10th Edition of the Steady Gains Newsletter

Upcoming Webinar

A reminder that our upcoming webinar, Advanced Tax Planning Masterclass for Incorporated Business Owners & Professionals, takes place on Wednesday, July 8 at 12:00 PM EST.

Join us for a virtual discussion on advanced tax planning strategies, including compensation planning, Capital Dividend Account (CDA) opportunities, charitable gifting, and tax-efficient asset location.

Register below to reserve your spot or receive a recording after the event.

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The Conversation Every Cottage Owner Needs to Have

Ask most people what makes passing down a cottage hard, and they point to the tax. They are looking at the wrong thing.

The tax is solvable, and the tools are well worn. Life insurance can fund the bill, so no one has to sell to pay it. A trust can hold the cottage, carry a sum for its upkeep, and shield it from a child's creditors or divorce. Leaving it to a spouse defers the tax to the second death. And your cost base is likely higher than you remember, since every dock, deck, and renovation since you bought it reduces the eventual gain. Each of these can be put in place while you are still here to decide.

What is harder is the part nobody plans for. One child treats the cottage as sacred. Another would rather have the cash. A third cannot afford the upkeep but will not say so. A simple family agreement, covering who uses it when, who pays for what, and who can buy out whom, settles on paper what grief and money otherwise settle badly.

The cottage is rarely lost to the tax. It is lost to the conversation that never happened.

Everyone's Watching SpaceX. The Real Test Is A Year Away.

SpaceX went public on June 12 in the largest IPO ever. It climbed for its first few days, then turned, and much of the early gain has since dissipated.

The hype is loudest exactly when the price is highest.

The list of celebrated debuts that punished early buyers is long. Roots went public and immediately fell, never recovering to its offering price. Uber and Lyft spent years trading below their IPO valuations. Even Facebook sank well below its offering price before it recovered.

SpaceX's real test hasn't arrived. Today, only about 4% of its shares can trade. This scarcity likely drove much of the early spike. Over the next year, a staggered series of lockups releases the rest, culminating in Elon Musk's 6.4 billion shares in June 2027.

The thrill of a new listing is not the same as a good investment, and the two are easiest to confuse on day one.

Caldwell Group

Richardson Wealth Limited