To effectively preserve and grow one’s wealth requires a comprehensive and well-thought-through plan. This is especially true when trying to manage newfound wealth such as an inheritance, an insurance or divorce settlement, or proceeds from the sale of a business or property.
Liquidity in the securities markets is an important concept for investors to understand. It refers to how easily or quickly a security can be bought or sold in a secondary market without affecting its market price. Liquid investments can be sold readily and without paying a hefty fee to get money when it is needed. Illiquid investments are the opposite and cannot be easily sold or exchanged for cash. Some examples of liquid investments are most publicly traded stocks, exchange-traded funds (ETFs), and some government bonds. These investments have high…
Silicon Valley Bank (SVB), the nation’s 16th largest bank, failed and was closed by the California Department of Protection & Innovation and the FDIC on Friday. This is the second largest bank failure in U.S. history and the largest since that of Washington Mutual during the Great Recession. What happened and what are the implications for other U.S. banks? SVB was founded almost 40 years ago and had become a centerpiece of finance in the technology and life sciences industries. The firm was often associated with early-stage startups, providing banking…
On February 3, 2023, a Norfolk Southern train including 149 cars derailed in East Palestine, OH. The derailment included 38 railcars, 11 of which were tank cars carrying hazardous materials. Toxic gases were released and burned after the accident to prevent an uncontrolled explosion. A 1-mile evacuation zone was implemented affecting up to 2,000 residents. There were no reported fatalities or injuries. The hazardous materials included vinyl chloride, used to make PVC, which is known to cause cancer. There are many ways to analyze the accident. Of course, we have…
The financial plans we prepare for our clients focus on helping them achieve their own distinctive goals and objectives. Many clients’ foremost concerns are either centered around devising tax efficient investment and cash flow strategies or developing an estate plan that minimizes their overall tax burden. Whether approaching retirement or currently retired, we help clients understand how existing tax rules apply to their situation. We strive to help clients establish a plan for leaving a legacy to loved ones and/or coordinating charitable gifting, while mitigating tax impacts. Additionally, we work…
