In my 20 years of working as a wealth advisor for hundreds of high net worth families, I have found facilitating family meetings to be one of the most meaningful and impactful things I do. An effective family meeting opens up the lines of communication regarding a family’s shared values around money and wealth and can become an unforgettable family bonding experience paying dividends for many years into the future. Taboo Topics Handled With Care We live in a society where conversations ... [Continue Reading]
Articles and resources related to Financial Planning.
It is the Greek philosopher, Heraclitus, who said, “Change is the only constant in life.” Some life changes are more welcome than others, and change is often hard. Some of these changes are planned, while some can be very sudden. At CCM, I believe we do great work for clients in any number of transitions, including in the instance of a divorce or the death of a spouse. When clients find themselves suddenly single, for example, they are often mired in details and decisions that they have never ... [Continue Reading]
According to the World Health Organization, the number of adults living with dementia—a condition that negatively impacts a person’s memory and cognitive function—stands at 50 million. This number is expected to rapidly grow to 82 million by 2030. Alzheimer’s disease is the most common form of dementia, accounting for 60 to 70 percent of all cases. 1 With dementia on the rise, it's increasingly important to consider dementia-friendly wealth management strategies. Stages of ... [Continue Reading]
Carl Richards is a fellow financial planner whose notoriously creative napkin sketch drawings help simplify complex personal finance concepts. Richards, also known as "the sketch guy," has been penning columns for the New York Times for a decade, and is the author of two books, The Behavior Gap and The One-Page Financial Plan. In Your 5-Step Guide to Navigating a Scary Stock Market, Richards provides useful and timely advice for us all by highlighting a number of key sketches. He does a ... [Continue Reading]
The Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law on March 27, 2020. It offers relief for individuals, businesses, and state and local governments facing financial pressures as a result of the COVID-19 pandemic. With the reach and the complexity of the CARES Act, there are numerous different planning opportunities we’ve explored for the benefit of our clients since this Act was put into place in late March. To demonstrate how our team is proactively applying the ... [Continue Reading]