Wealth – The Truth About Wealth

Securing Your Family’s Future Wealth Q&A (Ep. 119)

By thetruthaboutwealth | January 24, 2024

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How can you secure your family’s future wealth?

In short, anticipate change, stay informed, and reach out to your advisor.

This week, John and Michael Parise elaborate with a discussion about the importance of proactive wealth management. They highlight the need for individuals to ask questions, educate themselves, and consult with their advisors to secure a better future. John and Michael also briefly talk about the potential benefits of alternative investments in the current market conditions.

So, listen in as they emphasize the significance of tax efficiency, liquidity, and the need for individuals to focus on asset protection in estate planning.

John and Michael discuss:

Some of the concerns and questions they’ve recently received from clients regarding financial plans and estate tax laws
Client frustration with other advisors on their financial team not being proactive enough
Challenges within the advisor community and the need for awareness of options for high-net-worth individuals
Potential benefits of alternative investments such as gold, silver, and oil and gas in the current market
The need for diversification in investment portfolios due to current economic and geopolitical uncertainties
The importance of tax efficiency and exploring tax planning strategies
Some concerns about potential changes in tax laws and the need to focus on asset preservation
And more!

Resources:

Connect with John and Michael Parise:

Case Study: Don’t Let Procrastination Hinder Your Generational Estate Planning (Ep. 94)

By thetruthaboutwealth | November 9, 2022

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They say, “an ounce of prevention is worth a pound of cure.”

When families procrastinate with advanced estate planning, it can jeopardize the success of the next generation and their assets.

In this episode of The Truth About Wealth, John and Michael Parise share a case study that illustrates how they’ve been helping one particular family with their estate planning. Listen in as John and Michael describe their process of minimizing generational taxes by 80% and preparing the next generation to inherit the family business.

John and Michael discuss:

Ways Copper Beech approaches this case study and clients focused on estate planning
The estate planning options they suggest for asset protection
How families can reduce and protect themselves from estate tax exposure
How to effectively prepare the next generation to inherit the family business and/or assets
The role of trusts and liquidity when it comes to estate planning
And more!

Connect with John and Michael:

71. Opportunities Available For Gold and Silver Investments With Andy Schectman

By thetruthaboutwealth | December 15, 2021

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Precious metals like silver and gold can be seen as an investment, but they could also be viewed as a means for wealth preservation.

In this episode, John and Michael Parise are once again joined by Andy Schectman, CEO of Miles Franklin Precious Metal Investments. Andy explains the opportunity of a generation that silver is, and how it is a pathway to gold. Plus, he shares his advice for people looking to allocate gold and silver as an assets class within their portfolio.

Andy discusses:

The extraordinary need for silver
Why Andy views gold and silver as wealth, not an investment
How people look at gold and silver as a way to grow their wealth
Why silver is currently the opportunity of a generation
And more

Connect with Andy Schectman:

Connect with John and Michael:

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

About Our Guest:

Prior to starting Miles Franklin, Ltd. in 1989, Andrew became a Licensed Financial Planner, specializing in Swiss Franc Investments and alternative investments. At Miles Franklin Ltd., a company that has eclipsed $5 billion in sales, Andrew has developed an operation that maintains trust, collaboration, and ethical behavior, superior customer service and satisfaction to better serve their clients. He is responsible for overseeing the firm’s operations and business functions; including strategy and planning, account management, finance, and new business.

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