As a business owner, you’ve worked hard to build something of value. But have you taken the steps necessary to protect your business—and your family’s financial future—if something unexpected happens? An estate plan isn’t just for retirees or high-net-worth individuals.… Read Now >>
Every investor has a different relationship with risk. Understanding your personal risk tolerance is essential to building a portfolio that supports your long-term financial goals while helping you sleep at night. At Illumination Wealth, we believe that knowing how much… Read Now >>
Recessions are an inevitable part of the economic cycle. While it’s impossible to time them perfectly, you can prepare your investment portfolio to weather downturns with greater resilience. Recession-proofing doesn’t mean avoiding risk entirely. It means managing it wisely. By… Read Now >>
High-net-worth individuals (HNWIs) often have access to a wider range of investment opportunities, professional advice and financial tools. But greater wealth doesn’t always mean better decision-making. In fact, many affluent investors fall into traps that can erode long-term wealth if… Read Now >>
For many entrepreneurs, building a business is a lifelong pursuit. But at some point, every owner faces the question: What’s next? Whether you’re planning to sell, pass your business to the next generation or transition into a more passive role,… Read Now >>
When starting or growing a business, one of the most important decisions you’ll make is how to structure it legally. Choosing between an LLC, S-Corporation (S-Corp) or C-Corporation (C-Corp) impacts everything from how you’re taxed to your personal liability and… Read Now >>
If you’re making quarterly estimated tax payments, you know the drill. Stay on schedule or pay the price. But what many taxpayers don’t realize is just how expensive a missed payment can be. The IRS currently charges a 7% penalty… Read Now >>
Last week, we highlighted the mega backdoor Roth strategy for solo business owners. For high-income earners, a regular backdoor Roth strategy can pay significant retirement saving advantages. The Roth IRA has always been an appealing option with ax-free withdrawals in… Read Now >>
If you’re self-employed or a business owner with no full-time employees—and you’re drawn to the long-term advantages of Roth-style retirement savings—the mega backdoor Roth strategy may be one of the most valuable financial tools at your disposal. What is the… Read Now >>
If you have a traditional IRA and are age 73 or older, you’re likely familiar with required minimum distributions (RMDs). These are the annual IRA withdrawals the IRS mandates once you reach a certain age. These withdrawals are based on… Read Now >>