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Financial Planning Archives | Page 3 of 14 | Wealthspire | Page: 3

employee benefits

Employee Benefits: Understand and Maximize Your Options

By Blog
While salary is one of the most important employee benefits to consider for any job, it certainly isn’t everything. Whether you’re evaluating job offers or simply reviewing options at your current workplace, understanding everything available to you is the key to properly evaluating a job opportunity and ensuring that you don’t leave anything on the table. Though many of our clients and readers are well-versed in their own benefits options, it can be challenging to consider all angles of a benefits package at the early stages of your career, or conversely, difficult to re-assess as life progresses and your needs…
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avoid outliving assets

How to Avoid Outliving Your Assets

By Blog
According to the Social Security Administration, average life expectancies for current retirees are now 86.5 for women and 84 for men. While this means people can expect to enjoy more than 20 years in retirement, it also means that their retirement savings must sustain them for decades. But for many, the idea of living off one’s savings is terrifying and leads to fear of outliving their assets. In its 2019 “Retirement Planning Survey,” Financial Advisor Magazine reported that 45% of advisors said outliving assets is one of the biggest threats that their clients face in retirement. Another 2019 study from…
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planning covid

Ways to Take Financial Action During the Pandemic

By Blog
The sweeping impacts of the COVID-19 pandemic have upended all of our lives in different ways. Given the seriousness of the situation and for many, a new work from home reality, there has never been a better time to re-examine you and your family’s financial plan. We have written about the need for financial planning given unexpected situations such as incapacitation before, but given this unique situation and the passage of the CARES Act, we feel it is necessary to return to a few key planning opportunities. Review Estate and Incapacitation Documents Use this opportunity for a complete review of…
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concentrated stock

Balancing the Risks & Rewards of Concentrated Stock in Your Portfolio

By Blog
It’s been proven that a well-diversified portfolio can be crucial in attaining long-term financial goals – spreading your investments across asset classes balances the risk and reward inherent to any one specific asset. However, if your current or previous benefits package includes company stock, you may find that this creates a concentrated position in your portfolio, a risk that could potentially derail your financial plan. While concentrated stock can generate significant wealth for a successful company’s executives and employees, it also brings added risk to their financial plans. An investment plan that lowers your risk profile while maximizing returns must…
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planning opportunities

Planning Strategies to Consider in a Volatile Environment

By and Blog
While the Coronavirus pandemic has brought its share of fear and anxiety, it also brings some favorable financial planning opportunities that can be of significant benefit for you and your family. Below are some opportunities to consider. 1. Harvesting Capital Losses: An approximate 20% decline in equity markets from the early year high, along with volatility in sectors of fixed income markets have caused security values to decline.  As we periodically rebalance portfolios, in taxable accounts we look to realize capital losses and replace sold positions with similar, but not identical, securities to maintain desired exposures. When we “harvest” capital…
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CARES Act

Details of Newly Passed CARES Act: Welcome Relief Plus Planning Opportunities

By Blog
The Coronavirus Aid, Relief, and Economic Security Act (CARES) was signed into law on March 27, 2020 and provides $2.2 trillion in stimulus to help the economy recover from the dramatic changes brought on by the COVID-19 pandemic. The Act is designed to offer individuals and businesses significant flexibility to recover from the anticipated recession as parts of the economy are forced to slow or shut down. Details of the Act’s provisions concerning individuals and small businesses are included in the sidebar. To put this into context, this $2.2 trillion is sizable relative to the $20 trillion United States GDP…
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intra-family loans

Intra-Family Loans: A Powerful Gifting Strategy

By Guides & Whitepapers
One of the most flexible and powerful gifting techniques is to loan money to other family members, especially in a period of low interest rates. The reason intra-family loans work is simple: on average, the person receiving the loan should be able to invest the money received in a way that produces a rate of return greater than the interest rate on the loan. Thus, when the borrower returns the loaned money at the end of the loan’s term, he will be able to keep this excess return. Because the money was loaned, and not gifted, this excess is tax-free,…
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file divorce

Determining Where to File for Divorce

By Blog
In most situations, you will file for a divorce in the state in which you and/or your spouse live. If you and your spouse own property in different states or you live apart, you might be able to select the state in which to file. In those situations, you and your attorney should evaluate the respective states’ divorce laws to determine the best choice. Among the items to consider are the length of time it will take to grant a divorce, the age of majority used in determining how long a parent is required to pay child support (for some…
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