Posts by Sam Lipscomb, CEPF®
Financial Advisor
What Is a Multi-Family Office?
A family office is a financial advisor firm that provides comprehensive wealth management services to a single individual or family. A multi-family office simply expands on the same concept. Instead of working with just one family or individual, a multi-family… read more…
Financial Advisor
This Mistake Is Costing You $1,400: But You Can Fix It
A recent study done across several different age groups throughout the country revealed a troubling finding about financial literacy among Americans. The study, which surveyed a total of 3,389 adults, showed that the average adult loses about $1,389.06 annually due to… read more…
Investing
The Hidden Cost of Target Date Funds
If you’ve begun saving for retirement, there’s a good chance you’ve heard of target date funds. They’re a common investment vehicle, often used in employer-sponsored retirement plans like 401(k)s or 403(b)s. More specifically, target date funds are exchange-traded funds or mutual… read more…
Investing
Stash vs. Acorns vs. Robinhood Comparison
When it comes to investing online or on your phone, Stash, Acorns and Robinhood are three names at the top of the industry. Each was designed to simplify investing for retail investors, offering straightforward apps that are easy to use… read more…
Retirement
Empty Nester? This Avoidable Mistake Could Jeopardize Your Retirement
Saving for retirement is a lifelong undertaking. It involves keeping your retirement goals in mind as you have children, get different jobs and move from place to place. However, a recent study from the Center for Retirement Research at Boston College… read more…
Taxes
This Hidden U.S. Tax Shelter Is Not Just for the Global Elite – Want In?
Normally when you hear the word tax haven, the typical places spring to mind. The Cayman Islands, Switzerland, Panama and the Bahamas are all tax havens, but over the course of the past decade South Dakota has joined their ranks… read more…
Financial Advisor
Private Banking vs. Wealth Management
While some may use the terms private banking and wealth management interchangeably, there are important differences between them. Wealth management typically involves tailored financial planning services, investment management or a combination of both. Private banking usually entails a variety of… read more…
Retirement
4 Retirement Plans for Self-Employed People
Being self-employed has a multitude of benefits. While you can be your own boss and enjoy the flexibility and agency that comes along with this style of employment, there are certain things that aren’t as readily available. This includes employer… read more…
Taxes
Tax the Rich: Biden to End Trump Tax Cuts on the Wealthy
House Democrats have proposed legislation that could end Trump tax cuts for the wealthy and corporations. If passed, this could implement some of the biggest tax increases in decades. But while these tax changes aim to make good on President… read more…
Financial Advisor
Defining an Ultra-High-Net-Worth Individual
In order for someone to be considered an “ultra-high-net-worth individual,” they typically need to have at least $30 million worth of net investable assets to their name. However, this isn’t really a legal definition. As the name suggests, ultra-high-net-worth individuals… read more…
Financial Advisor
Financial Advisors for Social Security
When it comes to getting ready for retirement, there are many questions surrounding Social Security. Some of the most important include deciding how Social Security payments will fit into your overall retirement income plan and figuring out when to start… read more…
Retirement
Is an Annuity a Good Investment?
Annuities are popular financial products that often guarantee income throughout the course of your retirement. While you may even have access to customizable features and riders, you’ll likely have to pay high fees and may also end up taking home less than you would by investing your money elsewhere. Note that those who sell annuities often… read more…
Estate Planning
Estate Planning vs. Will: What’s the Difference?
A lot of people think that estate planning and writing a will are the same, but one is actually just part of the other. Simply put, an estate plan is a broader plan of action for your assets that may apply during your life as well as after your death. A will, on the other… read more…
Financial Advisor
What Certifications Do Financial Advisors Need?
Financial advisors are professionals who work with clients to help them with their finances and investments. Advisors may work with clients holistically to develop broad financial plans, or they can help with a narrower focus, such as estate planning or retirement. Advisors often have certifications that indicate a certain level of expertise or area of… read more…
Financial Advisor
The Secret to More Peace of Mind With Your Investments
When it comes to working with an advisor to help manage your finances, there are lots of options at your disposal. Robo-advisors, for instance, are a very popular option when it comes to getting financial advice. They are often cheaper than human advisors. However, despite the benefits of using a robo-advisor, a new Vanguard study… read more…
Financial Advisor
Want to Achieve Financial Wellness? Millennials and Gen Z-ers Should Avoid These Mistakes
While markets have boomed over the past 10 years, a recent study by PricewaterhouseCoopers shows that Millennials and Gen Z-ers have been experiencing considerable financial strain. This includes significant decreases in household income as well as difficulties paying for household expenses. As a result, people are turning to less-than-ideal methods of making ends meet, such… read more…
Financial Advisor
Do I Need a Financial Planner?
A financial planner can be a powerful force for good, helping you set and reach financial goals. But do you really need a financial planner? Many people forgo the option of working with a financial planner in favor of doing research on their own, setting their own goals and managing their own finances. That means… read more…
Financial Advisor
How to Find a Certified Financial Planner (CFP)
With so many online resources to choose from, finding a financial advisor has become easier. However, there’s a lot to sift through when it comes to picking one. Every financial advisor tends to have different types of certifications, such as certified… read more…
Retirement
How Lower Life Expectancy Could Put Your Retirement at Greater Risk
When it comes to saving and investing for retirement, one of the biggest challenges is figuring out how much money you’ll need to live out the rest of your life comfortably. There’s no telling how long you might end up living. Add in a spouse, children and other dependents, and the calculation become even more… read more…
Investing
SEC Moves to Expand Hedge Fund, Private Equity Disclosures
This week, the U.S. Securities and Exchange Commission voted in favor of proposing rule amendments that would expand reporting requirements for private funds such as hedge funds and private equity funds. While private funds are already required to disclose certain information on predetermined timelines via Form PF, the proposed rule changes would tighten those rules further.… read more…
Debt
How The ‘No Surprises Act’ Affects Your Medical Bills (and Possibly Your Care)
Most Americans have heard stories about surprise medical bills that can cost unknowing patients thousands of dollars for what they may have thought were simple or necessary procedures. However, the practice of surprising patients with medical bills may soon be a thing of the past. The federal No Surprises Act, passed last year, went into effect… read more…
Taxes
Many Tax Refunds Will Be Delayed, Treasury Says: How to Get Yours Sooner
On Monday, Jan. 10, the Treasury Department announced that the IRS is facing significant challenges this year due to budget concerns and issues caused by the COVID-19 pandemic. Officials are warning that many taxpayers could see significant delays in receiving their tax refunds this year. There are millions of tax returns that the agency has… read more…
Financial Advisor
How the New Infrastructure Spending Package Affects Crypto Investors
Crypto investors better look up from their Coinbase and Gemini apps. Changes are afoot. President Joe Biden signed into law a $1.2 trillion infrastructure spending package on Nov. 15, and though the law was a key achievement as it pertained to infrastructure spending, there were a number of other politically relevant provisions — namely regarding measures… read more…
Investing
Here’s Why Big Banks Are Going All In On Crypto: Should You Follow Suit?
It’s no secret that cryptocurrencies are an extremely popular asset class. They’re also a cultural phenomenon that has changed the way many retail investors save and plan for the future. In the past, big Wall Street firms haven’t paid much… read more…
Investing
Why Investors Are Piling Into This Often-Overlooked Security
With proposed legislation to raise income taxes and capital gains taxes circulating in Washington, D.C., municipal bonds have become an attractive option for investors seeking tax-free income and low risk investments for their portfolios. However, it’s important to note that rising interest rates and credit perils can pose serious risks, particularly when it comes to high-yield… read more…