for both the athlete and their families. Change comes swiftly and often, with a lot of important life decisions to make in succession. For a spouse or family member, it can sometimes feel like they’re just along for the ride. The circle of trusted voices around your loved one increases, advice comes from many directions, and sudden wealth can feel overwhelming. As a spouse, parent, or family member, understanding the right qu

Natural disasters are unpredictable, and evacuation notices can sometimes come so quickly that it leaves us little time to prepare and to gather important documents that we'll need in case of property loss. With the ongoing effects of the Canadian wildfires prompting air quality alerts in 13 states in the Northeast and Atlantic and the 2023 fire season kicking off in California, our goal is to help our clients prepare in advance for these unforeseen events. At Wealthspire, our top priority is t

For many partners at top law firms, their earnings represent the first time in that person’s family history that such wealth has been generated. With this first-generation wealth creation comes certain challenges like budgeting to maximize success, avoiding lifestyle creep, and navigating healthcare plans, but there are also many opportunities. As a partner in a law firm, they now have additional financial and tax responsibilities that they may not be fully aware of. Many focus on financia

Lifestyle creep, or lifestyle inflation – when expenses rapidly rise to match newfound income – ensnares countless newly minted partners. Often there are underlying social pressures from peers or colleagues to keep up with new levels of conspicuous consumption. New indulgences and one-time splurges quickly become everyday necessities. It may begin innocently enough with a new car, a small remodel to an existing home, or a generous contribution to one’s alma mater, but it can quickly snowball in

Charitable giving is an important part of life for many clients. Whether donating money or property, dedicating time and effort, or a combination thereof, giving is a way to promote values and leave a legacy for future generations. Charitable giving can also be a valuable part of the overall financial plan, and understanding some basic ways to give can add significant economic efficiency to benefit the donor and their family for the long-term. On the strictly financial side, the 2017 Tax Cuts a

For many of us, our pets are beloved members of our families. They bring companionship and happiness, and like our human family members, they come with their own needs that require financial consideration. According to the 2021-2022 National Pet Owners Survey by the American Pet Product Association, the majority of American households (about 70%) have pets today.[i] Though in the past it may not have been the norm to provide for our animals in our estate planning, times have changed. Pet trusts