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Well Balanced | Financial Planning, Bucket-Based Investing, Market Perspective, Wealth Management. A passionate and entertaining look at money and investing in and for retirement. For those that enjoy podcasts like Smart Money, On Investing, and BiggerPockets, Well Balanced is worth adding to your feed. Disclosures about our firm and this podcast. Vector Wealth Management is registered as an investment adviser with the Securities Exchange Commission (SEC). Registration as an investment adviser does not constitute an endorsement of the firm by securities regulators nor does it indicate that the adviser has attained a particular level of skill or ability. A copy of Vector’s current written disclosure brochure filed with the SEC discusses among other things, Vector’s business practices, services, and fees, and is available through the SEC’s website at: www.adviserinfo.sec.gov. All content in this podcast is for information purposes. Opinions expressed herein are solely those of Vector Wealth Management, our staff, and guests. Material presented is believed to be from reliable sources, however, we make no representations as to its accuracy or completeness. All information and ideas should be discussed directly and in detail with your financial advisor prior to implementation. This podcast and related content are not intended to render personalized investment advice, nor should it be viewed as an offer to buy or sell, or a solicitation of any offer to buy or sell the securities or strategies discussed. Please note that neither Vector Wealth Management nor any of its agents give legal or tax advice. The firm is not engaged in the practice of law or accounting. Charts, graphs, and returns do not represent the performance of Vector Wealth Management or any of its advisory clients. Returns do not reflect the impact that advisory fees and other expenses would on the results. Different types of investments involve varying degrees of risk, and there can be no assurance that any specific investment or strategy will be suitable or profitable for a client’s portfolio. All investment strategies have the potential for profit or loss. Past performance is not indicative of future performance. Visit vectorwealth.com/regulatory for the firms form CRS and ADV.
Episodes
Friday Jul 26, 2024
Friday Jul 26, 2024
Ever wondered how to effectively pass on your legacy while ensuring your own financial security? Learn about intra-generational wealth transfer with Joe Grochowski, a long-serving advisor at Vector Wealth. Joe shares his practical experience to help you navigate the complexities of gifting, inheritance, and financial planning.
This episode isn't just about numbers; it's about making thoughtful decisions that honor your family's values. If you're exploring the idea of a lump sum inheritance or distribution throughout your heirs’ lives, this guidance will help you frame your decision-making. We consider the implications of intra-generational wealth transfer. Join us by watching or listening to this engaging conversation. We want you to make informed choices for your family.
Main Themes and Start Times
- Introductions and Overview: Intra-generational Wealth Transfer
- Joe Grochowski has been an advisor with Vector since 2011 and helps clients understand financial planning and options for intra-generational wealth transfer.
- Start time: 00:03
- The discussion focuses on how clients can think about passing on their legacy to the next generation, balancing personal financial security with the desire to assist children and grandchildren.
- Start time: 00:39
- The pros and cons of lifetime gifts, which assist children at crucial life moments, versus inheritance, which prioritizes parents' financial security first, are explored.
- Start time: 01:43
- While the focus is on intra-family wealth transfer, our podcast also briefly touches on the option of giving to charities and organizations.
- Start time: 04:11
- The difference between equal and equitable distribution of wealth is discussed, noting that while most families prefer equal distribution, there are scenarios where equitable distribution is more appropriate based on the financial status of the children.
- Start time: 05:18
- The importance of timing when communicating inheritance to the next generation is emphasized. Parents often want to ensure their children or grandchildren have a responsible approach to money before sharing all the details.
- Start time: 07:21
- We discuss the necessity of keeping estate planning documents and beneficiary designations up to date. Regular reviews, especially after significant life events, ensure that plans remain relevant and effective.
- Start time: 11:30
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