Leveraging Volatility: When Life Gives You Lemons…

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By: HB Wealth Planning Team

As the threat of a tariff-induced trade war, inflationary pressures, and domestic legislative and geopolitical uncertainties continue to fuel volatility, the emotional response might be to hunker down and take a wait-and-see approach. While certainly prudent, challenging times also present volatility-induced opportunities to leverage these forces to benefit tax and estate planning strategies. Consider the following:

Income Tax Planning

  • Employer Stock Options: Temporary market declines present distinctive opportunities for vested but unexercised non-qualified (NQSO) or incentive stock options (ISO). Compensatory stock options are taxed as ordinary income on the appreciation above the grant price at the point of exercise. Exercise while underlying stock values are temporarily lower can potentially convert the taxation of post-exercise stock appreciation into long-term capital gain when stock is sold (if held > 1 year before sale). Also, through 2025, ISO exercise may be sheltered from the Alternative Minimum Tax (AMT), as current law provides significantly higher exemptions and phaseouts.
  • Explore Roth IRA Conversions: Converting traditional IRAs to Roth when portfolio values are low may result in a lower overall income tax liability, as the growth associated with a market recovery and all subsequent appreciation accrues and is distributed tax-free during retirement.
  • Tax Loss Harvesting: While proactive tax loss harvesting should be a strategic and regular part of prudent portfolio management, market dislocations and downside volatility present distinctive opportunities to replace or rebalance portfolio holdings and enhance your overall after-tax returns.
  • Cryptocurrencies: Unlike securities, directly owned cryptocurrencies are not subject to the IRS wash-sale rule. Accordingly, crypto can be simultaneously sold and repurchased, thereby harvesting losses while always maintaining the desired economic exposure.
  • Qualified Opportunity Zone Deferrals: Capital gains realized through partnership or other pass-through entities in 2024 may still be eligible to reinvest in Qualified Opportunity Zone assets through early September 2025. While under current law, Qualified Opportunity Zone deferrals will sunset on December 31, 2026, it is rumored that the deferral period may be extended under the 2025 Tax Legislation.  

Estate Planning

  • Lifetime Gifts to Family: Gifting marketable securities at depressed valuations may further enhance the transfer tax planning opportunities under already generous federal estate, gift, and generation skipping transfer tax exemptions. For larger gifts, always consider utilizing trusts that can provide multi-generational estate, asset protection, governance, and even state tax planning benefits.
  • Intrafamily Loans: Inflation is lingering, and interest rates may again be on the rise. Now may be an ideal time to review and refine the terms on existing loans to family members. While rates are fluctuating, assessing opportunities for recently structured or soon-to-expire loans may be timely.
  • Grantor Retained Annuity Trusts (GRATs): Funding a new GRAT with temporarily mispriced securities, poised to rebound, can shift significant wealth to a family with little or no gift tax.
  • Asset Substitutions: Existing GRATs, whether under-performing or successful, should be reviewed to determine if substituting lower volatility assets of equal value should be used to either reset unsuccessful trusts or lock-in the wealth transfer benefits of fruitful planning.  
  • Late Generation Skipping Transfer Tax (GSTT) Exemption Allocations: Prior year gifts to partially or non-GSTT exempt trusts may benefit from late allocations at lower trust asset values.

As with any tax strategy, before considering these or other tactical planning opportunities, consult with your advisors to carefully consider the impact any actions may have on your overall investment, wealth, and income tax planning goals. With 2025 shaping up to be a volatile year, creatively embracing and leveraging volatility to optimize tax planning may just make lemonade from the recent market’s lemons!

Written and edited by HB Wealth Planning with significant contributions by Director of Financial Planning, Isaac J. Bradley, J.D., CPA, CFP®, and Director of Advanced Tax Planning & Family Office Services, Timothy M. Tallach, J.D., CPA.

To learn more or get help with your tax strategy, please visit us at homrichberg.com, send an email to info@homrichberg.com, or call 404.264.1400.

Download this article.

Important Disclosures

This article may not be copied, reproduced, or distributed without Homrich Berg’s prior written consent.

All information is as of date above unless otherwise disclosed.  The information is provided for informational purposes only and should not be considered a recommendation to purchase or sell any financial instrument, product or service sponsored by Homrich Berg or its affiliates or agents. The information does not represent legal, tax, accounting, or investment advice; recipients should consult their respective advisors regarding such matters. This material may not be suitable for all investors. Neither Homrich Berg, nor any affiliates, make any representation or warranty as to the accuracy or merit of this analysis for individual use. Information contained herein has been obtained from sources believed to be reliable but are not guaranteed. Investors are advised to consult with their investment professional about their specific financial needs and goals before making any investment decision.

This material does not constitute an offer, solicitation or recommendation to sell or purchase any security.

©2025 Homrich Berg.

Living Your Best Happily Ever After: Five Key Steps to a Fresh Start After Divorce

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Divorce marks the end of one chapter, and the beginning of another. Whether the decision was yours or not, the stretch of uncertainty is behind you, and the path ahead is yours to shape. This new chapter may bring changes big and small: a different hairstyle, a new home, new career goals, or even a new relationship; but, one thing is certain: your life is now different, and setting a strong foundation for that new life is essential.

The following are five key steps to help you establish your footing and move your new life forward with confidence and clarity.

Finding the Right Financial Advisor

        Financial stability is one of the most important pillars of your fresh start. Divorce often brings a completely new financial landscape; one that can feel unfamiliar and overwhelming. This is where the right financial advisor can make all the difference.

        Seek out an advisor who has experience guiding individuals through the post-divorce transition. They can help you:

        • Create a realistic budget for your new household.
        • Adjust to a single income and plan for taxes.
        • Navigate alimony, child support, and investment accounts.
        • Set goals for retirement, home purchases, and/or education funding.
        • Revisit and appropriately revise your estate plan.

        Importantly, not all advisors are created equal. Look for someone who is a true fiduciary—an advisor legally and ethically obligated to act in your best interest, with no hidden agendas. Transparent fees and a client-centered approach are essential. Ideally, your advisor will also have access to a team of specialists, offering both investment management and comprehensive financial planning services.

        Updating Estate Plans

          Even if your divorce decree is finalized, your estate plan might still reflect your married life. In many states (like Georgia), divorce automatically revokes a former spouse’s rights under your will or trust…but not always. Even when it does, other documents, like beneficiary designations, may still need your attention.

          Work with an estate planning attorney to:

          • Remove your former spouse as a beneficiary and in legal roles they were previously named to fulfill. If, despite the divorce, you still want your ex to benefit from your estate or administer your estate as executor or trustee, you may need to specifically describe this in your documents after the divorce to ensure that local law will permit this.
          • Draft new wills and trusts that reflect your wishes and protect your privacy.
          • Update powers of attorney and healthcare directives so that the right, trusted individuals may act to carry on your financial life for your benefit and make health care decisions for you in the event you are not able to make such decisions for yourself during your lifetime.
          • Review and revise all beneficiary designations on retirement accounts, life insurance, and payable-on-death or transfer-on-death accounts. These designations may override your will and can lead to unintended consequences if not updated.

          Reviewing Insurance Coverage

            Your insurance needs may look very different now. Take time to reassess your coverage to make sure you’re protected in this new phase of life:

            • Health Insurance: If you were covered under your ex’s plan, you may need to secure new coverage through COBRA, employer coverage, or a marketplace plan.
            • Life Insurance: You may need to change beneficiaries or secure new coverage, particularly if alimony or child support are involved.
            • Disability Insurance: Income protection becomes even more critical if you’re solely responsible for your household finances.
            • Long Term Care Insurance: Planning for your future care needs ensures that you remain financially secure and self-sufficient.

            Establishing a Strong Credit and Banking Foundation

              Starting fresh often means taking steps to fully separate and establish your financial independence:

              • Open new bank accounts in your name alone.
              • Apply for your own credit cards and make consistent, on-time payments.
              • Regularly monitor your credit reports to confirm that joint accounts have been closed and there are no lingering financial ties to your former spouse.

              These steps can empower you to take control of your financial life and build (or rebuild) a strong credit profile.

              Prioritizing Emotional and Professional Support

                Divorce doesn’t just affect your finances; it touches every part of your life. As you move forward, make space for healing and personal growth.

                • Consider working with a therapist or divorce coach to process your emotions and gain clarity.
                • Join support groups that provide connection, community, and perspective.
                • Explore professional coaching or career counseling if you are returning to the workforce or pursuing a new path.

                Taking care of your emotional well-being is not only healing; it is essential to your long-term success.

                Final Thoughts

                You have weathered a major life transition. Now it’s time to build something beautiful for yourself on your own terms; to ensure that you are not just surviving, but you are thriving. With the right financial guidance, legal planning, insurance protection, and emotional support, you may create a life that feels both stable and full of promise. You do not have to do it all at once, and you definitely do not have to do it alone. Your “happily ever after” is still yours to write, and it starts with these first few steps.

                If you have any questions or would like to discuss this further, please reach out to your client service team, call us at 404.264.1400, or visit us on the web at HomrichBerg.com.

                Download this article.

                Important Disclosures

                This article may not be copied, reproduced, or distributed without Homrich Berg’s prior written consent.

                All information is as of the date above unless otherwise disclosed. The information is provided for informational purposes only and should not be considered a recommendation to purchase or sell any financial instrument, product, or service sponsored by Homrich Berg or its affiliates or agents. The information does not represent legal, tax, accounting, or investment advice; recipients should consult their respective advisors regarding such matters. This material may not be suitable for all investors. Neither Homrich Berg, nor any affiliates, make any representation or warranty as to the accuracy or merit of this analysis for individual use. Information contained herein has been obtained from sources believed to be reliable but are not guaranteed. Investors are advised to consult with their investment professional about their specific financial needs and goals before making any investment decision.

                ©2025 Homrich Berg.

                What Is A Family Office?

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                As a wealthy family, the question of whether to have a “family office” will inevitably arise, whether from wealthy friends, advisors, articles about other wealthy families, networking groups, or all the above. You will also likely hear differing opinions about whether to establish a single-family office, utilize a multi-family office, or possibly explore ‘hybrid’ solutions somewhere in between. To help families best understand their options, over the coming weeks, we will be sharing our experiences in a series of short, practical segments outlining key considerations. Let’s start with the basics: What is a family office?

                The Definition

                Defining a family office can be approached in various ways, often resulting in an extensive list of services provided. We define a family office as a coordinated team of staff and advisors dedicated to managing the financial affairs of a complex or multi-generational wealthy family. As we will discuss in a future blog, this can be a dedicated staff working only for the family (a Single-Family Office or SFO), or it can be a group of professionals who work for more than one family (a Multi-Family Office or MFO).

                Family Offices Are Not New

                The idea of having a family office is not a recent concept. Some form of a “family office” likely existed back as early as the days of the Renaissance, where successful families, such as the Medici, surrounded themselves with advisors to help manage their family affairs across a wide range of business and philanthropic pursuits. The more recent American version of the family office concept emerged with the wealthy families of the late 1800s and 1900s when families like the Carnegies, Rockefellers, and Vanderbilts amassed great wealth that required a dedicated staff to help them manage their affairs across businesses, charitable giving, and multiple generations. 

                A circle divided in half; the left side is tan with one family icon, the right side is burgundy with four family icons, representing a comparison or difference in family numbers.

                Family Offices are Growing and Evolving

                The creation of family offices and their scope has increased and widened over the past 50 years, as a wider set of families created wealth after World War II. Historically, the primary focus of a family office has always been financial – managing family investments, handling taxes, planning for future wealth transfer, coordinating philanthropy, and ensuring these matters are handled across generations. Over time the mandate of a family office has often broadened to incorporate more multi-generational efforts such as financial education, family governance, concierge lifestyle services, health and wellness, and other aspects of family life.

                What Services Does a Family Office Provide?

                As described above, the family office is focused primarily on managing and coordinating the “Financial Life” of the family across generations. This generally includes wealth forecasting, investment management, estate planning, charitable and tax planning, risk management, family education/governance, and concierge services.

                Wealth forecasting involves long-term cash flow modeling applying various assumptions to project the implications of family planning decisions, investment allocations, and risk scenarios. The wealth forecast discussion serves as the foundation for numerous planning topics and offers families a continuous resource (i.e., a planning benchmark) to evaluate the near- and long-term impact of their decisions.

                Investment management is often assumed to be the primary role of a family office, but in reality, it may or may not be the top priority each day. This includes setting an appropriate asset allocation for each family entity or family member, choosing the investment advisors or asset managers to implement the strategy, and providing consolidated reporting across all investment assets to the family.  The last part (reporting) is often a major task for some family offices, given the complex web of investment relationships and ownership structures families have built over time. Investment management also includes managing the inflows and outflows administratively for each investment, including handling capital calls, paperwork and other cash flow needs of the family.

                A circular diagram titled Generational Family Financial Life with eight surrounding segments: Wealth Forecasting, Investment Management, Estate & Succession Planning, Charitable Planning, Tax Planning, Risk Management, Family Governance & Education, and Concierge Services.

                Estate and succession planning involves working with the family to define their planning goals and help determine which tools and strategies will best help them achieve those goals. This often involves coordination across multiple tax, legal, and business specialists, and may involve utilizing both outside and in-house counsel for legal drafting and implementation. With constantly changing estate and business laws, families need to regularly revisit and update their plans, even if they believe their previous planning was thorough.

                Charitable planning incorporates a wide range of options for philanthropic family efforts. This may include determining the right structure for giving directly or creating a pool of future charitable capital, deciding how to best optimize the tax benefits of potential gifts, or simply deciding how to prioritize what types of gifts to make and how to negotiate those gifts if they are significant.

                Tax planning interacts with all facets of the family office work, as almost every decision made has potential tax implications now or in the future. Tax planning may include in-house preparation of tax returns or may involve the use of an outside CPA. Both approaches involve managing the yearly schedule and processes of tax compliance and strategically planning to reduce taxes over time.

                Risk management addresses personal and property risks to protect the family based on their specific situation and assets. This can be as simple as ensuring appropriate and efficient property and casualty coverages across family holdings, or as complex as designing and maintaining sophisticated multi-family business buy-sell or wealth transfer life insurance agreements. Risk management has recently evolved to also include engaging specialty cybersecurity or even personal security firms to help address unique risks faced by the family.

                Family governance and family education are broad and highly personal topics that will mean different things for different families. In some instances, this may address family business succession matters and managing a family business over multiple generations.  In other cases, it may be focused on when to start sharing financial information with the next generation and how to ensure that they are informed financial stewards of that future wealth.

                Concierge services can be as high level as recommending a good bookkeeper or travel advisor, or as granular as actually paying the family bills and booking their vacations!  Concierge services are unique to each family’s needs, and some families seek to outsource more of these services to their family office than others.

                What About Actual Tax and Legal Work?

                As noted above, some family offices manage tax compliance (filing returns), entity accounting, and legal document preparation (estate, entity, etc.) via full-time employees who are attorneys and CPAs. This is an area typically included within the scope of the largest single-family offices. However, many family offices, even those structured as single-family offices, often outsource some or all of this function rather than managing it in-house.

                What About Managing Houses and People and Paying the Bills?

                Some people believe that if you are not managing the houses (or house staff), airplanes (or pilots), paying the bills, or managing other day-to-day events, then you are not truly operating a family office. This is truly a gray area and unique to each family. While some family offices transition from a CFO (or financially focused) role into a COO (or operations-focused) role, others do not. As the cliché goes, if you have seen one family office then you have seen….one family office.

                The Bottom Line—A Family Office Ultimately Has to Fit Your Needs

                Back to that cliché about every family office being unique – it really is true that the definition of a family office is what you want it to be. There is no formal certification to define what cluster of services qualifies as a “real family office.” The determination of what operational, professional, and personal services should be provided by your family office is ultimately up to you.

                To learn more about a family office, please visit us at https://homrichberg.com/resources/understanding-family-offices/, send an email to info@homrichberg.com, or call 404.264.1400.

                Download this article.

                Important Disclosures

                This article may not be copied, reproduced, or distributed without Homrich Berg’s prior written consent.

                All information is as of the date above unless otherwise disclosed. The information is provided for informational purposes only and should not be considered a recommendation to purchase or sell any financial instrument, product, or service sponsored by Homrich Berg or its affiliates or agents. The information does not represent legal, tax, accounting, or investment advice; recipients should consult their respective advisors regarding such matters. This material may not be suitable for all investors. Neither Homrich Berg nor any affiliates make any representation or warranty as to the accuracy or merit of this analysis for individual use. Information contained herein has been obtained from sources believed to be reliable but are not guaranteed. Investors are advised to consult with their investment professional about their specific financial needs and goals before making any investment decision.

                ©2025 Homrich Berg.

                Financial Spring Cleaning: Tidy Up and Take Control

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                As flowers bloom and warmer weather rolls in, many of us turn our attention to spring cleaning—clearing out the yard, organizing closets, and opening windows to let in fresh air. But what about your financial life? Spring is the perfect time to tidy up more than just your home.

                If you’ve already filed your taxes—or are just about to—consider this your cue to do a little financial housekeeping. Here’s a simple checklist to help you get organized, refocus on your goals, and make sure you’re on the right track for the rest of the year.

                Your Spring Financial Cleaning Checklist:

                • Archive Your Tax Documents
                  Gather all tax return materials, scan important records, save digital copies to a secure drive, and file paper versions in a clearly labeled envelope or box. Store them with prior years’ records for easy access.
                • Declutter Paperwork
                  Sort lingering documents into two piles: Scan and Shred. Then digitize what you need to keep and securely dispose of the rest.

                Homrich Berg clients: Our Buckhead annual shred day is coming up—keep an eye on your email or reach out to your advisor for event details. We will also have an Alpharetta shred day later in the year.

                • Reconcile Accounts
                  If you’ve fallen behind on tracking your bank or credit card transactions, now is a good time to catch up.
                • Update Your Net Worth Statement
                  Whether you’re using a spreadsheet, Quicken, or Mint, take a moment to make sure your information is current. Add new assets or liabilities, and remove outdated ones.
                • Review Your Progress
                  Is your net worth trending in the right direction? If you track this each year, are you happy with your trajectory? If not, what changes can you make to get back on course?
                • Evaluate Debt and Savings Strategy
                  • Do you have a plan in place to reduce liabilities?
                  • Are you consistently saving at least 10% toward long-term goals (your “freedom fund for the future”) and 10% toward short-term security (your “freedom fund for today”)?

                Spring is a natural time to pause, reflect, and refresh. While “financial cleaning” may not be as satisfying as scrubbing a floor, it can bring peace of mind and renewed motivation for the year ahead. Take this opportunity to realign with your goals—and celebrate the progress you’ve already made.

                It may also be a good time to review all your insurance. For a refresher on who needs what and how much, join my free Financial Foundations webinar, Insurance Basics, on April 22nd at 12:00 p.m. EST. Click here for more information and to register.

                To learn more or get help planning your financial goals, please email me at gildea@homrichberg.com.

                Download this article.

                Important Disclosures

                This article may not be copied, reproduced, or distributed without Homrich Berg’s prior written consent.

                All information is as of date above unless otherwise disclosed.  The information is provided for informational purposes only and should not be considered a recommendation to purchase or sell any financial instrument, product or service sponsored by Homrich Berg or its affiliates or agents. The information does not represent legal, tax, accounting, or investment advice; recipients should consult their respective advisors regarding such matters. This material may not be suitable for all investors. Neither Homrich Berg, nor any affiliates, make any representation or warranty as to the accuracy or merit of this analysis for individual use. Information contained herein has been obtained from sources believed to be reliable but are not guaranteed. Investors are advised to consult with their investment professional about their specific financial needs and goals before making any investment decision.

                ©2025 Homrich Berg.

                What’s Next For The C-Suite Leader-Leaving a Lasting Legacy

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                “You don’t retire from being a leader—you evolve into a different kind of one.”

                For many C-Suite leaders, the company isn’t just a job or an asset—it’s a reflection of who they are. It’s the product of years of risk-taking, long nights, and personal sacrifice.

                So, what happens when it’s time to step back?

                Succession plans may transition the company to the next generation of leaders, but they don’t address the real emotional challenge: How do you transition from your role as CEO or C-Suite Executive without losing your sense of identity?

                We believe that the most successful leaders don’t let go of their purpose; they redefine it. Here’s how.

                From the C-Suite to Legacy Leader: A New Chapter in Leadership

                Stepping away from the daily operations of a business doesn’t mean stepping away from leadership. In fact, the most respected business founders become advisors, mentors, and legacy-builders long after they hand over the reins.

                What does a legacy leader role look like?

                • Providing guidance without micromanaging
                • Acting as a stabilizing force in times of change
                • Using wisdom and networks to open doors for the next generation

                Example: After leading PepsiCo for over a decade, Indra Nooyi transitioned into an advisory role, mentoring young leaders and advising on the company’s strategic vision. She also wrote “My Life in Full,” sharing her leadership journey to inspire the next generation.

                Your move: Consider what role excites you in this next chapter—advisor, mentor, board member, or even a thought leader in your industry.

                Separating Business from Self-Worth: You Are More Than Your Company

                For decades, your title, decisions, and successes have been central to your identity. So, when that structure shifts, it can feel unsettling.

                Many business owners struggle with questions like:

                • “Without my company, who am I?”
                • “Where will I find purpose outside of work?”
                • “How do I stay relevant in my industry?”

                Reframing Your Purpose

                • Look at Your Legacy Holistically: Your impact is bigger than the business—it’s the relationships you’ve built, the people you’ve mentored, and the values you’ve instilled.
                • Find New Challenges: Many entrepreneurs find fulfillment in philanthropy, angel investing, or coaching future leaders.
                • Revisit Personal Passions: Hobbies, travel, and creative pursuits often take a backseat during years of intense business-building. This is the time to rediscover them.

                Example: Some founders transition into teaching, serving on nonprofit boards, or writing books to share their insights. Their influence grows beyond the business itself.

                Your move: Make a list of five things you’ve always wanted to do but never had time for. Now’s your chance.

                The Role of Mentorship: Staying Engaged Without Holding on Too Tightly

                One of the biggest challenges in succession planning isn’t the logistics—it’s the leader’s ability to step back without hovering.

                It’s a delicate balance:

                Too involved → The successor feels micromanaged and lacks confidence.
                Too absent → The team loses institutional knowledge and wisdom.

                How to Mentor Without Managing

                • Set clear boundaries—offer advice but let them make decisions.
                • Be a sounding board, not a problem-solver.
                • Trust that mistakes are part of leadership growth—you made them too.

                Example: Some executives create structured mentorship roles where they meet with successors periodically instead of staying involved in daily operations. This allows for continuity without overreach.

                Your move: Ask yourself—what kind of mentor do you want to be? The guide in the background or the coach on the sidelines? Define your new leadership role intentionally.

                Final Thought: The Best Leaders Leave a Legacy

                Your legacy-oriented leaders, their role as an executive was never just about business success, it was about creating something lasting.

                Ask yourself:

                • What impact do I want to have beyond the company?
                • How can I share my wisdom in a way that outlives my tenure?
                • Who do I want to help grow into the next great leader?

                True leadership doesn’t end when you step back, it evolves into something even more meaningful.

                Because a legacy isn’t just what you leave behind; it’s what you set in motion.

                To learn more or get help with your life experiences, please call 404.264.1400 or email us at info@homrichberg.com.

                Download this article.

                Important Disclosures

                This article may not be copied, reproduced, or distributed without Homrich Berg’s prior written consent.

                All information is as of date above unless otherwise disclosed.  The information is provided for informational purposes only and should not be considered a recommendation to purchase or sell any financial instrument, product or service sponsored by Homrich Berg or its affiliates or agents. The information does not represent legal, tax, accounting, or investment advice; recipients should consult their respective advisors regarding such matters. This material may not be suitable for all investors. Neither Homrich Berg, nor any affiliates, make any representation or warranty as to the accuracy or merit of this analysis for individual use. Information contained herein has been obtained from sources believed to be reliable but are not guaranteed. Investors are advised to consult with their investment professional about their specific financial needs and goals before making any investment decision.

                ©2025 Homrich Berg.

                New Year Resolution #3: Balancing Children and Aging Parents as a Single Parent in the Sandwich Generation

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                Navigating life as a single parent can be a significant challenge on its own, but when combined with the responsibilities of caring for aging parents, it can feel overwhelming. The “sandwich generation”—those simultaneously supporting both their children and their parents—often find themselves stretched thin both financially and emotionally. Here are practical tips to help single parents in this situation manage their roles effectively while maintaining their well-being.

                Create a Realistic Plan and Protect Your Financial Future

                  Start by evaluating your time, finances, and energy. Draft a plan that prioritizes essential tasks for both your children and parents.

                  • Time Management: Use digital tools like shared calendars to track school events, medical appointments, and caregiving tasks. Burnout is a real risk for sandwich generation caregivers. Build in time for self-care, whether that be a 15-minute walk for fresh air, a yoga class, or even a bubble bath after the children have gone to bed. One client told me that she maintained her sanity by journaling to manage stress. Another told me that weekly conversations with her college roommate, who is now living across the country, provided an opportunity to put her mind in a different place for just a few minutes.
                  • Financial Planning: Develop a spending plan that includes childcare, eldercare, and emergency funds. During annual reviews with clients, we evaluate the prior year’s spending as we set goals for the upcoming year.  It is important to set aside funds for your retirement so that you are not a burden to your children in your later years. Assess your insurance policies and work with your parents to create or update important documents, including wills, powers of attorney, and medical directives.

                  Build a Support Network

                    No one should carry these responsibilities alone. Reach out for help and build a support system. You are likely surrounded by friends, neighbors, and co-workers navigating similar struggles and challenges.

                    • Family and Friends: Delegate tasks such as transportation for children or errands for parents. Sharing the load (whether physically or financially) with siblings can make it a bit less stressful. Develop a policy of open and honest communication to set boundaries and manage expectations. If possible, find ways to include your parents in decisions about their care.
                    • Community Resources: Explore local programs that offer respite care, meal delivery, or support groups for caregivers. In addition to offering a safe space to discuss challenges you are facing, a local non-profit may offer educational programs around dementia or resources to help you navigate feelings of sadness, etc.
                    • Professional Help: Research in-home care options and/or the services of a counselor or life coach to help you navigate this uncertain new reality. Skilled care may be covered by Medicare. AARP, Adult Children of Aging Parents, and the Family Caregiver Alliance are a few resources to consult.

                    Encourage Independence

                      Fostering independence in both children and parents can alleviate some pressure. It may help to teach age-appropriate tasks to children, like doing the laundry or preparing simple meals. Your aging parents may be able to stay self-sufficient by setting up automated bill payments, organizing their medications, or exploring senior-friendly technologies.

                      Conclusion

                      By implementing these strategies, single parents in the sandwich generation will be better equipped to manage their dual caregiving roles. Seeking help and planning ahead are signs of strength and can be empowering. It is equally important to realize that situations can change rapidly, so be ready to change course and adapt. This may require adjusting plans, reorganizing schedules, reallocating resources, and shifting priorities. At the end of each day, remind yourself that balancing these responsibilities is no small feat, but you have the right tools and support, and you can not only survive…YOU CAN THRIVE!

                      To learn more or get help with your finances, please visit us at homrichberg.com, send an email to info@homrichberg.com, or call 404.264.1400.

                      Download this article.

                      Important Disclosures

                      This article may not be copied, reproduced, or distributed without Homrich Berg’s prior written consent.

                      All information is as of the date above unless otherwise disclosed. The information is provided for informational purposes only and should not be considered a recommendation to purchase or sell any financial instrument, product, or service sponsored by Homrich Berg or its affiliates or agents. The information does not represent legal, tax, accounting, or investment advice; recipients should consult their respective advisors regarding such matters. This material may not be suitable for all investors. Neither Homrich Berg nor any affiliates make any representation or warranty as to the accuracy or merit of this analysis for individual use. Information contained herein has been obtained from sources believed to be reliable but are not guaranteed. Investors are advised to consult with their investment professional about their specific financial needs and goals before making any investment decision.

                      ©2025 Homrich Berg.

                      Why Comparing Yourself Financially Doesn’t Add Up

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                      I hear it all the time: “I know I’m behind in my savings,” or “I’m not where I should be financially.” Sound familiar? These feelings of comparison are incredibly common, fueled by societal norms and social media, which amplify the idea that there’s an invisible scoreboard tracking our lives.

                      It’s not just about finances, either. From career milestones to lifestyle achievements, we are bombarded with messages that others are smarter, richer, or living more fulfilling lives. This constant comparison can leave us feeling like we’re falling short in some way. Personally, I’ve felt it too—and in a business focused on managing wealth, it’s easy to feel inadequate.

                      The Trap of Comparison

                      Sure, some people do have significant wealth, whether through frugality, smart investments, or fortunate circumstances like stock options or inheritance. Yet, the reality of their lives often includes challenges we don’t see. Social media tends to highlight only the glamorous snippets, leaving us with an incomplete—and often idealized—view of their situations.

                      My mom used to tell me: “Quit looking up the street at everything others have; look down the street and see how little others have.” That’s wise advice, but perhaps an even better approach is to stop looking at the street entirely. Instead, focus inward, finding contentment in where you are while striving for your own goals.

                      Why Your Journey is Unique

                      Here’s the truth: You are where you are—uniquely. No one else on the planet has faced your challenges, seized your opportunities, or overcome your struggles. So how can you possibly compare yourself to someone else? Your financial journey is yours alone, and there is no “behind” or “ahead”—there’s only your path.

                      Practical Steps to Shift Your Perspective

                      Instead of dwelling on what others have, take these actionable steps to reframe your mindset and focus on your own growth:

                      • Take Stock of Your Finances: Write down your assets and liabilities to calculate your net worth. Date it and set a reminder to update it in 2–3 months. Progress starts with knowing where you stand.
                      • Practice Gratitude: Look at all you’ve accumulated—your home, investments, or even sentimental belongings. Gratitude opens your mind to abundance, while comparison and jealousy close you off.
                      • Reflect on Your Growth: Think about your situation 5 or 10 years ago. What lessons have you learned? If your financial situation hasn’t improved, use that as a cue to take action.
                      • Set Small, Actionable Goals: Focus on one small change you’d like to make. Write it down, break it into steps, and take the first step today. Momentum builds with small, consistent efforts.
                      • Focus on Positive Actions: Instead of obsessing over outcomes, celebrate the small wins. Results take time, but every positive action moves you closer to your goals.
                      • Reframe Negative Language: Track the words you use about money for a day. Replace any negative comments with more positive and abundant language. For example, instead of saying, “I’ll never save enough,” try, “I’m creating a plan to build my savings.”
                      • Embrace Your Hero’s Journey: Setbacks and mistakes are part of the process. View them as lessons rather than failures, and adjust your actions accordingly.

                      Celebrate Your Progress

                      Your journey is uniquely yours, and there’s no race or finish line. Take a moment to bask in how far you’ve come and dream about where you want to go. Even during tough times, there’s always something to be grateful for and a small step you can take toward your ideal future.

                      As Nelson Mandela once said, “I either win or I learn.” Every action that moves you forward is a win. Celebrate it and remember: the only person you need to compare yourself to is the version of you from yesterday.

                      To learn more or get help planning your financial goals, please email me at gildea@homrichberg.com.

                      Download this article.

                      Important Disclosures

                      This article may not be copied, reproduced, or distributed without Homrich Berg’s prior written consent.

                      All information is as of date above unless otherwise disclosed.  The information is provided for informational purposes only and should not be considered a recommendation to purchase or sell any financial instrument, product or service sponsored by Homrich Berg or its affiliates or agents. The information does not represent legal, tax, accounting, or investment advice; recipients should consult their respective advisors regarding such matters. This material may not be suitable for all investors. Neither Homrich Berg, nor any affiliates, make any representation or warranty as to the accuracy or merit of this analysis for individual use. Information contained herein has been obtained from sources believed to be reliable but are not guaranteed. Investors are advised to consult with their investment professional about their specific financial needs and goals before making any investment decision.

                      ©2025 Homrich Berg.

                      HB Economic & Investment Outlook – Q1 2025

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                      In this video, Principal Ross Bramwell gives our current commentary on the markets and the economy. Here are some key economic and investment themes that are covered:

                      • Markets are waiting for clarity on tariff policy; uncertainty is the market’s enemy
                      • Markets are more worried about a slowdown in growth due to tariffs than inflation
                      • The Fed will stay paused on rate cuts given the economic backdrop
                      • Consumers remain resilient due to the labor market despite cautionary reports
                      • A lot of good news was priced into stocks; broadening of earnings needs to continue
                      • Geopolitical risks have declined, but are replaced by economic trade wars
                      • Overall positioning – We see lower recession risk but monitoring elevated valuations and potential tariff impact on economic growth

                      Watch here: https://www.youtube.com/watch?v=xCZsrtO3Htc

                      New Year Resolution #2: Creating An Estate Plan

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                      Several of my newly single ladies have asked, “What will happen to my children if I die tomorrow?” The concern is real…for the young widow, deciding on a guardian can feel overwhelming. For others, the wonder may revolve around finances, “Are my children old enough to make sound financial decisions?” Others are eager to finally feel the reins of control in their hands as they deliberate between various charities that might not have been a priority for their spouse. Regardless of the situation, estate planning is important for everyone, but it takes on even greater significance for single parents. Your primary goal should be to ensure that your children are cared for both financially and emotionally, despite not knowing what the future holds. By taking proactive steps, you can provide peace of mind and security for yourself and your family. Below are a few items to help you get started:

                      Name a Guardian for Your Children

                      Perhaps the most important aspect of estate planning for single parents is designating a guardian for your minor children. This person will step in to care for them if you cannot. It is critically important to discuss your decision with the chosen individual to confirm that they are both willing and prepared to take on this responsibility. It is common to stipulate instructions regarding your desires for their care and upbringing.

                        Create a Will and Update Beneficiary Designations

                        Your will is the foundation of your estate plan. This legal document not only names a guardian for your children but also outlines how certain assets will be distributed. Without a will, the court would make decisions on your behalf, which may not align with your wishes. One important caveat is that retirement assets and life insurance policies pass via beneficiary designation as opposed to under the instructions in a will. Thus, it is critical to review these as life evolves and your circumstances change. Since these designations override your will, it is essential to ensure that they reflect your current wishes. How uncomfortable would it be to find out after remarrying that an ex-spouse was still named as the beneficiary of a large retirement plan?

                        Consider Whether a Trust is Appropriate

                        In some cases, it may be appropriate to use trusts to protect your children’s financial future. These vehicles allow you to establish conditions for how and when assets are distributed, such as to fund education or an automobile purchase. It is important to note that an additional step with these vehicles would be to name someone you trust to oversee and approve requested withdrawals. As such, these folks are called “trustees.”

                        Plan for Disability or Incapacity

                        Estate planning encompasses more than stipulating what happens after death. The process also provides you with the opportunity to create additional documents to manage your affairs if you become incapacitated including:

                        • Durable Power of Attorney: this document grants another person the authority to manage your finances and legal matters. Most commonly this authorization becomes effective when a doctor deems a patient unable to effectively pay bills, etc.
                        • Healthcare Proxy and Living Will: this document is sometimes called a medical directive as it appoints a trusted individual to make medical decisions for you and outlines your preferences for medical care. In addition, this document stipulates whether you want to receive life-prolonging measures if you are in a coma. While there have been many instances of gifts clients have given to their adult children, this is by far one of the most appreciated as it leaves little room to wonder, “What would mom want me to do?”

                        Secure Life Insurance

                        For many, life insurance is a cornerstone of financial security for single parents. It provides the necessary funds for your children’s care, including housing, education, and daily living expenses, should something happen to you. Our advisors calculate an appropriate amount of coverage based on client needs and make an introduction to an agent to secure the appropriate type of policy. For many, term policies are the most affordable way to provide the needed coverage for a specific period of time, such as during your working years.

                        Final Thoughts

                        It is important to store your will, trust, and other critical documents in a safe, accessible place, share the location with your chosen executor or trustee, and provide copies to key individuals, including your financial advisor. Life changes, such as a new job, relationship status, or changes in your children’s needs, may require updates to your estate plan. Review your documents annually or after significant life events to ensure everything remains current. Finally, you will want to discuss your intentions and plans with your chosen guardians, trustees, and any other individuals who will be involved with your estate. Clear communication can prevent misunderstandings and help everyone prepare for their roles.

                        Above all, as a single parent, creating an estate plan empowers you to make important decisions for your children’s future. While it can at first feel overwhelming, following the steps above (with guidance from an estate planning attorney and your financial advisor) can make it more likely that your wishes will be honored. Ultimately by planning today, you are creating a legacy of love, care, and security for the ones who matter most. The beauty of this process is that it can be replicated as life evolves and priorities change.

                        To learn more or get help with your finances, please visit us at homrichberg.com, send an email to info@homrichberg.com, or call 404.264.1400.

                        Download this article.

                        Important Disclosures

                        This article may not be copied, reproduced, or distributed without Homrich Berg’s prior written consent.

                        All information is as of the date above unless otherwise disclosed. The information is provided for informational purposes only and should not be considered a recommendation to purchase or sell any financial instrument, product, or service sponsored by Homrich Berg or its affiliates or agents. The information does not represent legal, tax, accounting, or investment advice; recipients should consult their respective advisors regarding such matters. This material may not be suitable for all investors. Neither Homrich Berg nor any affiliates make any representation or warranty as to the accuracy or merit of this analysis for individual use. Information contained herein has been obtained from sources believed to be reliable but are not guaranteed. Investors are advised to consult with their investment professional about their specific financial needs and goals before making any investment decision.

                        ©2025 Homrich Berg.

                        Making The Most Of Your Year-End Bonus: Strategies For Long-Term Financial Growth

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                        Although most of us are in the process of setting new work goals for 2025 and looking at the challenges and opportunities the new year may bring, it’s also a time when past performance is reviewed, often resulting in a well-earned bonus. This annual reward is often in the form of a substantial year-end bonus and means important decisions must be made.

                        For those who receive a large cash bonus, there are many opportunities and options on how to spend or invest that money. Each of those options and the potential benefits will be based on the specific objectives and circumstances of the person or family. These would include whether you are a young professional, are planning for kids’ or grandkids’ college expenses, or are closer to retirement. A financial advisor can help families determine the best path forward for each scenario.

                        Now, after a hard-earned bonus is received, it is, of course, natural and right to enjoy a piece of that bonus and spend it on a vacation or a new toy for yourself or your family. Beyond that, there are the traditional options that can be considered:

                        • Pay down your high-interest debt.
                        • Boost contributions to your 401(k) or Health Savings Account (HSA) for tax-advantaged growth.
                        • Max out contributions to a 529 plan. Depending on where you claim residency, your state may offer a state tax deduction for 529 plan contributions.
                        • Establish and contribute to an IRA. In addition to 401(k) contributions, you can also contribute to a Roth IRA if your income is below certain limits ($161k for single filers and $230k for married filing jointly). Alternatively, you may be able to deduct a contribution to a traditional IRA although the income limits are generally lower and dependent on whether you or your spouse is eligible to participate in an employer plan.
                        • Make a charitable stock donation to your preferred charity with stocks that have embedded gains. You will receive a tax break for your donated securities. Contributing appreciated stock and using your bonus cash to re-buy the stock at a higher basis resets basis on future capital gains, reducing your taxes in the future.
                        • Review your insurance coverage, including disability or umbrella liability policies.
                        • Replenish your emergency savings.
                        • Invest in stocks and bonds.

                        For the last one, given that the stock market has been hitting new highs in recent months, investing at market highs can feel daunting, but there are strategies to navigate this uncertainty while growing your wealth. Not only that, but stocks are also broadly considered “expensive” today. However, this should not deter you from investing in your future and ensuring that today’s bonus is working for you over the years to come. There are ways to increase your exposure to the stock market, even in today’s backdrop, without just closing your eyes and feeling like you are blindly buying the market. Three options are:

                        • Structured notes are designed to meet specific objectives, such as growth, income, or risk management. They do so by combining a traditional security, like a bond, with a derivative component, linked to a stock index in our example. A structured note does not hold an actual underlying portfolio of investments like a mutual fund, or an exchange-traded fund (ETF) does. Instead, the issuer of the note promises to pay a return based on a formula that incorporates the performance of one or more underlying stock indexes. As an example, if we wanted to invest in the S&P 500, we would create a structured note that tracks the performance of the S&P 500 over a predetermined time period. We use these notes to help clients enter the market, or to add risk to their portfolios over time. Investors can also determine the level of risk they want to try to mitigate through either fully principal-protected notes or notes that have a buffer.
                          • Fully principal-protected notes (PPNs) have a structure that offers a full return of principal at maturity, regardless of how the underlying assets perform. If the underlying stock index had a negative return over the specific period, an investor is made whole upon maturity.
                          • Buffer notes typically provide protection such that if the buffer level is breached, an investor’s potential principal loss is restricted to the extent of losses more than the buffer. For example, if a note has a buffer of 10% and the underlying index declines 5%, the investor receives full principal back; however, if the reference declines 30% percent, the investor loses 20%.
                        • Direct indexing is a strategy that looks to replicate a stock index, like the S&P 500 or Russell 3000, through ownership of individual stocks. The strategy involves selling positions that are down to recognize the losses and using those losses to offset capital gains from other positions. This strategy may help reduce your tax bill. Direct indexing strategies can offer systemic solutions to harvest tax losses automatically and opportunistically throughout the year. The portfolio should track the broader index over time but allow for the potential deferral of taxes. This way, if you invest and the market takes a sudden downturn, you have the potential benefit of tax losses in your portfolio to use going forward.
                        • Dollar-cost averaging (DCA) is the simplest method to invest in the market over time and is a strategy that can make it easier to deal with uncertain markets by making scheduled purchases. DCA involves investing a specific amount over regular, pre-determined time periods. For example, you could invest one-fourth of your bonus and then another one-fourth over the next 90 days, invest at the 30, 60, and 90-day mark. However, we know markets tend to go up over time, so historically this is not the best method to invest. To improve outcomes, you may want to invest 100% in less volatile asset classes such as bonds or hedge funds and limit your DCA to stocks. Also, if stocks do drop, say, 5-10%, it may be worthwhile moving up your purchases to take advantage of a drop.

                        The potential benefits and risks of each strategy will differ based on individual circumstances. To learn more or get help with your finances, please visit us at homrichberg.com, send an email to info@homrichberg.com, or call 404.264.1400.

                        Download this article.

                        Important Disclosures

                        This article may not be copied, reproduced, or distributed without Homrich Berg’s prior written consent.
                        All information is as of the date above unless otherwise disclosed. The information is provided for informational purposes only and should not be considered a recommendation to purchase or sell any financial instrument, product, or service sponsored by Homrich Berg or its affiliates or agents. The information does not represent legal, tax, accounting, or investment advice; recipients should consult their respective advisors regarding such matters. This material may not be suitable for all investors. Neither Homrich Berg, nor any affiliates, make any representation or warranty as to the accuracy or merit of this analysis for individual use. Information contained herein has been obtained from sources believed to be reliable but are not guaranteed. Investors are advised to consult with their investment professional about their specific financial needs and goals before making any investment decision.

                        ©2025 Homrich Berg.

                        The New Year And Your Money Story

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                        The New Year is a time filled with anticipation, expectation, and possibility. Most of us see the promise of a better self, situation, or future. We look to shake off the baggage of the old and start fresh. But as much as you may want to put last year into your rear-view mirror, your money story is in the driver’s seat with you.

                        Reflecting on Your Current Money Story

                        January is already behind us, so today is the day to evaluate how your money story works for you and consider if you are on a path to a better self, situation, or future by the end of 2025.

                        What money story are you bringing into the New Year?

                        • Abundance or scarcity?
                        • Ease or struggle?
                        • Fear or delight?
                        • Shame or confidence?
                        • Debt or security?

                        Stop and think about your relationship with money; we all have one, whether we acknowledge it or not. That relationship brings up feelings, whether we like to confront them or not.

                        Understanding Your Financial Backstory

                        Money isn’t a subject most want to discuss, especially when it relates to personal mistakes or feelings of inadequacy. But during this time of possibility, it’s the perfect moment to write the plot of the story you want to live. Envision the happy, ecstatic, abundant ending you desire, and start taking baby steps to get there.

                        When writing (or reading) a story, you need to know where the character starts. As the author of your money story, you must understand:

                        • What happened in your financial past
                        • Struggles you’ve faced
                        • Lessons learned from mistakes and missteps

                        You can’t achieve your desired ending without acknowledging everything that came before.

                        Recognizing Financial Patterns and Beliefs

                        As kids, we pick up messages about money without fully understanding them:

                        • We sensed if money caused tension between our parents.
                        • We noticed if it seemed hard or easy to obtain.
                        • We learned unspoken rules about what “people like us” could expect financially.

                        These emotional memories stick with us into adulthood, even as our understanding of money evolves. We may still feel shame or fear around past financial mistakes, leading to behaviors like avoiding financial decisions, delegating them to a partner, or labeling ourselves as “just not good with money.”

                        Charting a New Financial Path

                        What money emotions and labels are you bringing with you into the New Year?

                        If your feelings about money, your ability to earn, manage, save, and grow it, are not positive and confident, it’s time to:

                        • Probe the emotions around money.
                        • Delve into your money past to uncover the roots of your perceptions and philosophies.
                        • See your younger self with compassion, using lessons learned as fuel for growth.

                        Understanding the source of your emotions is key to reframing them. For example, feeling anxious about money because of childhood experiences doesn’t mean that anxiety has to define your financial mindset as an adult.

                        Setting Intentions for Financial Growth

                        As you reflect on your emotions around money, ask yourself:

                        • How do I want to feel about money and my abilities to earn, manage, and accumulate it?
                          • Confident
                          • Secure
                          • Hopeful
                          • Proud

                        If that’s not how you feel now, consider: How can you write your own plotline to lead you from where you are now to your own happy, ecstatic, abundant ending?

                        It’s a new year, full of new possibilities. You get to choose how it ends. Write your story, line by line, step by step, chapter by chapter, as you overcome fears and doubts to create the life you want. Acquire the knowledge and skills needed to feel competent with your financial decisions.

                        Let’s meet here next year feeling more confident, more secure, more hopeful, and prouder of our own money stories and the progress we’ve made.

                        If “feeling more competent and empowered” is part of how you want to feel this year, join me for my free 60-minute webinar, Let’s Talk Taxes, on February 18th at 12:00 p.m. EST. Even if you can’t attend, those who register will get a link to the video and the slides after the event. Click here for more information and to register. I’ll be doing webinars throughout the year so watch for more details about these upcoming free events.

                        To learn more or get help planning your financial goals, please email me at gildea@homrichberg.com.

                        Download this article.

                        Important Disclosures

                        This article may not be copied, reproduced, or distributed without Homrich Berg’s prior written consent.

                        All information is as of date above unless otherwise disclosed.  The information is provided for informational purposes only and should not be considered a recommendation to purchase or sell any financial instrument, product or service sponsored by Homrich Berg or its affiliates or agents. The information does not represent legal, tax, accounting, or investment advice; recipients should consult their respective advisors regarding such matters. This material may not be suitable for all investors. Neither Homrich Berg, nor any affiliates, make any representation or warranty as to the accuracy or merit of this analysis for individual use. Information contained herein has been obtained from sources believed to be reliable but are not guaranteed. Investors are advised to consult with their investment professional about their specific financial needs and goals before making any investment decision.

                        ©2025 Homrich Berg.

                        The Potential Impact Of Tariffs

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                        There has been significant political activity under the new administration, but in the past two weeks, investor attention has shifted sharply to tariffs. From the start, it was clear that tariffs would be a key priority for President Trump, who has openly used them as a negotiating tool. Last week, tariffs were announced on Mexico and Canada, only to be swiftly delayed by 30 days for further negotiations. Meanwhile, tariffs on Chinese goods have been met with swift retaliation from China. In this video, we will look at the potential impact of tariffs on the economy and investment portfolios.

                        If you have any questions, please reach out to a member of your client service team.

                        Watch here: https://youtu.be/0jazhfZOyV0