Charles Kenahan | Managing Director/Financial Advisor | Newport, Rhode Island

Estate planning is an essential part of financial management . It ensures that your assets are distributed according to your wishes and that your family is provided for in the event of your passing. Unfortunately, many people delay or avoid estate planning due to misconceptions or a lack of understanding. This guide will help you navigate the critical components of estate planning and protect your legacy with confidence. The Basics of Estate Planning At its core, estate planning is about deciding how your assets will be handled during your life and distributed after your death. While many think estate planning only applies to the wealthy, it is beneficial for everyone, regardless of financial status. A well-crafted estate plan ensures your wishes are respected and can save your loved ones from potential legal battles or costly taxes. Creating an estate plan also provides peace of mind by addressing other essential matters, such as healthcare decisions and the guardianship of minor chil

Wealth management is more than just growing your assets—it's also about preserving them by minimizing tax liability. In today's complex tax environment , effective tax strategies can significantly affect the growth and protection of your wealth. By employing a tax-efficient strategy, you can retain more of your hard-earned money and optimize your financial future. Here are key strategies to help you minimize tax liability while maximizing returns. The Benefits of Tax-Deferred Accounts One simplest and most effective way to minimize tax liability is to take advantage of tax-deferred accounts such as traditional IRAs, 401(k)s, and 403(b)s. These accounts allow you to contribute pre-tax income, reducing your annual taxable income. The money in these accounts grows tax-deferred, meaning you won't pay taxes on the earnings until you start making withdrawals in retirement. By deferring taxes until later in life, you can allow your investments to grow without the drag of taxes eac

 

Yacht racing has captivated sailors and enthusiasts alike for centuries, blending the art of sailing with intense competition and strategy. For many, the thrill comes from the unpredictability of the wind and water, combined with the precise execution of tactics that can mean the difference between victory and defeat. This article delves into the core strategies that drive success in yacht racing and recounts some of the most exhilarating stories from the seas, highlighting the skill, endurance, and teamwork that define this remarkable sport. The Evolution of Yacht Racing Yacht racing, once a leisurely pastime of European aristocrats, has grown into a highly competitive sport that demands precision and expertise. The history of yacht racing dates back to the 17th century when sailors first began competing in organized races. The creation of the America’s Cup in 1851 marked the beginning of international competitive yacht racing, and today, this trophy remains one of the most prestigio