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When families get together to celebrate the holidays, it is a great opportunity to discuss wealth transfer with the next generation. Too often, families do not communicate about finances and are not educated on the basics of estate planning.

You have probably heard about this year’s hot investment, Treasury issued Series I savings bonds. We wrote an article in the spring about I bonds when the interest rate was set to 9.62%.

For the past few years, we relied on my husband’s start-up business losses as a “saucepreneur” to offset any tax payment shortages throughout the year. In 2021, that strategy failed, for a number of reasons. It never occurred to me that we would have any issue with underpaying our taxes.

The first lesson I learned in Econ 101 was the concept “there is no such thing as a free lunch.” As a freshman college student on a prepaid meal plan, I was initially skeptical.

In the Northern Virginia area, we come across many successful professionals who have significant philanthropic desires. As financial professionals, it is important that we understand different charitable gifting options to explore with the client as part of their financial or estate plans.

Have you ever wondered how much wealth is enough?