Zuckerman Private Wealth Management

Retirement today isn’t all or nothing.

Instead of wondering when you can retire, ask how to reshape work so it brings more freedom and fulfillment.

Think part-time consulting, board roles, or seasonal projects. For many, it’s not about leaving work behind—it’s about reclaiming time, energy, and purpose.

The right financial strategy can give you the freedom to scale back without cutting back on lifestyle or goals.

If you had one extra day off every week, how would you spend it?

Before the dorm is decorated and the laptop is packed, it’s worth pausing for a few honest money conversations.

Sending a child to college is a huge emotional milestone—and an equally significant financial one.

Talking through a few key topics ahead of time might help manage stress and build confidence for the road ahead.

Here are a few conversations to consider:

📚 Budgeting basics: Walk through a realistic monthly budget, including things like food, books, transportation, and the unexpected expenses that always come up.

💳 Credit cards: Talk about how interest works, the pros and cons of paying only the minimum, and what responsible use might look like.

🍟 Needs vs. wants: College is full of spending temptations. Helping students define what’s essential can help set the tone for better long-term habits.

📁 Student loans and debt: Even if you’re not borrowing now, talk about what student debt means and how the payment process works.

💼 Earning while learning: Discuss whether part-time work is on the table and how it could help with both money management and confidence.

These conversations aren’t just about numbers—they’re about helping your student feel equipped, supported, and ready to make smart choices on their own.

August may signal the end of summer, but it’s also the gateway to one of the riskiest weather seasons of the year.

Most people associate spring with severe weather, but fall ranks as the second-most active storm season in the U.S., according to the National Weather Service. And with an above-normal Atlantic hurricane season already forecasted by NOAA this year, it’s a good time to check in on your insurance coverage—before the next warning siren sounds.

Here are a few steps to consider:
✅ Review your policy limits. Check to see if coverage reflects your current home value and rebuilding costs, not outdated estimates.
✅ Know your deductibles. Wind and hurricane deductibles might be higher and calculated as a percentage of your home’s value.
✅ Check your flood coverage. Flood damage isn’t covered by standard homeowners insurance, and there may be a waiting period for flood policies.
✅ Take inventory. Document your belongings with photos or serial numbers.
✅ Prep your emergency kit. Consider stocking food, water, prescriptions, chargers, and pet supplies for a few days.

It’s easy to put off… until it’s too late. Check your coverage before the next storms roll in.

🏖️ Which U.S. beach ranks #1 in 2025? 🏖️

According to Dr. Stephen Leatherman—aka “Dr. Beach”—Cooper’s Beach in Southampton, NY, takes the top spot this year, earning praise for its expansive white-sand shoreline, protective dunes, and classic Northeast charm.

Each year, Dr. Beach ranks U.S. beaches using 50 criteria, including water quality, safety, environmental management, and scenic beauty.

For 2025, the top 10 beaches are in five states:

• Hawaii: 4 beaches
• New York: 2 beaches
• Florida: 2 beaches
• Massachusetts: 1 beach
• South Carolina: 1 beach

Hawaii consistently dominates the list, but this year, the East Coast claims the crown.

Hope everyone’s enjoying their favorite beach this August.

🏖️ Which beach do you think is the best in the U.S.?

It’s National Intern Day—and we’re all in! 🙌

Giving the next generation of professionals an internship is more than just a summer job.

Internships are a chance to explore, contribute, and grow—and we’ve seen firsthand how much talent and fresh thinking interns can bring to the table.

To all the interns out there hustling, learning, and making an impact (yes, we see you), and to the teams who take the time to mentor and support them, thank you! 🙌

Why Job-Hopping Isn’t Paying Like It Used To

Thinking about switching jobs for a raise? You may want to reconsider your expectations.

📉 The Wall Street Journal in March 2025 reported that the salary bump workers used to get when changing jobs has largely disappeared.

Here’s what’s happening:
- The pay boost for job switchers has shrunk
- Employers are holding the line on pay
- The premium for switching jobs has all but disappeared.

So, if you’re thinking about a job change or giving guidance to others (like your kids) on job transitions, this is a valuable trend to keep in mind.

Every once in a while, you come across a story that completely reframes what one person can achieve in a lifetime.

In April 2025, The Wall Street Journal profiled Jonny Kim—a man with one of the most extraordinary résumés you’ll ever see:

👉 Navy SEAL with 100+ combat missions

🎓 Harvard Med School physician

🚀 NASA astronaut training for a potential Moon mission

He’s not on social media. He doesn’t self-promote. And he’s barely 40.

Why share this as a financial professional?

Stories like this remind us how much people are capable of and how important it is to align your time, energy, and, yes, your finances with what matters most to you.

You don’t need to be an astronaut. But you get to decide how you spend your time, what legacy you want to leave, and what’s worth striving for.

It’s why we do what we do—to help people fund the lives that matter most to them.

Would you rather have stock options or restricted stock units?

If you’re not sure how to answer that, you’re not alone!

Here’s a quick breakdown of their differences:

💡 Stock Options
⚬ Right to buy shares of the company you work for at a set “strike price”
⚬ Only valuable if the stock price > the strike price
⚬ Typically vests over several years (e.g., 25% annually)
⚬ Might be taxed at exercise (NSOs) and again at sale
⚬ Liquidity depends on a market to sell shares and often requires an IPO or acquisition if the company is private

📊 Restricted Stock Units (RSUs)
⚬ Shares of the company you work for that are delivered at vesting — no purchase needed
⚬ Vest based on time or performance
⚬ Taxed as ordinary income at vesting; any gain after is taxed as capital gains
⚬ In private companies, shares often can’t be sold until a liquidity event

Each has distinct tax and liquidity considerations. Understanding how they work can help you better align your compensation with your financial strategy.

If you have an equity comp or are evaluating a new offer, we’re happy to review your package and discuss how it fits into your overall financial strategy. After some initial work, a tax, legal, or accounting professional can help you better understand any future tax implications.

🌟If you have or know a young person earning money this summer, you should share this with them!

For young adults, a Roth IRA can be a powerful retirement savings tool, but most don't understand how it works.

Here are 6 things to know:

1️⃣ You contribute after-tax dollars, and your money grows tax-free!

2️⃣ You don’t need a full-time job. Any earned income — even from a part-time or freelance job qualifies you to contribute.

3️⃣ Contribution limits are separate from your 401(k). In 2025, you can contribute up to $7,000 to a Roth IRA even if you’re also contributing to a 401(k).

4️⃣ You can withdraw contributions anytime. Unlike many retirement accounts, you can pull out the money you put in (not earnings) without taxes or penalties.

5️⃣ You can start small. Even $50 a month can make a big difference over time.

6️⃣ You could consider helping them get started by offering to “match” some of their money if they are interested in opening an account.

Key takeaways:

✅ Starting a Roth IRA early can give young investors a massive head start, offering flexibility, growth, and tax advantages few other accounts match.

✅ Once you turn 73, you must take the required minimum distribution from your 401(k). Withdrawals are taxed as ordinary income and may be subject to a 10% federal income tax penalty if taken before age 59½.

✅ With a Roth IRA, to qualify for the tax-free and penalty-free withdrawal of earnings, Roth IRA distributions must meet a five-year holding requirement and occur after age 59½. Tax-free and penalty-free withdrawals can also be taken under certain other circumstances. The original Roth IRA owner is not required to take minimum annual withdrawals. With a Roth 401(k), employer matching with pre-tax dollars is not distributed tax-free during retirement.

Would you be able to tell if a scammer faked your loved one’s voice?

Thanks to AI, think again...

Scammers can now clone a voice using just a few seconds of audio from something like your voicemail message!

Here are ways we suggest you protect yourself:

👉 Don’t believe caller ID. Scammers can spoof numbers to make them appear to be from a loved one.

👉 Set a family “safe word”

👉 Always call the person back on a known number

👉 Report it. If you do receive a scam call, consider reporting it to the Federal Trade Commission and the FBI’s Internet Crime Complaint Center.

AI voice scams are becoming increasingly common. If you have older adults in your family, be sure to warn them and share these tips before it happens to them!

Could someone open a credit card in your name?

If your credit isn’t frozen, the answer might be yes.

The bottom line is that a credit freeze is the one thing you can do to block fraudsters from opening new accounts using your information, even if they have all or any of your personal information.

🛑 What is it?
A credit freeze is designed to restrict access to your credit report. It doesn’t hurt your score or affect your existing accounts.

When should you consider doing it?
Maybe now! It’s proactive protection—and can be more effective than just monitoring your accounts.

🔓 How do you freeze your credit?
You’ll need to set up accounts at all three major bureaus (Equifax, Experian, and TransUnion). You may be able to set up an account online, or you may have to call them.

Can you still use credit?
Yes! You can lift or "thaw" the freeze anytime—permanently or temporarily—if you’re applying for a loan, credit card, or job.

So many people have experienced some kind of fraud. Freezing your credit takes just minutes and could help you manage a financial nightmare.

How much do you really know about 529 college savings plans?

There are a lot of misconceptions about how they work.

Here are some common 529 plan questions answered:

1️⃣ Can I use 529 funds for K-12 education? Yes, up to $10,000 a year for tuition at private elementary or secondary schools.

2️⃣ What if the child doesn’t go to college? You can change the beneficiary or withdraw funds (taxed and penalized only on the earnings portion).

3️⃣ Can I use a 529 for apprenticeship programs? Yes — if they're registered with the U.S. Department of Labor.

4️⃣ Can I pay off student loans with a 529? Up to $10,000 can be used toward qualified student loans.

5️⃣ Can grandparents open a 529? Yes, and recent rule changes make it easier for some to avoid hurting financial aid eligibility.

6️⃣ What if I move states? You can roll your 529 into another state's plan, but check for tax implications.

7️⃣ Are 529 plans only for college? No — they can also be used for trade schools, graduate programs, and some continuing education programs.

✅ 529 plans are great, but the rules are nuanced. Before funding a plan, check with a financial professional who understands the latest regulations and can show you how they apply to your specific situation.

A 529 plan is a tax-advantaged college savings plan. Before choosing a plan, it's important to consider not only the state tax treatment but also any associated fees and expenses. Availability of a state tax deduction will depend on your state of residence, as state tax laws and treatment may vary from federal tax laws. If you make nonqualified distributions, earnings will be subject to income tax and a 10% federal penalty tax.