Here's What We Think

There's a difference between HOPING that you will become financially independent and doing what it takes to get there. In my experience in working with my personal CPA and estate attorney, I've come to realize that cost is only a factor in the absence of value. In those relationships, where I'm the client, if I feel I'm getting the value that I want, I am HAPPY to pay these professionals their keep. They are doing work I can't do, don't want to do, and are going above and beyond to take care of me? Yup, I'm a happy camper.

There is one gap in plans I see relentlessly and repeatedly from our planning clients. Even those clients that are doing everything else right and have a 95%+ chance of long term plan success... Here it goes: The one planning deficiency that consistently comes up with our young professional high income earning clients (30-49 years old and making north of $250k as a household) is... They do not have enough term life insurance.

Every so often, I hear prospective clients seeking to attain "passive income" usually by way of rental properties; "How do I earn passive income," "How can I quickly increase my passive income," and the list of questions I hear continues...

Wondering what actually occurs in our planning process? In part one I explained why having the answer to 3 specific questions is the very first step. In part two I will cover what happens once we have those answers... Have you answered these 3 questions?

A couple has to make compromises in terms of understanding each other’s future plans for investing. This is essential for retirement, and needs to be covered quick.

Companies, organizations, and investment funds make a difference in the world by fusing natural elements with man-made discoveries. Thanks to technology impact investments have gained substantial recognition because of its measurable investment growth. Today, impact investors are interested in business development and ecological advancements for improving the quality of life.

Often I get asked, "how do you get paid?" Most financial professionals talk about how important it is to have a financial plan, but then turn around and offer a "free plan" with an end game already in mind. At Drucker Wealth we are so committed to our financial planning process and know how much value our clients will derive from every step of our process and that is exactly why charge for it!

If you work in tech as its likely that Restricted Stock Units are a part of your Equity Compensation package. Making decisions around your RSUs can be overwhelming. Read this blog to learn more about how RSUs can can impact your financial plan.

The end of the year sparks something in a lot of us to start giving to charitable causes. For many people, the holiday season brings out the desire to give our money or our time to those less fortunate. But what if we were more purposeful with our giving strategy?

Today I am rounding up my 5 key takeaways on the proposed legislation that may affect some of the tax planning strategies we often implement with our HENRY clients, such as the Mega Backdoor Roth IRA.

Whether you currently have young children or are thinking about starting a family, you know with certainty your finances are going to be impacted. Review the top 5 tips to ensure your growing family is on the right path for financial success.

We are living through an extravagant bull market… U.S. Stocks have returned over 600% since March of 2009. And over the last few years especially, it seems like every time you look at your accounts, you’ve made more money! 📈 Despite Covid, it’s been a fun 2 years to pull up your statements! And so it’s natural to get comfortable & to start thinking that the market only trends one way! But, honestly, this type of thinking is dangerous…

Financial procrastination is when you have financial obligations and moves to make, but you put those decisions aside on a continuous basis. For instance – you know you need to balance your checkbook, but you continue waiting until things are going wrong. Or, you may have student loans and need to apply for a deferment but you let the time-lapse and end up in the credit bureau.

Lance Drucker, ChFC®, CLU®, was ranked #55 on Forbes NYC Best-In-State Wealth Advisors in 2021, developed by SHOOK Research. The list, which recognizes advisors from national, regional and independent firms, was released online February 11, 2021. Each year advisors are carefully selected based on an algorithm of qualitative and quantitative criteria.