What Are the Wealthy Really Worried About?
At GROCO we work very closely with some of the most highly successful people in the world and because of that we know what makes these types of individuals tick. We understand how they think and how they operate and we offer top notch business consulting to help them be successful. We also know what the wealthy are really worried about. And when it comes to investing, wealthy investors’ biggest concern is to protect their wealth, even more so than big returns.
In fact, wealthy investors typically focus on a few particular strategies as they ultimately make plans to pass on their values and their wealth to future generations. Because we work with many of these individuals we are able to share with you the most common strategies employed by the highly successful. Let’s take a closer look.
Creating an effective cash-flow model is at the top of the list of most wealthy investors. Another common strategy used by many of the wealthiest clients we have is to maximize their retirement accounts. That means that they contribute as much as they can to their retirement accounts. Backdoor Roth conversions are also another popular move commonly employed by the wealthy.
Wealthy investors also focus on lowering their income and their capital gains taxes, as well as doing everything they can to avoid estate taxes. Lastly, many of the wealthiest people we work with put a strong emphasis on philanthropy. They not only put a plan in place to distribute their wealth but also their values.
At GROCO, we know that the wealthy have a lot of things to be concerned about, not the least of which is protecting that wealth. That’s why we help the highly successful prepare for the future with careful tax planning and business consultation, among other things. We can help you, too. Just click here to contact us or give us a call at 1-877-CPA-2006.
Will Taxing the Rich Even More Improve Inequality?
Will Taxing the Rich Even More Improve Inequality? It’s been the cry of democratic lawmakers and many of the less fortunate for years: “We need to tax the wealthy even more.” “The rich have to pay their fair share of taxes, too.” The problem is the rich already pay a huge portion of the country’s…
It Pays to Be Rich for These Five Tax Breaks
It Pays to Be Rich for These Five Tax Breaks Although it’s true that the ultra-wealthy are heavily taxed, and in many cases unfairly, there are also some tax break advantages that favor the upper class more than those in the middle. Let’s take a look at some of these breaks. Most common and first…
New Jersey Governor Says Enough is Enough on Taxing the Wealthy
New Jersey Governor Says Enough is Enough on Taxing the Wealthy It seems that no tax is a bad tax when it comes to the “left” side of the government. It’s a well-known fact that the wealthiest Americans pay the largest portion of the country’s taxes. However, there are some government leaders that lean “right”…
Clinton’s Using Careful Strategies to Avoid Tax They Support
Clinton’s Using Careful Strategies to Avoid Tax They Support Have you ever wondered what wealthy democrats do when tax laws they support and vote for come back to apply to them? Although people typically associate being wealthy with republicans, there are plenty of rich democrats in the nations’ capitol as well. So just what do…