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

Yacht racing is an exhilarating sport that combines skill, strategy, and the spirit of adventure . Whether you're a seasoned sailor or a newcomer eager to explore the thrill of competitive sailing, this guide will help you understand the basics of yacht racing and set you on a course to participate confidently. Understanding the Basics of Yacht Racing Yacht racing can initially seem complex, with its own rules, techniques, and jargon. The sport involves navigating a course marked by buoys or other marks, which must be rounded in a specific sequence. Races can vary significantly, from short inshore races lasting a couple of hours to offshore races spanning several days or weeks. The first step for any aspiring yacht racer is to familiarize yourself with the basic rules and classifications of yacht racing. The Racing Rules of Sailing, governed by the World Sailing Association, provide a framework that ensures safety and fair competition. It's also essential to understand the diff...

Estate planning is more than just creating a will; it’s about ensuring that your hard-earned wealth is managed and distributed according to your wishes. A well-thought-out estate plan provides financial security for your loved ones while reducing stress during difficult times. By understanding and implementing key elements of estate planning, you can take control of your financial legacy and create peace of mind for the future. Why Estate Planning Matters Estate planning ensures that your assets are distributed according to your wishes, but its importance extends beyond that. It allows you to manage your wealth efficiently, minimize taxes, and reduce potential conflicts among your heirs. Without an estate plan, your assets could be tied up in probate, leading to delays, legal fees, and uncertainty for your family. Moreover, estate planning isn’t just for the wealthy. Whether you own a small home, significant investments, or cherished personal possessions, planning allows you to design...

Wealth management is a comprehensive approach to managing an individual's or family's financial life. It encompasses everything from investment planning to estate management, insurance, tax strategies, and retirement planning. The goal is to ensure long-term financial security and growth while aligning with personal values and goals. Effective wealth managemen t requires a combination of tools, techniques, and professional advice to address the complex challenges of managing and growing wealth. By understanding these resources and strategies, individuals can take a more proactive role in their financial future. Building a Strong Financial Foundation The first step in wealth management is establishing a solid financial foundation. This foundation typically begins with budgeting, debt management, and saving for short-term and long-term goals. Building an emergency fund, paying down high-interest debt, and setting aside money for future needs are crucial elements of this phase. Wi...

Effective wealth management is more than just accumulating assets; it involves careful planning, strategic investing, and mindful decision-making to secure your financial future. Whether you are just beginning to build wealth or are looking to optimize your financial portfolio , understanding the principles of wealth management is key to achieving long-term economic success. Here are some essential strategies to guide you through the process. Set Clear Financial Goals Before diving into wealth management strategies, it is crucial to define your financial goals. What are you working towards? Is it retirement, purchasing a home, funding your children's education, or building a legacy for future generations? Setting clear and measurable goals gives your wealth management efforts direction and purpose. For each goal, establish a timeline and determine how much money you'll need to meet your objectives. Break these larger goals down into smaller, actionable steps. This approach allo...