Episode 173: Leaving A Lasting Legacy, Big Houses, Skipping College, & Unmotivated Children

Join Jonathan I. Shenkman, President and Chief Investment Officer of ParkBridge Wealth Management, this week as he discusses a variety of timely investing and financial planning topics, including:

1. Talking points: What Jewish Tradition Teaches About Leaving a Lasting Legacy

2. This week’s quote is from Harvey Firestone on big houses.

3. I planned to spend a few years learning in Israel and then a year in kollel, with financial support from my father and father in law. They both backed out. What should I do now.

4. A money manager from my shul is soliciting me, claiming his returns far exceed those of my current advisor and pressuring me to switch. How should I evaluate this.

5. A prospective advisor suggested keeping my home purchase funds invested and borrowing against the portfolio instead. Is that a smart strategy.

6. My son skipped college, spent time in Israel, and now sells appliances. He earned six figures last year and bought a car with cash. He could get into college but has no interest. Should we push him toward a degree or support his current path.

7. I am financially successful. What key financial planning and investment considerations should someone with significant wealth prioritize.

8. My colleagues mentioned NUA in relation to company stock in a 401(k). What is NUA and when does it make sense.

9. My adult son is unmotivated, disengaged, and has no career direction. I want him off my payroll and am considering suggesting a job at the DMV. What other roles fit someone with his temperament.

10. I am a newer financial advisor, and many friends with salaried jobs are condescending when I market my business. They do not understand what it takes to build a practice, and it is discouraging. How do I handle this dynamic.

11. I am looking for an affordable home in a New York area suburb that feels friendly, inclusive, and somewhat out of town. How can I identify communities like that.

12. Timely & Actionable Idea: tax traps to avoid, in particular missing out on your cheapest tax years to do Roth IRA conversions.

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