Invest – The Truth About Wealth

60. The Generational Impact Of The SECURE Act — Part One

By thetruthaboutwealth | July 7, 2021

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A recent provision to the SECURE Act could have major implications on how qualified plans, including your IRA, 401(k) and 403(b), are inherited by your children. It’s important that you understand the ramifications of this provision in order to protect your wealth.

In this episode, John and Michael Parise discuss these new provisions of the SECURE Act. They reveal the problems you could face if you don’t prepare properly and the importance of taking future generations into consideration when you’re developing your plan.

John and Michael discuss:

What the SECURE Act is and how new provisions may impact your plan
How to recognize when you may have a problem with your plans—and how to fix it
How your children could be taxed if you don’t take the SECURE Act into account
And more!

Connect with Copper Beech:

Episode 50 – How Future Generations Can Maintain Their Family’s 100-Year Vision – Part 2

By thetruthaboutwealth | February 3, 2021

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Are you in your family’s second or third generation, and interested in learning how to carry on your family’s wealth?

In part two of this two part series, John and Michael Parise discuss different considerations second and third generations must have when handling their family’s wealth, highlighting the importance of effective communication and data organization.

In this episode, you will learn:

The role of the second generation in passing down family wealth
Legacy letters and mission statements as generational roadmaps
How culture shift impacts generational wealth
How having a “beginner’s mind” can help when building a family’s future
Easy ways to involve later generations in the family’s wealth
And more!

Listen today to find out the role of the second and third generations when handling and passing down family revenue!

Resources: Copper Beech Financial Group | (856) 988-8300 | John Parise | Michael Parise | Creating and Building a 100-Year Family Vision (Part One)

Episode 49 – Creating and Building a 100-Year Family Vision – Part 1

By thetruthaboutwealth | January 20, 2021

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There’s no greater satisfaction than knowing and seeing that the wealth you built is passing down through the generations correctly.

Would you agree?

In part one of this two-part mini-series, John and Michael Parise explain everything you need to know about correctly handling multigenerational wealth. They highlight the importance of being aligned on the family financial strategy, no matter what generation you are.

In this episode, you will learn:

John’s take on what the “shirtsleeves to shirtsleeves in three generations” proverb means
How generations one, two, and three have taken care of family wealth historically
John and Michael’s insight on generational leadership
The importance of being responsible with your wealth
And more!

Tune in to find out how family values, adaptation, and communication can influence the establishment of a multigenerational wealth vision!

Episode 48 – A Trip Around Italy Examining Wine – With Guest Tim O’Rourke

By thetruthaboutwealth | January 6, 2021

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On this leg of our Wine Adventure, we take a look at the Italian region!

In this episode, John and Michael Parise sit down with Tim O’Rourke to identify the wines that come out of Italy, what sets these wines apart from the rest and how you can choose an Italian wine that pairs with your meal.

In this episode, you will learn:

What wines come out of the different regions of Italy
How you can find quality wines for quality prices
Tools that you can use to find the wine you are looking for
What you can do to find your wine preference
What Italian wines pair with what meals
And more!

Tune in now to add some information to your knowledge on wine and how you can find one that suits you!

Resources: Copper Beech Financial Group | (856) 988-8300 | John Parise | Michael Parise

Episode 47 – A Deep Dive into The French Wine Industry – With Guest Tim O’Rourke

By thetruthaboutwealth | December 23, 2020

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France is one of the world’s largest producers of wine, and is the source of many grape varieties such as Cabernet Sauvignon, Chardonnay, Sauvignon blanc, and Pinot noir.

In this episode, John and Michael Parise sit down with wine investor Tim O’Rourke to examine what sets France apart as a producer of wine and how wine can be a multi-generational business, as well as tips for wine collecting and storage.

In this episode, you will learn:

How and where Cabernet Sauvignon was initially created
Why winemaking is a “freelance” creation that depends on the winemaker
Tim’s take on what determines the cost of wine bottles
Winemaking as a multi-generational business
The importance of being “temperature consistent” when storing wines
And more!

From France to the rest of the world, tune in to find out everything you need to know about the evolution of French wine and champagne!

Resources: Copper Beech Financial Group | (856) 988-8300 | John Parise | Michael Parise

Episode 46 – Measuring Risk In A Family Wealth Plan

By thetruthaboutwealth | December 2, 2020

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To what extent have you involved and taught your family about risk calculation?

In this episode, John and Michael Parise explain the importance of communicating and involving your family in wealth plan risk calculation. They highlight the different risks you and your family should ALWAYS consider when it comes to generational wealth planning.

In this episode, you will learn:

Must-have tax considerations when stepping out of the market
How emotions can impact the amount of risk an individual is willing to take on
How Copper Beech Financial Group prepares clients for potential business risk
The importance of communication when it comes to assessing family risk
And more!

Tune in as John and Michael dive deep into family risk assessment while explaining that the more you can preserve in taxes – the more your account value will grow!

Resources: Copper Beech Financial Group | (856) 988-8300 | John Parise | Michael Parise

Episode 45 – The Financial and Emotional Components of Legacy Letters

By thetruthaboutwealth | November 13, 2020

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In many cases, legacy letters are the main vessel for transferring financial assets down the generational line.

In this episode, John and Michael Parise explain the importance of elaborating and involving your family in legacy letters, and highlight the different considerations you should have when you’re prepared to craft your own.

In this episode, you will learn:

John’s take on using legacy letters as a way to be remembered
The difference between the communicational and emotional sides of legacy letters
The difference between a mission statement and a legacy letter
Tips for using legacy letters as tools to involve grandchildren
The role of language in defining a trustee’s authority level
And more!

Listen in as John and Michael define legacy letters as tools to communicate your wishes to future generations!

Resources: Copper Beech Financial Group | (856) 988-8300 | John Parise | Michael Parise | Family Trusts Book

Episode 44 – Bringing The Next Generation Into The Family Business – Part 2 — With Guest Jeff Savlov

By thetruthaboutwealth | October 28, 2020

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Involving the next generation in your family business can be delicate, and it’s important to have a strategy for approaching the transition.

In part two of this series, John and Michael Parise, along with guest Jeff Savlov, continue navigating the path of skill development and bringing the younger generation into the family businesses.

In this episode, you will learn:

The age when you should start preparing the next generation for work in the family business
What could happen when children aren’t prepared to take over
The importance of practicing meritocracy in a family business
In-law family involvement in pre-established family businesses
The most important attributes leaders should have
And more!

Tune in as John, Michael, and Jeff discuss the considerations you should have when bringing the younger generation into business!

Resources: Copper Beech Financial Group | Jeff Savlov | Blum & Savlov | Part 1

Episode 32 – Impact Investing — with Christopher Vroman and Dr. Laura Fenster Rothchild

By thetruthaboutwealth | May 6, 2020

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Organizations are using impact investing to tackle social issues alongside a financial return.

In this episode of The Truth About Wealth Podcast, John & Michael Parise sit down with guests Christopher Vroman and Dr. Laura Fenster Rothschild of Emmett Partners to discuss impact investing, and how organizations are transitioning to the practice.

In this episode, you will learn:

The basic concept of impact investing
About the broad spectrum of impact investing
The benefits of impact investing
Why companies looking to create impact will become more prosperous in the future
And more!

Tune in to learn about impact investing!

Resources Copper Beech Financial Group | Emmett Partners