Greetings from Mint Hill, North Carolina!
We had a fabulous summer as a family and were also eager to welcome routine with the start of school. With 5 kids in the home (14, 12, 10, 8, and 2), this comes with a daily dose of chaos and noise—so much noise—but we are nonetheless grateful to open this new chapter of life. I hope each of you had an enjoyable summer as well.
I wanted to start this monthly newsletter with a few pertinent updates, followed by a number of articles we think you will find both intriguing and helpful.
I’ll start with the updates.
- Private Equity and Alternative Investments Inside Charles Schwab Accounts: We have seen a recent spate of acquisitions in our industry, including Charles Schwab purchasing TD Ameritrade. When competition is eliminated or consolidated, it unfortunately often results in higher fees, regardless of the industry. We are about to experience a slight increase in fees with Charles Schwab regarding holding private equity/alternative assets inside accounts. Starting this fall, Charles Schwab will charge $150 per holding with a maximum of $300 per year per account. This was negotiated down from $250 and $500, respectively, due to our economies of scale.
- Inflation’s Effects on Life Insurance: Inflation has affected nearly every aspect of financial life over the past few years. As our clients grapple with the effects of higher costs of living, we recommend discussing your current life insurance coverage with your advisor to ensure your family is adequately protected. Many life insurance carriers now offer products that can be implemented without blood or urine labs, which greatly simplifies the process.
Cheers,
Tim Beldner
 | Thinking of Moving out of the U.S.? You May Not Like the Tax Consequences. If you’re contemplating a move out of the U.S., think hard about why you want to go. Those trying to avoid taxes may need another plan. The U.S. is one of the only countries in the world that taxes its citizens no matter where they live. Before you go, consider the implications of any move you make. The first step is learning whether or not a country you want to move to has a treaty that would limit your overall tax bill.
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 | Gen Z and Millennials No Longer Want to Relax on Vacation — Here’s What They’re Looking for Instead A new survey found sharp contrasts between what Gen Z, millennials, Gen X and Baby Boomers want to do when traveling.
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 | How Food Prices Have Changed Over the Past Four Years Grocery prices are no longer rising as rapidly, but food inflation remains a top issue for voters, polls show.
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| A hacking group allegedly leaked 2.7 billion pieces of data.
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| Thinking of Retiring Overseas? 8 Things to Do Before You Pack Your Bags. Financial advisors counsel retirees not to make rash decisions about retiring abroad. There are important investment, tax, and estate-planning considerations.
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 | The Secret to Finding Great Meals While Traveling (Hint: It Doesn’t Involve the Internet) Far too often, when on the road, we start googling as soon as mealtime approaches. As these seasoned travelers and enthusiastic eaters show, sniffing out dinner the old-fashioned way with these tips can reap greater rewards.
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| How Will Self-Driving Cars Learn to Make Life-and-Death Choices? Carmakers are grappling with the dilemmas artificial intelligence will face on the road.
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