When the 401(k) was introduced in the late 1970s, it wasn’t meant to replace pensions—it was meant to supplement them. Born out of a little-noticed section of the Revenue Act of 1978 (Section 401(k)), it allowed employees to defer compensation tax-free into a retirement account. The idea was simple: give workers a tax break for saving, and employers a lower-cost benefit option.
Retirement should be a season of peace and purpose—not a minefield of silent tax traps. Yet for high-net-worth (HNW) Americans, one overlooked line on a tax return or a poorly timed withdrawal can quietly vaporize six or even seven figures over a few decades. The irony? Many of these mistakes stem not from complexity, but from inertia—failing to act, plan, or adapt.
Choosing the right financial advisor is not just a financial decision—it's a profoundly personal one. The relationship you form can influence the trajectory of your wealth, retirement security, and overall peace of mind.
As the U.S. ramps up tariffs in a bid to protect domestic industries and combat foreign trade imbalances, there’s an overlooked casualty: the retiree on a fixed income. While tariffs may seem like a geopolitical tool wielded far from home, their impact is increasingly personal—especially for older Americans who can’t just “earn more” to keep up.
Unlike brokers who often operate under a suitability standard—meaning they can recommend products that are merely “good enough”—RIAs are legally bound by a fiduciary duty. This means they must act in your best interest. No commissions. No hidden incentives.
