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cybersecurity

Cybersecurity Best Practices: Staying Vigilant During the Russia-Ukraine Crisis

By and Blog
While following cybersecurity best practices is always important, there are often events that bring the importance of these measures back to the forefront, and the ongoing Russia-Ukraine conflict is no exception. In addition to committing devastating physical acts of war in neighboring geographies, the Russian government has also proven itself capable of malicious cyberactivity, which could potentially extend far beyond any nation’s borders. From attacks on energy to interruptions in supply chain and even breaches in financial data, the scope of cyber threats continues to expand, so it’s more crucial than ever to remain vigilant and take preventative steps to…
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market volatility

How Should I React to Market Volatility?

By Blog
After years of positive market performance, newer investors are seeing for the first time that markets do not go up in a straight line. While we saw a correction in March of 2020 when the start of COVID spooked markets and investors, the recovery was swift. We are now seeing more volatility, so clients are asking, “What should I do?” Stay the Course Creating and sticking to a financial plan – a road map of where you are and want to be financially – will keep you from making knee jerk moves in response to market volatility and declines. It’s…
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inflation

Puncturing Inflation

By Blog
“We don’t really know what it is, we don’t really know what causes it, we don’t really know how to measure it, but we really know we’re worried about it!” The stock market is never happy unless it has something miserable to complain and worry about. Having moved on incredibly quickly from a worldwide pandemic, the chattering investor classes have retrained their sights on that old 1970s bugaboo, “inflation.” As you can tell from the cumbersome subtitle, inflation is the most confusing and misunderstood investment concept that we think about. Every policy maker, every economist, and every investor has a…
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financial planning medical

How Medical Professionals Can Build a Solid Financial Plan

By and Blog
The pandemic has been taking a grueling toll on medical professionals. According to a recent survey, more than 73% of physicians reported feeling overworked, and more than 30% reported that they are looking for another career or considering retiring early as a result. Additionally, nearly one in five health care professionals has already quit since the pandemic began. Even if you’re not at your wit’s end with your job, you may want to be certain that you could quit if you wanted to, and that you will be able to retire when the time comes. But you likely also have…
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What Corporate Executives Should Know About Their Equity Compensation

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You work so hard to drive company performance, and your success and accomplishments provide additional compensation through your company’s equity-based compensation plan. Unfortunately, this method of compensation adds complexity that needs to be fully appreciated, not only by you, the employee, but also by your spouse or others with whom you share your life. Our careers offer an opportunity to live an amazing life of significance, and equity-based compensation is a powerful part of the way executives are rewarded. Importantly, you will need to be prepared for the many decisions that come along with grants of company stock and options.…
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When Is the Right Time to Hire a Financial Advisor?

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Many people think you shouldn’t hire a financial advisor until you have accrued a great deal of assets.  However, that’s not necessarily true. In reality, it’s never too early to start securing your financial future. That said, there are certainly some milestones that strongly indicate it’s time to partner with a financial advisor and begin planning your path to long-term financial freedom. Keep reading to learn five key indicators that may mean it’s time to look for a financial advisor.  1. You have disposable income. Maybe you recently paid off your student debt or car loans and suddenly have more…
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incentive stock options ISO

What Are Incentive Stock Options (ISOs)?

By Blog
All of today’s largest, blue-chip companies began as the small start-ups of yesterday. Some created entirely new industries, like Google and Netflix, or drastically altered them, like Tesla and Rivian. Most, if not all, grew to become the names we recognize today through equity-based compensation, enriching their founders, executives, and early employees alike (along with investors). A key part of equity compensation, particularly for earlier stage companies, is incentive stock options (ISOs). Incentive Stock Options (ISOs) – Defined ISOs give employees the right, but not obligation, to purchase company stock at a hopefully lower grant price, compared to the fair…
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cliff

Mitigate New York’s Estate Tax Cliff with Smart Estate Planning and Gifting Strategies – 2022 Update

By Blog
While the large increase in the federal estate tax exemption has provided many with federal estate tax relief, New Yorkers must continue to plan for New York estate tax. For a quick review of the New York Estate Tax “Cliff” basics, see the “Understanding New York’s Estate Tax “Cliff” blog post. What is the current exemption from New York estate tax again? The current New York estate tax exemption amount is $6,110,000 for 2022. Under current law, this number will remain until January 1, 2023, at which point it will rise again with inflation. Who does the Cliff affect? Everyone…
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tax law changes

Estate Planning in Light of Current Law: Your Questions and Our Answers – 2022 Update

By Blog
This post will help you consider estate planning strategies in light of the current federal estate, gift and generation skipping transfer tax exemption, which in 2018 increased to $11.18M and has been indexed for inflation each year since then. However, the exemption amounts are scheduled to revert back to the pre-2018 exemptions (indexed for inflation) when the clock strikes midnight on January 1, 2026. Remind me what the numbers are. Below is a basic chart outlining the numbers (per person) pre-2018 as compared to the numbers currently. Remember these numbers relate to federal estate tax. We will discuss state estate…
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gst tax

Basics of Federal Estate, Gift, and Generation-Skipping Transfer (“GST”) Tax – 2022 Update

By Blog
The bad news is that there is a federal tax on assets that you give away during life, at death, and to individuals two or more generations below you. The good news is that this tax will only apply to the wealthiest Americans and, even so, there are strategies you can use to minimize or avoid its application. The federal estate, gift and GST tax only kicks in above a certain dollar threshold. Furthermore, there are additional wealth transfer strategies that do not trigger any tax at all if structured properly. Taxable Gifts There is a federal estate and gift…
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