FINANCIaL
FIELd NOTES
Missing IPOs Is Okay
SpaceX has had quite an exciting first few weeks of trading. Space Exploration Technologies Corp. (SPCX) started trading as an initial public offering (IPO) on June 10th and shot up nearly 40% in just a few days, hitting roughly $200 before pulling back sharply. As of June 26th, the stock sits around $153. If you bought at the peak, you're already down more than 20% in under two weeks. If you bought at the open, you’ve roundtripped.
The Future of Social Security (2026 edition)
Will there be anything left when I retire? Will my benefits get cut? These are some of the most frequent questions I get when it comes to someone’s retirement plan. And the media loves to talk about the Social Security problems.
Fortunately, there is data to answer these questions. Every year the Board of Trustees for Social Security reviews the financial status of the trust fund that pays out Social Security benefits. Recently, the board released its 2025 report, and below is my summary…
Teaching Kids That Money Is Finite
If your children or grandchildren never feel the sting of running out of money, will they ever learn to manage it? For families with wealth, this is one of the more underappreciated challenges in raising up the next generation. I’ve seen this firsthand from many clients who express concerns that their grandchildren don’t seem to share the same financial values they do…
How Many Hours Should Your Teen Really Work?
Most clients I’ve met with have two reactions when their teen child or grandchild lands a job. The first is pride, and the second is worry about time management and homework.
How much work is too little? Too much? It turns out, this question has been researched. I recently came across this article from The University of Minnesota and a few other institutions that have followed this topic for decades…
Optimizing Tax Lot Selling
Many clients have spent decades building a brokerage account by consistently saving, reinvesting dividends, and staying invested through the bumps. Now, as they approach retirement, they are ready to start drawing it down. The question most people never think to ask until they are actually selling: which shares do you sell first?
The answer can save you thousands of dollars a year in taxes…
When Tax Brackets Lie to You
On paper, a retiree can look like they are firmly in the 12% bracket. In practice, their next dollar of income can cost nearly three times that. The reason is due to the way the tax system works, particularly something called “income stacking.”
Take a retired couple, the Smiths. Their income this year looks like this: $48,000 in ordinary income from Social Security, a small pension, and interest, alongside $130,000 in long-term capital gains and qualified dividends from their brokerage account…