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I know the question you’re probably asking yourself: Can’t I just take a smaller RMD? The answer is no. RMD is just like how it sounds–it is the minimum amount you need to take from your retirement account each year. Bluntly, it’s the IRS’s way of forcing you to take a certain amount of money from your tax-deferred retirement accounts so that they can get their taxes-owed.

The word “option” makes you feel good–it denotes flexibility, choice, and gives you a sense of control. However, those “options” may not be the cherry on top of your sundae, perfectly perched on a pillow of whipped cream. They may actually be the sticky hot fudge that melts your ice cream and turns your masterpiece into a soupy mess.

Nov 27, 2021 Tax Strategies

This classic piece of investment advice is everywhere for a good reason. Spreading your investments across numerous asset classes and sectors reduces your portfolio’s reliance on any particular one. It’s meant to mitigate your loss—if one sector were to decrease, your diversification across multiple sectors can reduce the impact of those losses. There are levels of diversification, too.

If an asset is on the rise, there can be some sense in jumping in on that trend. Those trends, after all, represent the flow of capital. Instead of trying to fight that flow, you might potentially be better off joining it—assuming you do the proper analysis and have specific rules set in your Model to guide you in entering and exiting the investment at an appropriate time.

Are you looking for clarity, conviction and unfiltered advice about your wealth?

You’ve come to the right place.

After years of focusing on building a business, now’s the time to pause and audit your personal financial life. What assets do you have? Liabilities? What kind of income are you accustomed to and how do you spend it? Approach these questions with the same discipline and no B.S. attitude that’s already gotten you this far. Then, map these items out–(we use a “Monument Asset Map”)–so you can see the big picture clearly without overwhelming the senses.

Nov 24, 2021 Business Exit Planning

Many of the best dividend growth stocks don’t have high yields. Let that sink in for a moment. Consider this: when a company pays out a dividend, that’s not free money. On the contrary, it’s less money that goes back into the company which can slow growth down. In fact, high yield could be a sign that there isn’t much growth to be had at all.

Sometimes, a business sale isn’t the sale of a single “business asset”–it’s often considered the sale of the individual assets of the business (think inventory, intangibles like goodwill, capital assets, etc.) for tax purposes. This means that some assets may be taxed as ordinary income when sold while others may be taxed at lower, advantageous long-term capital gains rates.

Nov 03, 2021 Business Exit Planning

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