Investing in diversified assets is one of the most feasible options you have to improve your financial health and build wealth. As far as investment assets are concerned, you can allocate capital to a variety of assets, such as stocks, bonds, index funds, and more. These assets can help you generate passive income in the form of dividends and returns. As they increase in value, they can also be sold for a greater price than what you initially paid for them to generate substantial profits. However, the sale of such assets can incur capital gains tax, which can reduce the actual amount of money ..read more

A wealth management firm generally works with high-net-worth individuals, providing them with tailored investment advice to generate more profits. In addition, these firms also typically help clients manage their assets and provide a variety of other services that include retirement planning, charitable giving plans, assisting with stock options, and more. But did you know not all wealth management firms also optimize for taxes? In this article, we’ll look at the role tax planning plays in wealth management and how it can benefit you. The Role Of Tax Planning In Wealth Management Before we g ..read more

The new year is here, and with it comes new ambitions, goals, and resolutions. But 2024 is going to be a bit different. Know why? Inflation and economic uncertainty! Yes, you heard that right. 73% of respondents to a survey have named both these things as top financial concerns for the coming year. In addition, 75% are stressed about saving money and paying bills. Such factors and concerns can make achieving financial goals a daunting task. In this article, we’ll discuss top financial resolutions for millennials, how to set your resolutions, the key steps you need to take to achieve them, and ..read more

As we head full speed into the end of the year, there’s a lot to think about. Between visits with family and friends, holiday shopping, and celebrations, it can be hard to make time for anything else. There is, however, one important year-end process we highly encourage you to consider this time of year and that’s – you guessed it – year-end tax planning! It is all too easy to put off worrying about taxes when the April 15th filing deadline feels so far away. But we at R&A know from experience that the ideal time to start thinking about your taxes is actually prior to year-end. This gives ..read more

Coming out of the COVID-19 pandemic, financial priorities have changed. Many people have now realized the importance of having a nest egg so that they are not left in a tight spot should something like this happen again. In addition to avoiding the urge to overspend, savings are a key factor in achieving your long-term financial goals. But saving can be difficult no matter how much you earn. Tips for Creating a Successful Savings Strategy Most people think that to save money, you need to make extra money. Many focus all of their attention on working to earn more money and postpone setting mon ..read more

Winter vacations are right around the corner, and it’s that time of the year again when people gear up for celebrations, travel, parties, and gifts. It’s also that time of year when people tend to spend more than they should on gifting and leisure activities. While there’s nothing wrong with a little extravagance over the holidays, it’s essential to avoid holiday overspending debt in order to stay on track with your financial plan. Debt Carries More Risk This Season A recent survey has found that one-third of Americans are willing to take on credit card debt during the holidays. That’s not su ..read more

By now you should have a pretty good understanding of ESG’s three pillars: Environmental, Social, and Governance. You also likely understand that ESG analysis focuses on issues that are important for society as a way to better identify risks, opportunities, and projected financial performance in companies, so it isn’t all about “wokeness.” As we discussed in Part 1 of this series (The Three Pillars of ESG: E for Environmental), we discussed the environmental pillar, and in Part 2 (The Three Pillars of ESG: S for Social) we took a hard look at how social issues can impact a company’s ESG rating ..read more

Health Savings Accounts are very popular and, if available to you, very often are highly recommended. Most employers now offer additional high deductible health care plans with an HSA account feature to make their benefits package even more enticing. But why are HSAs so popular? And, if you have access to one, should you sign up? Let’s start with the basics – What is an HSA? An HSA (short for Health Savings Account) is a type of account in which you can set money aside that you can use for out-of-pocket medical expenses. However, not everyone is eligible for an HSA. To be eligible to particip ..read more

If you enjoy donating to charities that you support while also receiving tax benefits, a Donor Advised Fund may be a great option for you! In this post, we will explain what exactly a Donor Advised Fund is, and some of the tax benefits for Donor Advised Funds. What Is a Donor Advised Fund? A Donor Advised Fund, or DAF, is a charitable savings account that lets you donate without choosing a particular charity immediately. You may qualify for a charitable tax deduction in the year you donate but can send the money at any time to a qualified charity of your choice, all the while your account gro ..read more

If you’re here, you’ve probably heard a decent amount about ESG Investing already, and presumably already know that “ESG” stands for Environmental, Social, and Governance. These are specifically identified issues generally agreed upon as important for society as a whole, broken down into three categories; AKA “The Three Pillars of ESG Investing.” All ESG-based analysis is fueled by the assessment of factors inside these three pillars. Environmental factors (the ‘E’ of ESG) are specific to just one of the three pillars. ESG Environmental Factors In practice, ESG is a tool that combines social ..read more