Is there anything better than a long, sunny, summer day? We don’t think so! Growing up, we all looked forward to opening of pools, beach trips and summer camps. As we dive into our first open travel summer in almost two years, it is fun to see how many incredible adventures are being planned by travel agents all over the world.
Summer days are marked with new opportunities to connect with family and friends over patio dinners, outdoor concerts, road trips, bike rides and casual conversations. One thing that has been top of mind around our tables has been the increased attention on the Great Wealth Transfer. Did you know that $30 trillion in wealth is expected to transfer from baby boomers to younger generations – and women are expected to be the largest beneficiaries? The number one thing parents can do to help prepare their children and beneficiaries for an inheritance is to talk about it – be transparent about what they have and what their intentions are.
If you have an estate that you will be passing along, don’t forget these four key considerations and to review your estate plan every five years regardless. If you are on the other side of the equation and experiencing a sudden wealth event, here are some resources on navigating an inheritance. Losing a parent is never easy, but this checklist can help.
Need your daily dose of inspiration? Don’t miss ourFinancial Feminist Spotlighton Alex Morgan and all those star female athletes that have fought tirelessly for more financial recognition and control. After being undervalued as athletes their whole lives, they are fighting back and winning! And of course, click on for a few of our favorite summer shopping pleasures – from the not-your-mother’sdish rackto the best3-way charging station to a fashionable smart watch band(finally!) – enjoy!
Financial Feminist of the Month
Alex Morgan
"We’ve been undervalued as athletes our whole lives."
Soccer star Alex Morgan, among others, is leveraging her popularity and success to push for gender equality and change. Read more from The Wall Street Journalon the influence that Alex Morgan has had in the sports industry and beyond.
On the Great Wealth Transfer
The Greatest Wealth Transfer In History
Read| Forbes - The Great Wealth Transfer is happening. What does that mean?
Taking Advantage of the Coming Great Wealth Transfer
Read| AJC - The question isn’t will The Great Wealth Transfer happen? We know that it will. The question is how will you handle it most effectively for your happy retirement and for the legacy of you and your family?
4 Considerations for Women Going Through a Wealth Transfer
Read| UMB - Women will benefit from the Great Wealth Transfer - what should they consider?
5 Ways to Prepare Your Kids
Read| HSBC - You actually do need to talk to your kids about money - especially your money.
Smart Ways to Handle an Inheritance
Read| Kiplinger - Here are some tips to help you navigate an inheritance.
Issues to Consider
When Updating Your Estate Plan
View| fpPathfinder - You should review your estate plan every five years, this list will help you think through everything you need to.
During a Sudden Wealth Event
View| fpPathfinder - Sudden inheritances can be overwhelming - here are things to be mindful of.
When a Parent Passes Away
View| fpPathfinder - Losing a parent is is not easy, this checklist could help.
Other Insights
Travel Agents Become Lifesavers As People Book Summer Trips
Read| Bloomberg - Now is a great time to engage with a travel agent for your summer plans.
How to Fix Twitter - And All of Social Media
Read| The Atlantic -Some great ideas to help the dilemma of social media.
We were holding out on smart watches for a long time - we didn't think they were very fashionable. Then we found Cape Diablo - we love the look of these watch bands!
The Financial Feminism Network
Read and viewour introduction to BakerAvenue's Financial Feminism MasterClass series.
FINANCIAL FEMINISM
The theory that both women and men should benefit equally from engagement in financial markets. Our goal is to empower women financially in creative and dynamic ways to live a life they design with intent and purpose.
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Since 2004, BakerAvenue has guided clients through personal and professional transitions. Our firm provides comprehensive wealth management and investment expertise for high-net-worth individuals, families, trusts, foundations, and endowments.
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