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What to Do After Your Net Worth Crosses $1 Million
How financial priorities and asset allocation often changes as wealth grows. In the early 19th century, John Jacob Astor became the first multi-millionaire in the US. Astor built his fortune through a fur trade monopoly, exports to China and owned New York City real estate, which are uncommon sources of wealth for the average millionaire today. While fortunes like Astor’s were built through concentrated…
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Required Minimum Distributions: What to Expect and How to Prepare
For many retirees, Required Minimum Distributions can feel frustrating and confusing. While some individuals rely on their RMDs for living expenses, for others RMDs represent additional taxable income that can push them into higher tax brackets or trigger Medicare IRMAA surcharges. What are the key things to know about RMDs? Who? Individuals over the age of 73 or those who inherited a retirement account from someone…
Retirement Planning
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