Carnegie Investment Counsel Blog

You Can’t Take It with You Part 2: Philanthropy

Posted by Carnegie Investment Counsel on Sep 17, 2021 4:00:00 PM

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. [Link to blog when posted] 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.

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Topics: Giving, Financial Planning, Wealth Management, Nonprofits

You Can’t Take It With You: When and How to Help the Next Generations Financially

Posted by Carnegie Investment Counsel on Jul 29, 2021 2:00:00 PM

Living Well With Wealth Series 1 of 3

In this first blog post in our Living Well With Wealth series, we discuss giving money to family. Next in the series, we offer insights into charitable giving.  

It’s highly common for our clients with children, grandchildren and other family members to direct their assets to things or activities that will help those family members financially. Allocating portions of your legacy and offering financial assistance can make a lifelong impact on your loved ones. So, how and when should you get started, and what do you need to consider?

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Topics: Financial Planning, Investment Management, Wealth Management, Retirement Planning

Gray Divorce Trends 2021: How Will Late-in-Life Divorce Impact Your Finances and Retirement?

Posted by Carnegie Investment Counsel on Jul 6, 2021 1:30:00 PM

After many years where the divorce rate for American adults was constantly on the rise, recent decades have shown a modest decline. However, those statistics disguise a change in the divorce rate for older adults. According to multiple studies, including a Bowling Green State University Family Profile Information 2021, there has been an increase in the divorce rate for those who are 50 years and older.  

This so-called gray (think graying hair) divorce phenomenon can have a significant impact on retirement plans. If you are older and considering a divorce, keep in mind that assumptions you and your spouse made decades ago about finances may no longer apply, including the financial benefits of marriage.

Several high-profile gray divorces have been in the news recently, including Bill and Melinda Gates. Let's assume that dividing up their assets will be a bit more complicated than what you might be facing if divorce is likely. However, there are practical considerations for all non-billionaires when dealing with the financial consequences of a divorce.

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Topics: Financial Planning, Investment Management, Wealth Management, Retirement Planning

How to Craft an Investment Policy Statement for Your Nonprofit, Corporation or Yourself

Posted by Meg Halloran on Mar 25, 2021 1:30:00 PM

As a portfolio manager at Carnegie Investment Counsel, I am involved with creating portfolios designed to help clients meet their goals. For individuals, corporations or nonprofits, investment policy statements (IPS) are a way to outline goals and objectives. Outside of work, I serve as an investment committee member for my church's endowment. As such, I am sharing my IPS experience as a portfolio manager and as a community member in my church. Let's start with some basics.

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Topics: Investing, Financial Planning, Wealth Management

Top 5 Financial Factors to Consider Before Remarrying

Posted by Carnegie Investment Counsel on Mar 4, 2021 1:30:00 PM

Thinking about another marriage as you approach retirement? What are the financial considerations?

Getting married at any point in life is an exciting step toward personal and shared fulfillment. But getting married later in life can be both exciting and potentially challenging, at least from a financial standpoint. Compared to those who are marrying for the first time, people who remarry likely have to solve a much more complicated financial equation in order to be prosperous.

Before you tie the knot a second or third time, you and your future spouse should have an open and sincere discussion regarding your respective finances. Some points in this conversation will probably be uncomfortable, but you can avoid future arguments by laying all your financial cards on the table today. Consider the following discussion points:

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Topics: Investing, Financial Planning, Wealth Management

A Day in the Life of a Wealth Advisor: Meet Ian Matheson

Posted by Carnegie Investment Counsel on Feb 25, 2021 2:30:00 PM

We continue our series profiling different financial advisors at Carnegie Investment Counsel with our wealth advisor, Ian Matheson at our Carnegie Investment Counsel office in Ft. Myers, Florida.

Pass Go and collect $200: Ian Matheson helps make it that easy to feel good about your investment strategy, with a little extra knowledge and dedication.

Ian Matheson grew up playing Monopoly, but he learned to work with real money at a young age. In fact, when he was in the eighth grade, he started competing with his father, Robert Matheson, to pick stocks and mutual funds. It’s almost natural that he has been a wealth advisor for over 20 years now.

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Topics: Investing, Wealth Management

How Our ‘Counsel’ and Team Approach Helps Us Make Investment Decisions

Posted by Greg Halter, CFA on Feb 16, 2021 1:30:00 PM

On a monitor across from my desk, two screens share constantly updating market news from earnings reports to headlines. On my phone, Twitter flashes the latest evaluations and thoughts from, well, thought-leaders. Bloomberg provides analytics, data and even more financial news. The flow of information is good and valuable. Everyone can access this information. It’s a far cry from years ago, when we had to wait to receive faxes of earnings reports. Now financial information is certainly becoming more “democratized”. But these volumes of information are a challenge for individuals to process, even if those individuals are professionals.

At Carnegie, the word “counsel” in our name speaks to the expertise we bring to investment management. But how does the Carnegie approach work in practice? How do we synthesize information together as a team to help portfolio managers digest it and make decisions for our clients’ portfolios?

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Topics: Investing, Wealth Management

8 Things You Need to Know to Survive and Thrive with Sudden Wealth

Posted by Donald L Haisman, CFP® on Feb 2, 2021 1:30:00 PM

Suddenly find yourself winning the lottery or with an unexpected inheritance? Or maybe you sold your company for a surprising amount. Sudden wealth means receiving more wealth than you are in the habit of being responsible for and having it happen quickly. While it may sound to some like a dream come true, there are both mental and financial considerations involved with sudden wealth. Here are eight steps to help you survive and thrive:

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Topics: Investing, Financial Planning, Wealth Management

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