Echelon Family Office
For many, owning a business is the American dream come true, and making management decisions that grow your business brings about well-deserved feelings of accomplishment. Playing devil’s advocate here—did you decide to use any of your cash flow to fund your retirement investments? According to CNBC, 78% of small-business owners plan to sell their businesses […]
Carrying consumer debt into retirement can quickly reduce the monthly cash flow available to spend on healthcare, travel, and leisure activities or could necessitate drawing down retirement accounts faster than planned. Either situation puts you at risk for running out of money or facing significant lifestyle changes to make ends meet. Financial strain is a […]
Over 99% of America’s 28.7 million firms are small businesses, and 88% have fewer than 20 employees. After the year of COVID, many can’t wait for a Government stimulus to bail them out and are instead looking for ways to fund their business and get back on track. Government Grants: The government site grants.gov is the […]
Many families have plans to give their children and grandchildren financial gifts when they die, but it might make sense to gift earlier. Making financial gifts during your lifetime can significantly impact their lives, sometimes when they need it most. It also provides you with the benefit of seeing your loved ones enjoy your gifts. […]
Every year the federal government decides how much of your estate isn’t subject to taxes when you die. This year, thanks to inflation, it increased to $11.7 million. This means, when you pass away, the value of your estate is calculated, and any amount more than $11.7 million is subject to the federal estate tax. […]
Millennials are victims of many stereotypes, but the one that portrays them positively suggests they’re a planning generation. They research and collaborate and plan for all life’s major decisions, and their long-term care (LTC) isn’t any different. In part, millennials have learned about personal finances by observing the mistakes and shortcomings of older generations and […]
Does your estate plan include transferring your wealth onto your family? Have you looked over potential tax implications? It’s important to understand that your beneficiaries may be in for sticker shock when they receive a tax bill along with your generous gift. If you’re looking for ways to keep your financial legacy away from Uncle […]
Guaranteed returns, you ask? Yes, but it’s complicated – one simple word can make a big difference. If you have a fixed annuity, you get a fixed rate of return. If you add one simple word “indexed” creating a fixed indexed annuity, you’re tied to the market index rate in anticipation of greater returns. Both […]
We spend years of our life working and saving for that retirement dream, and as you get closer, it’s important to take all steps to preserve your nest egg. Perhaps a move across state lines will help in that endeavor. Some states don’t tax Social Security or pension income but could have very different property and sales […]
Cryptocurrency is a form of digital payment that can be exchanged online for goods and services. Many companies have issued their own currencies, often called tokens, and these can be traded specifically for the good or service that the company provides. Think of them as you would arcade tokens or casino chips. You’ll need to exchange […]
Another encouraging sign for the recovering economy: Retail sales rose 17.7 percent in May from the previous month, setting a new record. The gain easily topped the previous record of 6.7 percent from October 2001 — a month after the 9/11 terrorist attacks. Clothing and accessories stores reported the biggest percentage gain at 188 percent. […]
Here’s a sign of how much of our lives we spend online these days: Nasdaq announced on Friday that DocuSign, the electronic signature software company, would be joining its Nasdaq 100 index. What would it be replacing? The venerable but currently beleaguered United Airlines. DocuSign just debuted on the Nasdaq back in 2018. It will […]