Markets stabilized today after yesterday’s sell-off in U.S. equities left the S&P 500 Index down -3.1%, with losses in 13 of the last 14 days. Mixed corporate earnings and weak housing data fueled concerns that rising prices driven by the U.S.-China trade war, along with rising interest rates, are beginning to crimp economic growth.
Selling a business or passing it on to the next generation can be the most important financial event in an entrepreneur’s lifetime. But Canadian small business owners are not succeeding when it comes to succession planning, reveals a new IPC Private Wealth poll.
Joy. Relief. Anxiety. Sadness. These are some of the emotions that people feel when they receive a large inheritance. While an inheritance allows you to put many of your financial concerns aside, you may also be dealing with the death of a loved one, which is never easy. It’s a strange situation for many people – enjoying your inheritance at your loved one’s expense.
Regardless of gender, a good financial plan is one that is unique to you and the goals you set for yourself. But a financial plan that works for the man in your life may not automatically work for you.
Imagine an affluent couple whose wealth is self-made after decades of hard work and disciplined financial planning. They have a child who’s 18. Now, the couple is giving serious thought to the handing down of wealth.