Bowers Private Wealth Management

06/15/2026

FDIC coverage is insurance provided by the government to replace your money if a covered bank goes under.

The government limits the amount of coverage to $250,000.

But did you know that this limit applies to account ownership categories, and not necessarily the individual?

If you have a joint account with your spouse, you each have $250k coverage in that account, provided it meets the required guidelines.

If you each also have an individual account at the same bank, then you also each have the $250k for those accounts, for a total of $500,000 in coverage.

This works on a per-bank basis, so the coverage amounts are applicable at each bank separately.

However, if you have multiple joint accounts, your portion of FDIC coverage for your aggregate position in joint accounts will not exceed the $250k maximum.

06/12/2026

With our BPWM Proven Process for financial planning, everything begins with getting to know you.

Not your portfolio.
Not your account balances.
You.

We’re all about building strong relationships and building plans around your life. The numbers matter, but they only make sense in the context of your life, your responsibilities, your goals and objectives.

Many of the families we work with are balancing demanding careers, growing businesses, complex equity compensation, aging parents, and raising children.

Time is limited.
Financial decisions are complex.
The stakes feel high.

Our role is to help simplify that complexity, reduce unnecessary stress, and give you back the mental bandwidth you need to focus on what matters most.

You spend less time worrying about your finances, and more time doing what you love.

06/10/2026

Many people mistakenly confuse financial planners with money managers, and that’s okay. But here are some key differences:

1) Money managers seek returns that beat some benchmark, financial planners seek returns needed to achieve your goals.

2) Money managers only need your suitability information, while financial planners need to really get to know you as a person.

3) Financial planners help you accumulate and protect your wealth and develop plans to use it to achieve your goals. Money managers help you build wealth, then leave the rest up to you.

4) Financial planners discuss a broad range of topics that impact your personal and financial life, whereas money managers discuss investments.

Both can be invaluable in helping you achieve the desired outcomes, but it’s important to know the differences in the services provided, so you can choose the one that will be most beneficial for achieving your specific objectives.

06/08/2026

One of our core beliefs as a financial planner, is the necessity of everyone having an emergency savings account.

These are especially important for our small-business owner clients.

Even though we don’t typically manage these accounts or collect any fees from them, they are discussed in virtually every client meeting we have.

One of our clients has been going through some drastic changes with their business this year. Their revenue and income have taken a huge hit due to all the changes, but thanks to emergency savings, they haven’t been forced to sell off any assets to cover expenses.

It may seem like a small detail to some, but having a fully-funded emergency savings account can make a huge difference. Image if they didn’t have savings, and were forced to sell when the market was down 😬.

06/04/2026

When you work for yourself, nobody is setting up a 401(k) for you.

There are a handful of options available for self-employed individuals and small business owners, and the differences between them can be significant.

Here’s a breakdown of the most common options:

SEP-IRA (Simplified Employee Pension)
A popular because it’s simple to set up and there is virtually no paperwork to maintain.
Contributions are employer-only, and you can contribute up to 25% of your net self-employment income, (up to $72,000 plus catch-up contributions if you qualify) for 2026.
Salary deferrals and Roth are not allowed.

SIMPLE IRA
Designed for small businesses that actually have employees. If you have a handful of staff and want a straightforward retirement plan with minimal complexity, this can work.
The contribution limits are significantly lower, with max deferrals for 2026 dependent on the number of employees, but under $20,000 (plus catch-up contributions if you qualify).
The employer is required to make contributions each year, which could present a challenge if income fluctuates or you have some negative earning years.

Defined Benefit (Pension) Plan
Can allow very high earners - often in their 50s or older - to sock away $100,000 or more per year on a tax-deferred basis. The contribution limits are determined by an actuary based on your age and income. The tax deductions can be substantial.
The downside is complexity and cost: you need an actuary to manage the plan every year, and there are ongoing filing requirements. For someone with very high income who is behind on retirement savings, it is worth a conversation.

The Solo 401(k)
Usually the Best Option for Solopreneurs. If you are self-employed with no full-time W-2 non-spouse employees, the Solo 401(k) is worth serious consideration.
As both employer and employee, you can make two types of contributions. You can defer up to $24,500 (plus catch-up amounts) as an employee in 2026. You can also make an employer profit-sharing contribution of up to 25% of your net self-employment income.
The combined total can reach $72,000 in 2026 (not including catch-up contributions). Also, many Solo 401(k) plan documents allow you to designate contributions as Roth.
You need to establish the plan by December 31st of the year you want to begin contributing (for existing businesses).
If your plan assets exceed $250,000 at any time during the year, you will need to file Form 5500 annually.

06/02/2026

When you work for yourself, nobody is setting up a 401(k) for you, and that’s actually a good thing.
You have more flexibility and the ability to save significantly more for retirement.
The tricky part is figuring out which plan makes sense.
There are a handful of options available for self-employed individuals and small business owners, and the differences between them can be significant.
Here’s a breakdown of the most common options.

There are a handful of options available for self-employed individuals and small business owners, and the differences between them can be significant. Here’s a breakdown of the most common options, and why one of them tends to stand above the rest for solo business owners.

06/01/2026

As a financial planning firm, we work with small-business owners to help them build value in their business, and align their personal and financial goals.

What steps can you take now to help ensure a more successful future for you and your business?

05/28/2026

One of our client’s businesses recently took off. Net income basically doubled overnight. Maximizing 401(k) and cash balance plan contributions were barely making a dent in their $1+ million tax bill. Here’s a few things we did that really moved the needle:

Worked with their CPA to determine appropriate salary increases to help beef up cash balance plan contributions.

Set up a donor advised fund to help streamline their charitable donations while reducing their capital gains and NIIT taxes.

Invested in various oil and gas partnerships to reduce current taxes and provide tax-favored income streams.

Worked with their CPA to help restructure their business to provide better protection and streamline cash flow.

Increased contributions to their taxable account to maximize tax-loss harvesting.

It’s too early to know the extent of the impact this will have, but it should be fairly significant. When your financial planner and other professionals work together on your behalf, that’s when you see the greatest impact.

Disclosure:
These are generalized scenarios for educational purposes and are not intended to represent any specific individual or guarantee similar outcomes.

05/25/2026

Remembering and honoring those who have fallen

05/21/2026

Last year saw some big changes in tax law.

Here's a couple changes that take effect this year that you need to know about.

If you're 50 or older and contributing to a workplace retirement plan, the rules around catch-up contributions have changed.