Why You Should Have a Modern Day Moat!
{3 minutes to read} As the saying goes, we live in interesting times, and this post-COVID period has caused many people to revisit their financial world. We're living in a time when inflation has raised its head for the first time in many years. The younger generations have not seen inflation go up since we've lived in a very low inflationary period for the last 20 years or so. We also have had record amounts of volatility in the stock market. We have wars going on. We have balloons [...]
Faith, Family, and Fun With Tim Foster
https://www.youtube.com/watch?v=_gHsg1d1G5k In this episode of It’s Personal... Not Just Business with Michael Fliegelman, we welcome guest Tim Foster, Partner of The Partners Group, Registered Representative & Investment Advisor of Park Avenue Securities, and Special Agent of Guardian. Tune in to this episode, where we are treated to the warm camaraderie between these two long-term colleagues and friends: Learn how Tim has MAPPed out every day for the last 40 years: Will it be MEANINGFUL? What should my ATTITUDE be? What's today's PURPOSE & PASSION? Tim's process [...]
Tax Law Changes for 2023
{2 minutes to read} In the beginning of the year, we try and create a communication to all of our friends and clients, and people we know, about what changes are taking place from a tax perspective. There are lots of changes every January, and this year is no exception. Each year, the government changes the amount of money that you get from an estate planning standpoint and social security. The estate and gift tax exclusion amounts have increased in this new year. For someone who dies in [...]
Estate Planning — The Use it or Lose it Scenario
{3 minutes to read} Today, I want to reflect on some of the issues about estate planning based upon our current estate tax rules. Under the Trump Administration, the estate tax rules were changed very liberally to allow people to give away a tremendous amount of money, creating great opportunities to transfer wealth to the next generation and get the growth of these assets out of your estate. Currently, the estate tax exemption for an individual is over $12 million. Plus, if you're married, we get an additional [...]
Long-Term Care Insurance in Your Future — Whether You Want it or Not!
Long-term-Care continues to be a relevant subject matter for people who are about to retire. Recently, the state of Washington enacted legislation where the citizens of the state now have an additional 2% payroll tax without any limits. So, if you make $100,000 a year, you would have $2,000 taken out of your salary. This payroll tax goes to fund a long-term care benefit of $35,000 that will be provided by the state and would be available to pay for your long-term care claims. The states are doing [...]