For many successful women executives and business owners, the services of a family office or a multi-family office can help bring together what is often an incredibly complex financial picture. In this Forbes article, Olson Wealth Group President Sharon Olson, CFP®, CEPA shares her perspective on how and why family offices can and should cater to the unique needs of
By Tom Knutson, CFP® There are a few common pitfalls that individuals miss when reviewing their financial plan. In this article, my goal is to outline what these pitfalls are and how to plan for them throughout the year. Common Pitfall #1: Not Reviewing Tax Returns Many individuals believe that since they have hired a
Minneapolis / St. Paul Business Journal Leadership TrustBy Sharon Olson, President, CFP and Nicole Scanlon, J.D., Managing Director, Family Wealth. Olson Wealth Group brings wise counsel and clear strategies to deliver real-life returns for generational wealth. My company helps families build wealth and pass it down through generations. But of course, it’s more than just
Today is Give to the Max Day! Consider joining thousands of generous donors in helping to support local charities. While giving cash is one way, there are many other ways to maximize your generous donation so that it fits within your financial plan. #GTMD20
IRA owners are seeking alternative ways to incorporate tax effective giving strategies into their estate plans. One way to maximize a gift to a beneficiary, while also benefiting a charity of choice, is by using a Charitable Remainder Trust (CRT).
What is the most efficient and least costly process to use your investment portfolio to access cash when you need it.
We clearly have complicated feelings about money and spouses and children can make it even more difficult if we aren’t on the same page about managing money. The New York Times presents “Best Tips for Managing Money”, sage advice about how to prevent money management from fracturing families.
In my experience, 70% of my clients who own businesses do not have a retirement savings plan. For many entrepreneurs, their wealth is tied up in their firms. These few steps can help you pursue your retirement goals.
Last month, we spoke about ‘dusty wills’ when you have to blow off the dust because it’s been so long since you reviewed them. In Part 2, Paul Brown, attorney and president of Chandler & Brown, LTD, continues to share some real-life examples of what can happen if estate planning oversight is neglected.
According to the Department of Justice, an estimated 17.6 million people, or 7% of all U.S. residents age 16 or older, were victims of one or more incidents of identity theft in 2014 (latest available). What's more, about 7% of identity theft victims experienced out-of-pocket losses of $100 or more. Here are some steps to help you prevent significant loss.
The lessons you learned early form your “Money Imprint”; your hardwired operating system that determines if you stumble or strut in your money life. Ask yourself these questions to understand how your beginnings shape your future.
Recent tax reform will lower the overall tax bill for millions of filers beginning in 2018. On the flip side, however, it has made it more difficult for most people to realize a tax benefit from making charitable contributions. In our experience, there are still strategies you can undertake to optimize your philanthropic efforts from a tax standpoint. Effectively utilizing donor-advised funds can allow individuals to reduce their income tax liability while directing funds to their favorite charities.
Kevin Fruechte, Chief Research and Operations Officer at Olson Wealth Group, completes the Certified Private Wealth Advisor (CPWA®) program and now combines this certification with his CERTIFIED FINANCIAL PLANNER (CFP®) and Chartered Financial Analyst (CFA) credentials. In so doing, he becomes the sole advisor in Minnesota to simultaneously hold all three of these prestigious designations.
Glenn Raffenach from The Wall Street Journal gives you some resources to ask the right questions when looking for a financial adviser.
Won’t be itemizing your deductions under the new tax bill? That doesn’t mean there won’t be piles of paper stacked up on your dining room table.
With all the recent tax talk, we wanted to remind you that a Solo 401(k) is a great way for sole proprietorships and their spouses to reduce taxable earnings.
Minnesota recently passed legislation that allows either a credit or a deduction for Minnesotans saving for college through a 529 savings plan. Here's what you need to know.
Family of origin impacts how you talk and feel about money as an adult.