Insights

June 28, 2026 250 YEARS: As we approach our country's 250th birthday, the anniversary of "this bold experiment" and the birth of what became "a republic, if you can keep it" (Benjamin Franklin), I thought I'd share a picture I took in the summer of 2020 when we took advantage of Washington, D.C. with no lines and easy parking. This is the Jefferson Memorial, with an excerpt of the words penned by him, and edited by the rest of the committee (John Adams, Benjamin Franklin, R

June 21, 2026 THE FED MEETS: The Federal Reserve met for the first time under new Chair Kevin Warsh on Wednesday. Interest rates were not changed, and there were no dissenting votes. However, of the 19 voting officials, nine predicted at least one rate increase by the end of the year. None had done that at the last meeting. Stock prices fell on the news. OIL PRICES DROP, GAS BEGINS TO FOLLOW: With news of an actual U.S./Iran peace deal, oil prices moved down decisively,

Modern culture often treats wealth as ownership. What we earn, build, invest, or accumulate is viewed as something fully ours to control. Success is frequently measured by how much someone possesses and how much freedom those resources create.

Financial complexity rarely arrives all at once. In most cases, it builds gradually over time. A new investment account is opened. A property is purchased. An old retirement plan remains in place after a career transition. A trust is created years earlier and rarely revisited. Business interests evolve. Tax documents become thicker each year.

Thoughtful tax planning plays an important role in long-term financial stewardship. It may help preserve wealth, improve efficiency, and create greater flexibility over time. At the same time, focusing too heavily on taxes may create its own challenges, especially when tax considerations begin driving every financial decision.

Some financial challenges are easy to recognize. Seasons of scarcity often demand attention, discipline, and difficult decisions. But seasons of abundance may introduce their own set of risks.

Financial success may create opportunities for future generations. It may also create complexity.

Success is often measured by milestones such as building a business, reaching financial independence, selling a company, or completing a major transaction. These moments are celebrated because they often reflect years of discipline, sacrifice, and perseverance.

Financial complexity rarely arrives all at once. In most cases, it builds quietly over years as life and success evolve. A business may continue growing, investment accounts may expand across multiple platforms, real estate holdings may increase, and compensation structures may become more layered over time. What once felt straightforward may gradually become more difficult to organize, oversee, and coordinate effectively.