Information and education are an essential part of the client experience, and we
are here to provide resources and insights to help keep you advised.
For ultra high-net-worth (“UHNW”) families, integrating health into wealth planning isn’t optional — it’s essential for legacy, performance, and peace of mind. The good news: Individuals today are living longer. Over the last 200 years, life expectancy in the US has doubled and now averages 78.8 years.1 The bad news: This tremendous gift also brings new responsibilities. With extended longevity comes the reality of rising healthcare needs, increasing complexity of care, and the need for thoughtful and prolonged preparation. Just as families plan deliberately for education, retirement, and estate transitions, strategic planning for health and care has become a critical pillar of generational resilience. For UHNW families, where stakes are high and expectations of quality and coordination are nonnegotiable, this planning is both a safeguard and a legacy strategy. The upcoming holiday season brings families together in ways that few other times of year do. Amid celebrations and meaningful traditions,...
08.15.2023
The cost of a college education is typically the first great expense a young person encounters. According to the Massachusetts Educational Financing Authority (www.mefa.org), an average in-state public college will run roughly $24,000 for the 2023-2024 year and a little more than $100,000 for a four-year degree. Meanwhile, the average private college will cost about $55,000 for a starting freshman and could total more than $230,000 over the course of four years. Herbert Stein, an American economist, famously said, “If something cannot go on forever it will stop.” The growth of college costs will peak at some point and then recede; when that will occur is much more difficult to predict. Until that time, we will address circumstances as they currently are—how to finance this significant expenditure and how to view saving for college as a wealth transfer strategy. For the purposes of this piece, we will assume that our future...
