In this episode of FPO&G, Justin and Jared dissect how retirement planning is impacted by executive compensation.

Should my investment allocation be changed due to the nonqualified stock options, deferred comp, and restricted stock that vest after retirement?

Do Roth conversions still make sense as a retiree in light of my post retirement income?

How do I balance optimizing for taxes while managing the concentrated stock risk of this equity compensation on my balance sheet?

For more information and show notes visit: https://www.bwmplanning.com/post/80

For more information and show notes visit: www.bwmplanning.com/post/79

In this episode of FPOG, Justin and Jared dissect JP Morgan's 2024 Global Family Office Report.

What can research from the biggest bank in America on some of its wealthiest clients teach us?

We discuss our favorite parts of the report, takeaways for Oil & Gas professionals, and a few key points:

1) Wealth Management Team for Families: The episode explains how a family office serves as a private wealth management team for one or a few families. While typically associated with ultra-high-net-worth individuals, the principles of financial planning and wealth management are applicable to individuals at all wealth levels.

2) Complexity and Planning Needs: Complexity of financial planning is influenced by assets, trust entities, liquidity, and family dynamics. This complexity is not exclusive to ultra-wealthy families but can also be present in families with lower net worth, albeit in different forms.

3) Education and Stewardship: The episode stresses the importance of educating the next generation about financial matters. Ensuring that children are prepared to be good stewards of wealth is a critical aspect of comprehensive financial planning, regardless of the family's net worth.

4) Return Targets and Investment Complexity: The discussion on return targets and investment decisions reveals that even families with substantial assets may struggle with setting clear financial goals. The complexity of investment decisions and the pursuit of higher returns can sometimes lead to unnecessary complexity and cost.

5) Simplicity and Empowerment: Simplicity in financial planning can often be more effective than complexity. Empowering individuals, especially the next generation, with financial knowledge and a clear strategy can lead to better outcomes than relying solely on complex investment structures.

6) Financial Education and Empowerment: The episode underscores that financial education and empowerment are key components of comprehensive financial planning. Ensuring that individuals understand their financial situation, have clear goals, and are equipped to make informed decisions is crucial for long-term financial success.

By focusing on education, simplicity, and clear financial goals, you can effectively navigate your financial journey and secure your financial future.

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Disclosure: This information is for informational purposes only. Nothing discussed during this video should be interpreted as tax, legal, or investment advice. If you have questions pertaining to your specific situation, please consult the appropriate qualified professional.

In this episode of FPOG, Justin and Jared discuss the most common mistakes they see related to constructing an investment allocation. They also talk through best practices when it comes to thinking through how to construct your mix of investments.

For more information and show notes visit: https://bwmplanning.com/post/78

Connect With Us:

Facebook

Linkedin

Disclosure: This information is for informational purposes only. Nothing discussed during this video should be interpreted as tax, legal, or investment advice. If you have questions pertaining to your specific situation, please consult the appropriate qualified professional.