Alternatives are investment options beyond the typical stocks, bonds and cash found in most portfolios. They can be tangible assets like precious metals, or they could be financial assets like private equity or hedge funds. Alternatives tend to be riskier than traditional assets, which means investors usually have to meet certain criteria to access them. Here’s a closer look at alternatives and some of the most common options available. What is an alternative investment? An alternative investment is a financial…
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Understanding the Charitable Remainder Trust The charitable remainder trust (CRT) is a popular retirement- and estate-planning tool. It can be a convenient way to create a stream of lifetime income for yourself and others or donate to a charity while minimizing and deferring taxes. But there are many choices to make when establishing a CRT and, in some cases, these tools may not be right for everyone. What is a Charitable Remainder Trust and How Does it Work? A charitable…
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You may have purchased life insurance years ago and never gave it a second thought. Or perhaps you don’t have life insurance at all and now you need it. When your life circumstances change, you have a fresh opportunity to make sure the people you love are protected. Marriage When you were single, life insurance might have seemed like an unnecessary expense, but now someone else is depending on your income. If something happens to you, your spouse will likely…
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Your life insurance needs change as your life changes. When you are young, you may not have a need for life insurance. However, as you take on more responsibility and your family grows, your life insurance needs increase. Your needs may then decrease after your children are grown. You should periodically review your needs to ensure that your life insurance coverage adequately reflects your life situation. Estimating your life insurance need There are a couple of simple methods that you…
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At Prosperwell, you matter to us. We believe everyone can experience financial happiness. We want to help you get there while delivering a complete “WOW” experience. We start by discovering your passion and then create your personalized analysis. During your complimentary initial consultation we discuss your dreams, goals, and desires. We then develop a personalized strategy and plan and your dedicated Relationship Manager will put it in action. As part of our Prosperwell family you have continuous support from all…
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The housing market during the coronavirus pandemic has certainly been notable. Historically low interest rates resulted in record homebuying, even as housing prices escalated.1 Fortunately, the mortgage industry has been able to keep up with the pace of the real estate market by utilizing already existing technology. Homebuyers can search for lenders, compare interest rates, and apply for mortgages online. In addition, mortgage lenders are able to do alternative appraisals, perform safe home inspections, and conduct closings electronically. Even though…
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Whether relocating from a high-income tax state to a low-income tax state or moving to another state with increased asset protection, property owners, especially those of high net-worth, should consider certain factors for establishing domicile. Many residents of Minnesota love to move to Florida. They love the warm weather during the long winter, the ocean, the beaches and also the tax advantages. Minnesota is a high-income tax state. One of the highest. Florida as no state income taxes. Changing your…
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