From clients looking at home repair and remodeling projects, from a new roof or windows to a new kitchen, I'm frequently asked which is the best way to withdraw money to pay for these “upgrades.” Should you use your investment account or retirement account, such as an IRA?

The Eighth Wonder

We all know how tempting it can be to buy those nice but expensive pair of sunglasses or shoes but would you be better off putting aside some those discretionary purchases to save, instead? Albert Einstein once said “Compound interest is the eighth wonder of the world. He who understands it, earns it. He who doesn't ... pays it.”

Why do I need to think about my collection in terms of wealth management?

Numerous studies, including one operated by BMO Private Bank, have suggested that 10% to 25% of a family’s net worth can be comprised of art, jewelry or collectibles. This can be the result of a passionate hobby that is enjoyed throughout the course of one’s life or the result of an inheritance. Given the demand for rare artifacts of legitimate value, the price of these items can be astoundingly high.