The Truth About Wealth – Page 5 – The Truth About Wealth

Looking To Sell Your Business? Here Are Your Options (Ep. 84)

By thetruthaboutwealth | June 15, 2022

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So you’re looking to sell your business.

Remember, you can’t spell succession without success.

In this episode of The Truth About Wealth, John and Michael Parise cover all the options you have when selling your business. John and Michael detail how to determine the right time, the timelines you should follow, and the pros and cons you should consider when looking to sell a family business.

John and Michael discuss:

The importance of having a succession plan for your business
The value of leadership and generational family conversations when you’re looking to sell your business
How to determine if it’s viable to keep your family business
The truth about selling your company to a strategic purchaser or a competitor
What are the benefits of selling your business to your management team
What you should know about employee stock ownership plans (ESOP) and how they can help your succession
And more!

Connect with John and Michael:

Learn How To Allocate Your Assets To Meet Goals (Ep.83)

By thetruthaboutwealth | June 1, 2022

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Do you know what to do when the markets are saturated?

A good idea is to reallocate your assets to protect your investment portfolio.

This week, John and Michael Parise go back to basics with a conversation on asset classes. They categorize them while explaining what to do with them, what to expect from them, and how to protect them.

John and Michael discuss:

How CDs work
What are the pros and cons of bonds
Stock investing and when you should buy into the market
Real estate as a wealth-producing asset
The truth about investing in gold, silver, and commodities to balance out stresses in the market
And more!

Resources:

Connect with John and Michael:

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 54 – Annuities as a Helpful Income Planning Tool – With Michael R. Harris, CFP®, ChFC

By thetruthaboutwealth | April 14, 2021

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The Alliance For Lifetime Income’s Michael R. Harris is all about helping YOU address the risk of outliving your retirement income.

In this episode, John and Michael Parise speak with Mike Harris to discover everything Mike has to say about annuities, and how to creatively use them within your income planning.

You will learn:

An investor-related definition of annuities
Why it is so important to plan for retirement-related income streams
The pros and cons of a traditional annuitization
What does the general public think of annuities: Research done by The Alliance For Lifetime Income
How advisors and clients can approach annuity discussions, cost and value-wise
And more!

No matter if it’s an investment or annuity – they all need planning. Listen in to find out why!

Resources: Copper Beech Financial Group | (856) 988-8300 | Michael R. Harris, CFP, ChFC | The Alliance for Lifetime Income | Cited Source: Risky Business: Living Longer Without Income for Life | Cited Source: CBS News: How to estimate your lifetime retirement paycheck

Episode 53 – A Discussion on Business And Family Leadership – With Guest Robert Brown

By thetruthaboutwealth | March 17, 2021

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Strong leadership is crucial for generational wealth and business transfer.

In this episode, John and Michael Parise sit down with their first client guest, CEO and president of American Asphalt Company, Robert Brown. Robert draws from his own business experience and journey to discuss the importance of sharing leadership values and training with the next generation to continue achieving success once the business is passed down.

In this episode, you will learn:

How and when leadership became a core and philosophical concept for Robert
Lessons Robert learned while becoming a business leader
Tips how to pick the next leader in the family
Trust, communication and professional leadership training: How to be a great coach to employees
How Copper Beech has helped Robert establish buy-sell agreements for his own firm
And more!

Tune in today to discover how leadership can help you achieve personal and generational business success!

Resources: Copper Beech Financial Group | (856) 988-8300 | American Asphalt Company | Robert Brown

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