The Tax Cuts and Jobs Act of 2017 created a new way for affluent investors to do well by doing good: Qualified Opportunity Funds (QOFs). These funds, which invest in identified “opportunity zones”—distressed or underprivileged communities that have been targeted for economic development—offer some major tax advantages for suitable investors.
For most of us these days, hardly an hour goes by without interacting in some way with Google, Facebook, or one of the other “Big Data” companies. Their search engines place a world of information at our fingertips, even if we must exercise careful judgment about its accuracy.
During the summer of 2018, I had the privilege of achieving a long-anticipated goal: walking the Camino de Santiago—the Way of Saint James—in Spain. One of the many interesting things about the Camino is that, despite the name, it isn’t really a single road.
It seems as though every time there’s a new headline—whether it comes from Washington, DC, Beijing, London, or somewhere else—the stock market goes through gyrations. Especially these days, with the possible impeachment of President Trump claiming most of the news cycle in the U.S., we see frequent reactions in the financial markets.
What it is and why it matters
Elite wealth planning often plays a key role in the lives of today’s highly successful individuals and families—as well as those who are on the path toward great financial success.