Even if you never thought of yourself as especially wealthy, there may be a fair chance that you fall into the category of "high net worth individuals"—those who have liquid assets of $1 million or more.1 For many individuals who hope to leave a legacy for their loved ones, estate planning may take on new importance. Here are two estate planning tips every high-net-worth individual should consider.

Defined benefit pension plans may still be an attractive retirement benefit option for small employers. This is especially true for small business owners who have been too busy growing their businesses to plan for their retirement. Because of their late start, they must make up for lost time. A defined benefit plan may be just the ticket.

Working in medicine may be challenging, especially with the strain placed on health care professionals in recent years. Working towards a comfortable early retirement may be a financial goal for some physicians. Here are some suggestions that doctors may use to manage financial independence.

New Year's is traditionally the time to review your life and make resolutions for change. In addition to thinking about working out, eating healthy, and meeting personal and professional goals, you should also think about your finances. To make the most of the New Year, keep the following tips in mind.

Tax planning might be complex, but it's also essential—especially for high-net-worth families, where missing tax breaks or failing to optimize income could cost significant dollars, maybe millions, over a lifetime. And even in the short term, with the highest marginal federal tax rate sitting at 37% for 20241 (plus additional state and local taxes), a lack of tax planning could mean you keep less than half of every dollar you earn. Here are four tax planning tips that may help you optimize your finances.