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

Wealth management is not just for the wealthy—it’s a critical strategy for anyone looking to grow, protect, and preserve their financial resources over time. Effective wealth management aims to ensure that your financial assets are working for you in the most efficient way possible. Whether you’re just beginning to accumulate wealth or investing for years, understanding key wealth management strategies is crucial for achieving long-term financial stability. Set Clear and Realistic Financial Goals The foundation of any wealth management strategy begins with clear, well-defined financial goals. It’s developing your needs without understanding what is challenging for you to work toward. Your financial goals will shape your investment strategy, help you determine your risk tolerance, and establish how you will allocate your assets. Start by identifying your short-term and long-term goals. Short-term goals might include buying a car, paying off debt, or building an emergency fund, while lo...

Building and preserving wealth requires more than smart investments —it demands a thoughtful approach to managing taxes. By employing tax-smart strategies, individuals can reduce their tax burden, boost investment returns, and secure a more prosperous financial future. This article explores actionable techniques for integrating tax planning into wealth management. Structuring Investments for Tax Efficiency A key step in tax-smart wealth management is structuring investments to minimize tax liabilities. Tax-advantaged accounts, such as 401(k)s, IRAs, and Health Savings Accounts (HSAs), are powerful tools for achieving this goal. Contributions to traditional 401(k)s and IRAs reduce taxable income, while earnings grow tax-deferred, allowing more funds to compound over time. Meanwhile, Roth accounts offer an alternative strategy, especially for those who anticipate higher tax rates in the future. Contributions are made with after-tax dollars, but withdrawals in retirement are entirely tax-...

 Sailing is a sport that demands a balanced mix of preparation, skill, teamwork, and adaptability. Whether you're a seasoned sailor or a newcomer to the world of yacht racing, success on the water depends on meticulous attention to detail and a willingness to learn and improve. From the initial stages of planning and strategizing to the execution of flawless maneuvers during the race, each step plays a vital role. Equally important are elements like maintaining the vessel, fostering strong teamwork, staying updated on race tactics, and leveraging modern technology. Together, these factors form the foundation for achieving competitive excellence in yacht racing. By focusing on continuous improvement and embracing both traditional sailing techniques and innovative tools, participants can navigate challenges and maximize their potential on the racecourse.  Preparation and Strategy for Success   Winning a yacht race starts well before the starting gun. Thoroughly studyin...

Wealth management is more than just managing money—it’s about building, protecting, and distributing wealth in a way that meets your personal goals and secures your financial future. Whether you're just beginning your wealth-building journey or already well on your way, mastering wealth management strategies is crucial for economic success. This article will explore key wealth management strategies to help you manage your finances effectively and create a prosperous future. The Role of Wealth Management: A Comprehensive Approach Wealth management is a multifaceted process that integrates various financial planning and strategy aspects. It involves managing assets and ensuring that your wealth works to achieve your personal and family goals. A successful wealth management strategy includes budgeting, investing, retirement planning, tax strategies, insurance, and estate planning. Wealth management's primary goal is financial stability and security, ensuring that wealth grows ste...