A 401(k) account at a former employer is like a financial storage unit: important assets are sitting there, but they are out of sight, hard to coordinate, and may be disconnected from the rest of your retirement plan. The question for many investors is whether that old account still belongs there, or whether it should be rolled into an IRA as part of a more coordinated retirement strategy. A rollover to an IRA can turn that dormant account into a more flexible, better-managed piece of the overall portfolio.

For many collectors, building a collection is a lifelong pursuit. Fine art, rare watches, classic automobiles, coins, jewelry, or wine often reflect years of curiosity, expertise, and personal passion. Over time, these pieces may also become some of the most valuable assets a person owns.

But there’s a question many collectors don’t spend much time thinking about while they’re building their collection: what will happen to it when they’re no longer the one managing it?

Last month, many found themselves entertaining fantastical “what-if” scenarios should they beat the odds and pick the winning Powerball numbers. Despite the low likelihood of suddenly becoming a billionaire, many will spend more time considering such an outcome than they will thinking about the more realistic scenarios that can result in receiving a windfall. Benjamin Connard, CFA, Principal of Carnegie, discussed this very thing with Fox5. 

Whether from an inheritance, the sale of a business or property, a divorce settlement, or insurance proceeds, a sudden influx of wealth can be life changing. While the opportunities are substantial, so are the complexities. Many individuals find themselves unsure of where to begin, what questions to ask, or how to make thoughtful decisions during what is often an emotionally charged time.

For over twenty years, I have assisted clients in navigating market fluctuations, tax changes, and life transitions. Recently, I have encountered a new challenge: helping clients who do not have a trusted contact listed. In rare situations, it may be necessary to reach out to someone who can check on you if you are unwell or experiencing difficulties. 

Most financial plans consider two key points in time: when you're fully able to manage your finances and when someone else legally takes over. However, there is often a vulnerable middle ground where your confidence and understanding can begin to diminish well before any formal diagnosis occurs. This gap may not be addressed in your financial plan, potentially putting your wealth at risk. Furthermore, this issue can be more pronounced for individuals who have no children, close family, or friends to support them. 

It may feel like a difficult topic to bring up, but it's a simple fix that can have great impact later. Let's discuss the importance of adding a trusted contact.  

A wealth manager is a type of financial advisor who typically works with high net-worth individuals and provides a wide range of financial services, including asset management, financial planning, estate planning and much more. Since wealth manager is not a technical term, it’s especially important to take the time to find out exactly what the relationship will look like before choosing a wealth manager to work with. 

A wealth manager is a type of investment advisorwho typically works with high net-worth individuals, but what does a wealth manager do? Typically, a wealth manager provides comprehensive financial services, including asset management, financial planning, estate planning and much more. While a wealth manager is a generally accepted term, there is no specific definition, which means the services offered may vary. Here are a few of the key services you can expect a wealth manager to provide and how they can help you build your wealth. 

In a perfect world, nearly everyone would work with a financial advisor, but in the real world, this isn’t always possible. The right time to hire a wealth manager is when your financial situation reaches a level where not working with an advisor could actually cost you more. Here are five signs you’ve probably reached that point.

Building wealth is an integral step in many major life goals: purchasing a home, limiting financial stress, supporting loved ones, enjoying retirement, the list goes on and on. But building wealth isn’t always straightforward. What if you’re early in your career and just barely managing to make ends meet? What if you’re nearing retirement but don’t feel you’ve saved enough? No matter your age or stage of life, here are five ways to help you build wealth now.

Making decisions today that are designed to take effect upon our eventual demise is hardly at the top of anyone’s pleasure list. When it comes to ensuring the financial well-being of your family though, making thoughtful preparations regarding the final disposition of your assets should be a priority. The creation of an estate plan allows you to control how your assets are transferred to your heirs when you die or become mentally or physically incapacitated.

An estate plan will have far-reaching consequences regarding how your financial assets are distributed. A properly designed plan can also make directives about your medical care if you become too ill to make those decisions yourself.

In the absence of an estate plan, a probate court may be making the decisions about your money when you pass away, rather than following your wishes. The lack of a plan may leave your family with an undue hardship, particularly if you have not made it clear to them how you want your affairs to be managed.

Consider the essential components of a proper estate plan:

Originally published in September 2021. Updated in February 2026 with added resources.

Did you know that 90 percent of high net-worth households give to charity according to the National Philanthropic Trust? It’s an impactful way to ensure your wealth goes to good use. Nonprofit and charitable organizations are fueled by individuals who support their services. Currently, there are about 1.54 million charitable organizations in the U.S., and in 2019, 69 percent of charitable giving came from individuals.

In our first post in this series on living with wealth, we discussed giving to family. In this post, we concentrate on charitable giving. Outside of playing a pivotal role in helping a nonprofit organization thrive, charitable giving boasts a number of benefits for donors. Making a donation to a qualified 501(c)(3) makes you eligible for tax deductions, and giving a considerable amount can benefit your overall estate planning.

Take a closer look at how you can position yourself for sustainable charitable giving and, in addition, leave an enduring legacy after your death.