There was a recent report from the Employee Benefit Research Institute on an analysis of retirement accounts using the 2018 Survey of Consumer Finances. According to the analysis, a $5 million retirement nest egg puts you in the top 0.1% of households. Then, the question becomes: what does $5 million buy you in retirement? What is the best use of that money?  If you’re looking for the best ways to allocate your retirement savings, reach out to us. We might be able to help by pointing you toward options you weren’t previously aware of. Want to secure lifetime income for

If you own a small business or family office you could be required to report ownership details to the federal government… or face stiff penalties and possible jail time. The Corporate Transparency Act went into effect on January 1, 2024, and it requires otherwise unregulated companies to report information about “beneficial” owners, those who own at least 25% of or exercise substantial control over the reporting company, to the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN). Failure to comply could result in fines of up to $10,000 and imprisonment.  This sounds scary, especially because this new law

We all know that complex estates require sophisticated estate planning. If you have a large estate or own a business, only a qualified estate-planning attorney will have the knowledge and expertise to tailor to your specific needs.  Because we have been doing business with you, we may be able to help answer some of the questions you will be asked when you meet with an estate planning attorney. Call us when you’re getting ready for that meeting, and we may be able to help you get documents and information for you, which will help you save time and money at

The younger a child is when you contribute to their 529 plan, the longer the account has to potentially benefit from compound growth. In 2023, individuals can contribute up to $17,000 per year (and couples up to $34,000 per year) without eating into their lifetime gift and estate tax exemption.  For older kids or grandchildren, you could also make tuition payments directly to the school. A benefit of doing this is that direct tuition payments are exempt from the gift tax, which may not be the case with 529 contributions beyond the annual gift tax exclusion.  If you’d like more

In 2022, social media-based scams cost Americans a total of $1.23 billion, a 54% increase since 2021, according to the Federal Trade Commission.  Typically, these sorts of scams start with someone claiming to be a mutual acquaintance of someone you know, or relative. Then, they either ask for financial assistance, or claim they can offer you help, such as providing a “new investment opportunity.” If you’re approached by someone online with an offer that seems “too good to be true,” it very well might be.