Should Your Kid Have a Trump Account? Here's the Honest Answer. | Portus Perspectives

Should Your Kid Have a Trump Account? Here's the Honest Answer. | Portus Perspectives

In this installment of the Portus Perspectives series, William weighs in on one of the most talked about new financial vehicles of 2026. Trump accounts became available for the first time on July 4th, and the buzz around them has been significant.  And for good reason.  Trump accounts allow parents to put money into a pre-tax account for children under the age of 18. The government contributes an initial $1,000 to get things started. In certain zip codes and income thresholds, additional contributions are being made on behalf of kids as well. And the power of compounding interest, what Albert Einstein famously called the eighth wonder of the world, means that money invested early and left alone has the potential to grow into a remarkable sum by the time a child reaches retirement age.  So yes, Trump accounts can be excellent vehicles. William is not here to knock them.  But he is here to push back on something he saw in an article that morning. A Treasury Department official suggesting that everyone should have a Trump account. And that kind of blanket recommendation is exactly what William takes issue with.  Here's the honest answer: Trump accounts are not for everyone. And for small business owners specifically, there may be a better option already available.  If you can employ your child and put money to work for them, a Roth IRA allows that money to grow tax deferred and come out completely tax free under qualifying conditions. A Trump account grows pre-tax but creates a taxable event upon distribution. When you put those two side by side, particularly for a business owner who has the ability to legitimately employ a child and fund a Roth IRA before age 18, the Roth often wins.  Not always. But often enough that the conversation is worth having before you open an account just because someone in Washington said everyone should have one.  Key Topics Covered:  * What Trump Accounts Are: How they work, who qualifies, and what the government contributes. * The Compounding Argument: Why getting money into accounts early is so powerful regardless of the vehicle. * The Problem With Blanket Recommendations: Why "everyone should have one" is rarely the right financial advice. * Trump Account vs Roth IRA: How the tax treatment compares and why it matters. * The Small Business Owner Advantage: How employing your child opens up Roth IRA contributions before age 18. * The Bottom Line: Great tool, not a must-have, and worth a real conversation before you commit. If you've heard about Trump accounts and are wondering whether your child needs one, this episode will give you the honest, balanced answer you are not going to get from a headline.   ➡️ Join the Conversation: https://portusadvisors.com [https://portusadvisors.com] ➡️ Portus Facebook Page: https://www.facebook.com/profile.php?id=61572848737086 [https://www.facebook.com/profile.php?id=61572848737086] ➡️ Portus LinkedIn Page: https://www.linkedin.com/company/portus-wealth-advisors/ [https://www.linkedin.com/company/portus-wealth-advisors/] ➡️ More Portus Perspectives: https://youtube.com/playlist?list=PLpVTaW63KqYSZ95HuYkvGAAwr1z4Br7Ol&si=7_qZ6fOTmfRWHDUp [https://youtube.com/playlist?list=PLpVTaW63KqYSZ95HuYkvGAAwr1z4Br7Ol&si=7_qZ6fOTmfRWHDUp]   ORIGINAL MEDIA SOURCE(S):  William Bissett: Should Your Kid Have a Trump Account? Here's the Honest Answer. | Portus Perspectives  Originally Recorded on July 17, 2026  Portus Perspectives: Episode 34   #TrumpAccounts #ChildSavings #RothIRA #FinancialPlanning #WealthManagement #BusinessOwner #SmallBusiness #CompoundInterest #TaxPlanning #PortusPerspectives #PortusWealth #Entrepreneurship #KidsSavings #RetirementPlanning #PersonalFinance

Why 70% of Business Owners Regret Selling Within a Year | Portus Perspectives

In this installment of the Portus Perspectives series, William shares the story of a client he worked with years ago at his previous firm in Baltimore. An attorney who worked for a smaller law firm in the DC area that handled M&A work and went under during the 2008 financial crisis.  Fortunately for this attorney, the M&A team he was part of got picked up by a much larger firm almost immediately. And his compensation didn't just change. It tripled. What was already a good salary became an extraordinary one overnight.  William and this client had been working through retirement projections for years. The plan was clear. Move down to the South Carolina coast, retire comfortably, enjoy the next chapter. They were close to the finish line. Everything was modeled, visualized, and mapped out.  And then the money got bigger. And walking away got harder.  The client sat at his kitchen table one day and said something William has never forgotten. If my dad knew what I was making now and knew I was walking away from it, I don't think he'd talk to me.  That single line captures something that a statistic confirms. Somewhere between 70 and 80 percent of business owners regret selling their business within a year of doing it. And William argues the reason is almost always the same. They knew what they were walking away from but didn't have a clear enough picture of what they were walking into.  The planning, the modeling, the retirement projections, all of it helps. But none of it fully cushions the reality of an irreversible decision. Once you sell, you almost certainly cannot buy that business back. Once you leave a lucrative position, your replacement has already been hired. The door closes behind you.  That is why having something that pulls you forward into the next chapter matters just as much as knowing what you are leaving behind.  Key Topics Covered:  * The Attorney Story: A law firm collapse, a compensation windfall, and a retirement plan that became harder to execute. * The Kitchen Table Quote: Why walking away from extraordinary income is one of the hardest decisions a person can make. * The 70 to 80 Percent Statistic: Why the majority of business owners regret selling within a year. * The Irreversibility Problem: Why knowing you cannot undo the decision makes pulling the trigger so difficult. * What You Are Walking Into: Why having a clear vision of the next chapter is as important as the financial plan. * The Pull Forward: Why the draw toward what is next matters as much as the push away from what was. If you are getting closer to an exit and finding it harder than you expected to pull the trigger, this episode will help you understand exactly why and what to do about it.   ➡️ Join the Conversation: https://portusadvisors.com [https://portusadvisors.com] ➡️ Portus Facebook Page: https://www.facebook.com/profile.php?id=61572848737086 [https://www.facebook.com/profile.php?id=61572848737086] ➡️ Portus LinkedIn Page: https://www.linkedin.com/company/portus-wealth-advisors/ [https://www.linkedin.com/company/portus-wealth-advisors/] ➡️ More Portus Perspectives: https://youtube.com/playlist?list=PLpVTaW63KqYSZ95HuYkvGAAwr1z4Br7Ol&si=7_qZ6fOTmfRWHDUp [https://youtube.com/playlist?list=PLpVTaW63KqYSZ95HuYkvGAAwr1z4Br7Ol&si=7_qZ6fOTmfRWHDUp]   ORIGINAL MEDIA SOURCE(S): William Bissett: Why 70% of Business Owners Regret Selling Within a Year | Portus Perspectives Originally Recorded on July 13, 2026 Portus Perspectives: Episode 32   #BusinessExit #ExitStrategy #SellYourBusiness #BusinessOwner #Entrepreneurship #RetirementPlanning #WealthManagement #PortusPerspectives #PortusWealth #SuccessionPlanning #FinancialPlanning #BusinessRegret #MindsetShift #LifeAfterBusiness #ExitPlanning #BusinessSale

The Power of Attorney Problem Nobody Warns You About | Portus Perspectives

In this installment of the Portus Perspectives series, William shares a story about a client he has worked with for 21 years. First met in 2005, now 93 years old, a man with an extraordinary life story that includes open heart surgery in the 1950s where doctors packed his chest cavity with ice to slow his heart, and 20 years of chemotherapy for cancer that he has continued to fight through. A remarkable person by any measure.  But this episode is not a celebration. It is a learning lesson, and not a positive one.  As this client has declined in recent months, the need for support has grown significantly. Someone to help navigate medical decisions. Someone to step in and manage finances. And the people surrounding him are in conflict.  A neighbor who became deeply involved in his healthcare decisions has upset many of those close to him personally. The people named as his power of attorney have pushed back against what is happening on the healthcare side. And now the client is likely to revoke his existing power of attorney and name someone new, a significant and disruptive step at 93 years old.  But here is the part that stopped William in his tracks. The client selected a durable power of attorney, meaning it goes into effect immediately rather than springing into effect only when a doctor certifies incapacity. He trusted the person he named. But the moment that person actually started exercising that power, accessing checking accounts, reviewing bills, doing exactly what a power of attorney is supposed to do, the client revolted against the situation.  At the same time, he is frustrated that his healthcare power of attorney does not kick in until a doctor signs off that he can no longer make his own decisions.  The documents are working exactly as they were designed to work. But the reality of how they operate is very different from what the client expected when he signed them.  That gap between intention and reality is the lesson William brings back to every business owner and every individual with estate documents in place. You can do all the right things, name the right people, update the documents at the right times, and still not fully understand how those documents will actually function until the moment you need them.  Have the conversations. Understand what durable means versus springing. Know who can do what, when they can do it, and what it will actually look like when it happens. Because the time to figure that out is not when you are 93 and declining.  Key Topics Covered:  * The 21 Year Client Story: A remarkable life and a difficult lesson about estate planning. * Durable vs Springing Power of Attorney: The critical difference and why it matters. * When Documents Go Into Effect: Why the timing of power of attorney activation catches people off guard. * Conflict Among Caregivers: What happens when the people surrounding a declining client are not aligned. * The Gap Between Intention and Reality: Why estate documents rarely work exactly the way you imagined when you signed them. * The Lesson: Have the conversations, stay educated, and understand your documents before you need them. If you have estate documents in place but have never sat down to truly understand how they will function when the time comes, this episode is your reminder to do that now.   ➡️ Join the Conversation: https://portusadvisors.com [https://portusadvisors.com] ➡️ Portus Facebook Page: https://www.facebook.com/profile.php?id=61572848737086 [https://www.facebook.com/profile.php?id=61572848737086] ➡️ Portus LinkedIn Page: https://www.linkedin.com/company/portus-wealth-advisors/ [https://www.linkedin.com/company/portus-wealth-advisors/] ➡️ More Portus Perspectives: https://youtube.com/playlist?list=PLpVTaW63KqYSZ95HuYkvGAAwr1z4Br7Ol&si=7_qZ6fOTmfRWHDUp [https://youtube.com/playlist?list=PLpVTaW63KqYSZ95HuYkvGAAwr1z4Br7Ol&si=7_qZ6fOTmfRWHDUp]   ORIGINAL MEDIA SOURCE(S):  William Bissett: The Power of Attorney Problem Nobody Warns You About | Portus Perspectives Originally Recorded on July 13, 2026 Portus Perspectives: Episode 31   #EstatePlanning #PowerOfAttorney #WealthManagement #FinancialPlanning #BusinessOwner #LegacyPlanning #Inheritance #AssetProtection #SuccessionPlanning #PortusPerspectives #PortusWealth #Entrepreneurship #DurablePowerOfAttorney #HealthcarePowerOfAttorney #FamilyWealth #BusinessSale

Why Someone Else Might Do Better With Your Business | Portus Perspectives

In this installment of the Portus Perspectives series, William opens with a quote that stopped him cold.  "Let it offend you that someone else could be handed your days and turn them into something greater."  It stings a little. And according to William, it probably should. Because there is a lot of truth in it.  He was reminded of a conversation years ago with a fellow financial planner who made a similar observation. If we swapped client lists, we would each probably uncover things the other had missed. William was offended by it at the time. But looking back, he thinks the guy was probably right.  We all see things through our own lens. We all have our way of doing things, our blind spots, our tolerances for what is good enough. And someone coming in fresh, without those filters, is going to see things differently. Sometimes better.  That dynamic shows up in a very specific and very personal way for business owners preparing to sell. Because letting go of the day to day, allowing other people to step into the roles you have owned for years, carries an ego component that doesn't get talked about enough. What if they do it better? What if they uncover the things you were doing wrong?  William's reframe is a powerful one. The goal was never to be the best at every job inside the business. The goal was to build a company capable of doing those things excellently. If someone else steps into a role and does it better than you did, that is not a knock on you. It is a reflection of the quality of what you built and the talent you attracted.  And if a future buyer takes over and pushes the business into places you never could, the employees benefit, the community benefits, and the legacy of what you built continues to grow. That is a position of strength, not weakness.  Don't always let it offend you. But maybe sometimes let it offend you just enough to push you forward.  Key Topics Covered:  * The Quote That Stings: Why "let it offend you" is worth sitting with for a moment. * The Client List Conversation: What a fellow financial planner said that William has never forgotten. * Ego and the Exit: Why letting go of day to day roles carries a personal cost that rarely gets acknowledged. * The Reframe: Why someone doing your job better than you is a compliment, not a criticism. * Building vs. Doing: Why the measure of a great business owner is what they built, not what they did personally. * Legacy and Strength: Why a buyer taking the business further than you could is the ultimate validation. If you have ever felt a twinge of discomfort at the idea of someone else doing what you do better than you do it, this episode will help you see that feeling very differently.   ➡️ Join the Conversation: https://portusadvisors.com [https://portusadvisors.com] ➡️ Portus Facebook Page: https://www.facebook.com/profile.php?id=61572848737086 [https://www.facebook.com/profile.php?id=61572848737086] ➡️ Portus LinkedIn Page: https://www.linkedin.com/company/portus-wealth-advisors/ [https://www.linkedin.com/company/portus-wealth-advisors/] ➡️ More Portus Perspectives: https://youtube.com/playlist?list=PLpVTaW63KqYSZ95HuYkvGAAwr1z4Br7Ol&si=7_qZ6fOTmfRWHDUp [https://youtube.com/playlist?list=PLpVTaW63KqYSZ95HuYkvGAAwr1z4Br7Ol&si=7_qZ6fOTmfRWHDUp]   ORIGINAL MEDIA SOURCE(S): William Bissett: Why Someone Else Might Do Better With Your Business | Portus Perspectives Originally Recorded on July 9th, 2026 Portus Perspectives: Episode 30   #BusinessExit #ExitStrategy #Leadership #Ego #BusinessOwner #Entrepreneurship #WealthManagement #PortusPerspectives #PortusWealth #Mindset #BusinessGrowth #Delegation #SuccessionPlanning #LettingGo #BusinessLegacy

Teach and Let Go: A Leadership Lesson From a Dead Car Battery | Portus Perspectives

In this installment of the Portus Perspectives series, William opens with a classic summer scene. Back from the beach, car unpacked, and a dead battery waiting in the driveway.  His son's car, 80,000 miles on it, had died before they left for the trip. So the moment they got home, William and his 16 year old son went back outside and William walked him through jumping a car for the first time. Red to red, black to black, start the good car, start the bad car. After a little engine revving it fired right up. William told him to drive around for 10 or 15 minutes to charge the battery, with one very specific instruction for a kid driving a manual. Don't stall.  He came back fine. Next morning the car wouldn't start again.  This time William was on a phone call and didn't want to get off. So he handed it back to his son, and he jumped it himself.  That moment, watching his son handle something he had only learned the day before, is what this episode is really about. His son wants to grow up. He wants to develop the skills and capability to be an adult. And the only way that happens is if William teaches him and then gets out of the way.  The same principle applies directly to the people in your business. Most employees want to learn, grow, take on more responsibility, and ultimately earn more as a result. But business owners hold them back, not out of malice, but because it is genuinely easier to do something yourself than to teach it and then let someone else run with it.  The hard part isn't the teaching. It's the letting go. But once you do, the return is enormous. You stop doing the things you never wanted to do in the first place, your team develops real capability, and the business grows because the people inside it are growing too.  Next time something needs to get done in your business, ask yourself whether this is a jump the car moment. Teach it. Let go. And watch what happens.  Key Topics Covered:  * The Dead Battery Story: A summer homecoming and a first lesson in jumping a car. * Teaching the Skill: Why walking someone through it once is only half the job. * Letting Go: Why the second time, when you step back and let them do it alone, is where the real growth happens. * The Employee Parallel: Why most people in your business want exactly what William's son wants, to grow and develop real capability. * Why We Hold People Back: It's easier to do it yourself, until it isn't. * The Business Growth Connection: What happens when the people around you start replacing you in the things you never wanted to do anyway. If you are still doing things in your business that someone else could and should be doing, this episode will give you the nudge you need to start letting go.   ➡️ Join the Conversation: https://portusadvisors.com [https://portusadvisors.com] ➡️ Portus Facebook Page: https://www.facebook.com/profile.php?id=61572848737086 [https://www.facebook.com/profile.php?id=61572848737086] ➡️ Portus LinkedIn Page: https://www.linkedin.com/company/portus-wealth-advisors/ [https://www.linkedin.com/company/portus-wealth-advisors/] ➡️ More Portus Perspectives: https://youtube.com/playlist?list=PLpVTaW63KqYSZ95HuYkvGAAwr1z4Br7Ol&si=7_qZ6fOTmfRWHDUp [https://youtube.com/playlist?list=PLpVTaW63KqYSZ95HuYkvGAAwr1z4Br7Ol&si=7_qZ6fOTmfRWHDUp]   ORIGINAL MEDIA SOURCE(S): William Bissett: Teach and Let Go: A Leadership Lesson From a Dead Car Battery | Portus Perspectives Originally Recorded on July 1, 2026 Portus Perspectives: Episode 29   #Leadership #BusinessOwner #Entrepreneurship #TeamDevelopment #Delegation #BusinessGrowth #SmallBusiness #WealthManagement #PortusPerspectives #PortusWealth #Scaling #EmployeeDevelopment #BusinessStrategy #Mindset #WorkLifeBalance