The Wealth Conservancy, Inc.

The U.S. Department of Transportation (DOT) has recently introduced a new rule aimed at protecting airline passengers and ensuring fair treatment during travel disruptions. Read more on what travelers need to know about the DOT’s new rule and its implications.
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There are many reasons why inheritors of significant wealth may find themselves feeling lonely, even those who have frequent interactions with a large network of individuals. Loneliness is subjective and not easily measured, and the size of a person’s social network is not a predictor of loneliness.

Loneliness can manifest in various forms, but all run the risk of becoming chronic and pervasive if not addressed. At The Wealth Conservancy, we understand the challenges of inherited wealth and offer ways in which to engage with us to help you navigate the complexities of wealth and empower you to make informed decisions that enhance your financial independence and personal fulfillment. Contact us to learn more. https://bit.ly/4f8EwM7

Inheritance isn’t just about receiving assets; it’s about understanding the broader economic landscape and how it shapes our financial future. As inheritors, it’s essential to be aware of the current inheritance statistics to make informed decisions and maximize the potential of the wealth passed down to us. https://bit.ly/4cI6VXQ

The Federal Trade Commission’s data on fraud losses is staggering, and AI-based software, tools, and bots have taken fraud to a new level of tailored targeting. But let’s not become overwhelmed and hopeless when it comes to preventing fraud. Despite the sophistication of the scams, many of the same defenses still apply. “…the last line of defense will always be you.” https://bit.ly/3VNwGPf

You may be familiar with the term “AGI” or Adjusted Gross Income. Seemingly straightforward, there are hidden add-ins to your AGI that increase your Modified AGI (MAGI) and impact your eligibility for specific tax benefits or programs.

At The Wealth Conservancy, our experienced financial planning and wealth coaching team assist clients untangle the complex aspects of an inheritance. Please give us a call at 303.444.1919 or submit a consultation request to speak confidentially about your specific circumstances.
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High-functioning depression. What is it? According to NAMI (National Alliance on Mental Illness), it's a term (not a diagnosis) that refers essentially to anyone grappling with mental health issues while accomplishing their day-to-day tasks and upholding their responsibilities. This piece highlights the impacts of inherited wealth on individuals and the associated risk for contributing to high-functioning depression. It is a reminder that individuals struggling with intense feelings of inadequacy, anxiety, and sadness can be privately battling depressive symptoms while appearing to function "perfectly normally." Depression doesn't look the same in everyone.
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Previously, we published a Blog post on the secret benefits of an AARP membership (to be noted, this membership isn’t just for those aged 50+!). Today, we’re going to review a few unique virtual offerings an AARP membership provides for those who may not be quite so “tech savvy.”

Get to Know: AARP Digital Skills Classes and Online Community - The Wealth Conservancy, Inc. Previously, we published a Blog post on the secret benefits of an AARP membership (to be noted, this membership isn’t just for those aged 50+!). Today, we’re going to review a few unique virtual offerings an AARP membership provides for those who may not be quite so “tech savvy.” AARP offers...

As an inheritor, you may not have a profession or earned income by which to define yourself, but you do have the financial resources you’ve inherited. However, as discussed in our Blog series on the troubles that accompany inherited wealth, your inheritance, and the lifestyle it affords can lead to envy, resentment, and negative perceptions from others. For those who have never defined their life by a career, it’s easy to feel left behind or inferior to those who have achieved higher education or career success. However, it’s important to remember that these external markers of success don’t define your worth or value as a person.

When Introducing Yourself, Take the Focus Off Work. - The Wealth Conservancy, Inc. As an inheritor, you may not have a profession or earned income by which to define yourself, but you do have the financial resources you’ve inherited. However, as discussed in our Blog series on the troubles that accompany inherited wealth, your inheritance, and the lifestyle it affords can lead t...

Speaking with attorneys, CPAs, or other professional partners from home has become the new normal for many people, and with it comes the challenge of dealing with background noise during calls. Whether it’s barking dogs, crying babies, or loud hammering right outside your window, background noise can be distracting and make it difficult to communicate effectively with clients or colleagues. Fortunately, there are several ways to block out background noise and improve the quality of your calls.

Put The Focus on You, Not Your Background Noise - The Wealth Conservancy, Inc. Speaking with attorneys, CPAs, or other professional partners from home has become the new normal for many people, and with it comes the challenge of dealing with background noise during calls. Whether it’s barking dogs, crying babies, or loud hammering right outside your window, background noise ...

When it comes to managing your finances, choosing the right type of financial institution to safekeep your money is crucial. Two options you might already be familiar with are banks and credit unions. While these institutions offer similar financial services, there are notable differences between them.

Banks vs. Credit Unions, FDIC vs. NCUSIF: The Ins and Outs of Banking and Account Coverage Limits - The Wealth Conservancy, Inc. When it comes to managing your finances, choosing the right type of financial institution to safekeep your money is crucial. Two options you might already be familiar with are banks and credit unions. While these institutions offer similar financial services, there are notable differences between th...

While AARP has a reputation for being the “over 50s” card, record numbers of financially savvy people under the age of 50 are beginning to recognize the benefits this membership card affords. According to its website, AARP is a nonprofit organization that helps people lead active, independent lives. AARP offers member benefits including auto and home insurance, travel discounts, health advice, and more.

AARP Perks Aren’t Just for 50+ - The Wealth Conservancy, Inc. While AARP has a reputation for being the “over 50s” card, record numbers of financially savvy people under the age of 50 are beginning to recognize the benefits this membership card affords. According to its website, AARP is a nonprofit organization that helps people lead active, independent li...

Tax season is prime time for identity thieves to steal your personal information or claim a refund check on your behalf. Here are a few steps you can take to protect yourself from becoming a victim of identity theft before you submit your taxes.

Security Tip: Protecting Yourself from Identity Theft - The Wealth Conservancy, Inc. Tax season is prime time for identity thieves to steal your personal information or claim a refund check on your behalf. Here are a few steps you can take to protect yourself from becoming a victim of identity theft before you submit your taxes. Secure Your Data Whether you’re filing through a tax...

Rotating back and forth between fiction and nonfiction seems to be a fun balance for me, as does reading materials that bring a new perspective to my commonly held beliefs. This book, Gilded Mountain, by Kate Manning, is a historic novel set in Colorado in the early 1900s. I was drawn to it because I know so little about my state’s history. This book filled in many gaps, which I will get into later.

Book Review: “Gilded Mountain” by Kate Manning - The Wealth Conservancy, Inc. Book review by Myra Salzer Rotating back and forth between fiction and nonfiction seems to be a fun balance for me, as does reading materials that bring a new perspective to my commonly held beliefs. This book, Gilded Mountain, by Kate Manning, is a historic novel set in Colorado in the early 1900s....

When it comes to helping your loved ones plan their estates, or if you are in the process of planning your own estate, consider family history preservation another “asset” to be carefully tended to and distributed down the road. An experienced advisor will help you begin to unlock your family’s history by diagramming your family tree.

Curating & Preserving Your Family’s History - The Wealth Conservancy, Inc. When it comes to helping your loved ones plan their estates, or if you are in the process of planning your own estate, consider family history preservation another “asset” to be carefully tended to and distributed down the road. An experienced advisor will help you begin to unlock your family’...

Loss and isolation aren’t the only burdens borne by inheritors. Today we will briefly touch on guilt.

The Realities of an Inheritance: Guilt - The Wealth Conservancy, Inc. Loss and isolation aren’t the only burdens borne by inheritors. Today we will briefly touch on guilt. It can be hard for an inheritor to stomach the guilt that accompanies never having to worry about having food on their plate or a roof over their head. How do heirs feel as they walk to the [...]

After discussing loss yesterday, today we will cover another heavy anxiety some inheritors come to face: isolation.

The Realities of an Inheritance: Isolation - The Wealth Conservancy, Inc. After discussing loss yesterday, today we will cover another heavy anxiety some inheritors come to face: isolation. Disconnected financial resources (in other words, there is no connection between the source of money and an action by the inheritor) often results in a disconnection of community. More...

Yesterday we covered the topic who and how to trust. Today we will dive into many inheritors’ biggest fear: loss.

The Realities of an Inheritance: Fear of Loss - The Wealth Conservancy, Inc. Yesterday we covered the topic who and how to trust. Today we will dive into many inheritors’ biggest fear: loss. Wealth creators know how to be poor. They know they can survive. They’ve done it before and look at them now! As a result, wealth creators tend to objectively assess risk and act log...

The other day we covered the topic of hostile envy. Today we will navigate learning how to trust as a new inheritor.

The Realities of an Inheritance: Whom to Trust - The Wealth Conservancy, Inc. Yesterday we covered the topic of hostile envy. Today we will navigate learning how to trust as a new inheritor. Wealth creators and those who run successful businesses often get asked for loans, donations, sponsorships, etc. They, however, have honed their discernment skills through experience. As....

The first challenge we will address in our Inheritor’s Blog Series is referred to as “The Mourning Stage.” Similar to the stages of grief, this phase is felt by many new inheritors.

The Realities of an Inheritance: The Mourning Stage - The Wealth Conservancy, Inc. The first challenge we will address in our Inheritor’s Blog Series is referred to as “The Mourning Stage.” Similar to the stages of grief, this phase is felt by many new inheritors. I know, I know! How is it that a new inheritor might experience a mourning stage, rather than a jubilation perio...

While having financial resources may solve many of life’s problems, having too much money results in negative consequences that most don’t even begin to imagine. Over the next several days, this blog will confront some of these challenges:

The Mourning Stage
Hostile Envy
Whom to Trust
Fear of Loss
Isolation
Guilt
Not Getting Respect
Imposter Syndrome

The Realities of an Inheritance (Blog Series) - The Wealth Conservancy, Inc. A Blog Series by Myra Salzer People often imagine how their lives would change if only they inherited $(fill in the blank). While having financial resources may solve many of life’s problems, having too much money results in negative consequences that most don’t even begin to imagine. Over the n...

It’s a question that’s raised time and time again – can money buy happiness? Well, a recent study published in the Proceedings of the National Academy of Sciences has finally decided: Yes… to an extent!

Does Money Really Equal Happiness? - The Wealth Conservancy, Inc. It’s a question that’s raised time and time again – can money buy happiness? Well, a recent study published in the Proceedings of the National Academy of Sciences has finally decided: Yes… to an extent! The study was launched after two anonymous donors contributed a gift of $2 million to TED...

Adrift is my kind of book, and it will probably resonate with inheritors, wealth coaches, philanthropists, and family office personnel as well. Why? Because this book includes graphs that slice and dice American culture, politics, economics, healthcare, etc., etc. Each graph is a chapter in and of itself, clearly and concisely interpreted, accompanied by an explanation, and deftly summed up.

Book Review: “Adrift - America in 100 Charts” by Scott Galloway - The Wealth Conservancy, Inc. Book Review by Myra Salzer Adrift is my kind of book, and it will probably resonate with inheritors, wealth coaches, philanthropists, and family office personnel as well. Why? Because this book includes graphs that slice and dice American culture, politics, economics, healthcare, etc., etc. Each gra...

The burden of inheritance can weigh heavily on those who don’t yet have a wealth coach on their team. At The Wealth Conservancy, our goal is to empower inheritors to take control of their windfall wealth.

3 Mistakes That Inheritors Make | Wealth Preservation Learn about 3 common mistakes that inheritors / heirs of windfall wealth often make, and how you can avoid them to preserve your wealth.

In addition to providing her with the resources to expand her and her husband’s restaurant across the globe (just as her great-grandparents had done), TWC arranged to help Lisa record her story to add even more richness to her family’s legacy. With a clearer understanding of how and why her mother made the decisions she did, Lisa can instill a healthier relationship with her inheritance onto whoever else may carry her family’s legacy.

A Legacy to be Proud Of - Who Knew? - The Wealth Conservancy, Inc. Lisa never had a great relationship with her mother. Her earliest childhood memories were made with nannies and butlers, and while she didn’t know exactly what it was her mother did for work, she did notice that, unlike her friends’ parents, her mother was never around for family dinners or game...

The book was intended for people who want to feel better about themselves and their lives after their years of maximum earning and physical vitality are behind them. While I certainly fall into this category, I found myself resistant to checking the “box” of old age. Dammit! I still have a long life ahead, and I love what I’m doing.

Book Review: "From Strength to Strength: Finding Success, Happiness, and Purpose in the Second Half of Life." By Arthur C. Brooks - The Wealth Conservancy, Inc. Book Review by Myra Salzer This book was recommended to me by a friend and colleague who is older, wiser, and more at peace with his life than I am. The book was intended for people who want to feel better about themselves and their lives after their years of maximum earning and physical vitality ar...

The last day to purchase I-Bonds at the 9.62% rate is October 28th, however you may still lock in a historically high interest rate if purchased thereafter given the most recently reported inflation rate. To purchase I-Bonds, make an account on Treasury Direct, complete the online application, and pay using either a checking or savings account linked to your bank. For more details on opening a Treasury Direct online account, check out this handy PDF guide.

The Windfall of I-Bonds - The Wealth Conservancy, Inc. In August 2022, the year-over-year inflation rate came in at 8.3% – a small move away from the reported 9.1% rate in June, the highest it’s been in more than four decades. Given the current inflationary market cycle, you may be wondering if there are any places left for middle-income investors (...

Just about anyone can call themselves a financial advisor (FA), but a financial advisor must earn the right to call themselves a CERTIFIED FINANCIAL PLANNER™. Read on for an overview of some of the unique designations and affiliations TWC Planners hold, and for more information on how a CFP® Professional differs from a traditional financial advisor.

Understand Our Alphabet Soup of Designations and Memberships - The Wealth Conservancy, Inc. As an inheritor, you may not have complete control and freedom to determine the investment strategy for all of your money, but you do have a say in the type of advisor who manages your money and educates you on your specific financial picture – no matter what your current advisors, trustees, or ex...

Last Wednesday, TWC set out on our annual volunteer day. In the past we’ve typically spent our volunteer day mornings picking crops and preparing plant beds for Earth’s Table. This year, the team got down and dirty with horned and hooved friends at Luvin Arms Animal Sanctuary.

TWC's Annual Volunteer Day 2022 - The Wealth Conservancy, Inc. Last Wednesday, TWC set out on our annual volunteer day. In the past we’ve typically spent our volunteer day mornings picking crops and preparing plant beds for Earth’s Table. This year, the team got down and dirty with horned and hooved friends at Luvin Arms Animal Sanctuary. Luvin Arms is a 50...

With spam calls now declining, we are beginning to see a rise in spam texts, otherwise referred to as “smishing.” Watchdogs with the U.S. PIRG Education Fund report that in the last year alone, the volume of spam texts has increased from 1 billion to nearly 12 billion per month.

How to Avoid “Smishing” in Your Inbox - The Wealth Conservancy, Inc. If you’ve owned a cell phone in the last decade, chances are you’ve received more than a few voicemails or phone calls from an “Unknown” Caller ID asking you if you’re interested in extending your car’s warranty. Although federal law requires carriers to combat robocalls with anti-spam t...