Resources

After three consecutive calendar years of solid performance for equities, and the remarkable growth fueled by the investment in AI, it can be tempting to let one or two standout stocks grow into oversized portions of your portfolio. Strong performance, familiar brand names, or long-term loyalty to certain companies can make concentrated positions feel comfortable.

Estate planning, retirement planning, or any form of financial planning that considers only current stakeholders is short-sighted and incomplete. I had a pastor tell me once, “The ultimate purpose of an apple tree isn’t apples. The ultimate purpose of an apple tree is more apple trees.”

The Great Wealth Transfer refers to the massive intergenerational transfer of assets, primarily from Baby Boomers (born 1946–1964) to their heirs and charitable organizations. In the United States alone, over $100 trillion is expected to be transferred over the next 20 years.

Typically, when we write these newsletters we focus on one topic. Today, I’ll provide a bonus two-topic edition. Somewhat fittingly, both sections share the same underlying theme but from two different angles. We will cover inherited irrevocable trusts along with a brief update on the Federal Reserve and recent market volatility.

Most investors default to “don’t sell, don’t pay tax.” And while tax deferral is valuable, it’s not always the best long-term strategy. This is where the idea of a “capital gains budget” comes in.