Michael Torney
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By Michael Torney, CFP, J.D., LL.M. Stock options often make up an attractive component of a senior-level executive’s pay. At most large companies, options are awarded annually as an incentive to help the company meet its…
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By Michael Torney, CFP®, J.D., LL.M. Most owners work constantly to build their businesses. They are always seeking to find new customers, increase revenues and maximize profits. Yet, many don’t know how much their business is…
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By Michael Torney, CFP, J.D., LL.M. It’s not unusual for corporate executives to have a lot of their wealth tied to the success of their employer. Not only do they earn a paycheck from their employer,…
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By Michael Torney, CFP, J.D., LL.M. Most entrepreneurs have a single focus – working to make their business successful until it is generating steady profits. To achieve that goal, they often invest 100 percent of their…
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By Michael Torney, CFP, J.D., LL.M. For individuals or couples earning a high income this year, it’s important to determine not only how to allocate your earnings to maximize investments, but also to reduce taxes.…
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By Michael Torney, CFP, J.D., LL.M. Business owners considering selling their companies usually have a few options – such as selling to a local competitor, family member(s), a large chain, or a private equity firm. But…
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By Michael Torney, CFP, J.D., LL.M. As physicians finish residency and start their life in practice, planning for long-term financial success should become a top priority. For most physicians, this is the point where they command…
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by Michael Torney, CFP®, J.D., LL.M. As a physician just starting your practice or switching jobs, you have a lot of financial considerations to consider. One of the most important to-dos is signing a contract…
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By Michael Torney, CFP, J.D., LL.M. Stock appreciation rights (SARs) are a type of equity compensation award. They give an executive the right to compensation based on the difference between the company’s stock price on a…
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By Michael Torney, CFP, J.D., LL.M. Restricted Stock Units (RSUs) and Restricted Stock Awards (RSAs) can be valuable parts of an executive’s overall compensation package and wealth building strategy. Both are eventually grants of company stock…
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By Michael Torney, CFP®, J.D., LL.M. Lawsuits loom as an ever-present fear for physicians. According to the American Medical Association (AMA), more than one-third of physicians report being sued for malpractice. A similar study found that…
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Michael Torney, CFP, J.D., LL.M. John D. Rockefeller once said, “I always tried to turn every disaster into an opportunity.” With the stock market down by double digits in 2022, investors have such an opportunity…
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By Michael Torney, CFP, J.D., LL.M. Many of my clients donate money to their favorite charities. I understand their passion. My wife and I are avid, long-time supporters of The Muny – St. Louis’ outdoor theater…
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By Michael Torney, CFP, J.D., LL.M. Medical doctors, especially those starting out, can face unique financial challenges. They’ve often spent years studying for exams and working long hours in residency while watching their former college…
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By Michael Torney, CFP, J.D., LL.M. Medical doctors working in a private practice may one day get the opportunity to become an owner of the business. When this offer is made, a physician needs answers to…
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By Michael Torney, CFP, J.D., LL.M. As someone approaches retirement, sells a business or inherits money, they need to develop a new skill: staying wealthy. Just as you had a goal to build your wealth, now…
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By Michael Torney, CFP, J.D., LL.M. It’s an unusual time for people approaching retirement. While everyone wants to know if they are financially ready to retire, rising inflation and a slumping stock market may be fueling…
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By Michael Torney, CFP, J.D., LL.M. Despite the stock market’s recent downturn, many people will plan this year to donate money to their favorite nonprofit organizations. But with nearly everyone taking a closer look at all…