Infomarine On-Line Maritime News - Al Pacino once went broke after blowing more than $50 million on cars, gadgets and other luxuries

That very notion is a likely culprit behind Pacino ultimately going broke and losing “all his money.” But it’s an incredibly common phenomenon that can easily hit any American.

Protecting the wealth you accumulate requires discipline and mindfulness.

If you’re a part of the high-net-worth club but don’t have an advisor, you could consider working with the tax experts and professional advisors at Range. They offer white-glove financial services to high-income households.

Once your equity enters this ballpark, one of the biggest financial pain points can be asset under management (AUM) fees. These fees mean that portfolio managers take a percentage of the value, typically between 0.5% and 2%, of your managed assets — so their fees scale with your wealth.

Range offers 0% AUM fees for advisory services and a flat-fee structure so that you can preserve more of your wealth. What’s more, they also offer an all-in-one solution for everything from alternative asset management to taxes — all of which is informed by modern AI solutions, but backed by a team of certified financial professionals.

And the best part? You can book a complimentary demo to see if Range can meet your comprehensive financial needs.

Simplify your finances

In his memoir, Pacino expressed that from early on in his career, he simply didn’t understand how money worked. “It was a language I just didn’t speak,” he admitted.

And he’s certainly not alone in that sentiment. If your finances are scattered across multiple accounts for saving, investing, lending, and spending, it’s easy to get confused by it all. With the myriad of tools and technologies now on the market, your money can quickly feel like a foreign language that you can’t comprehend. According to a survey by GuideVine, 55% of Americans feel lost when it comes to their long-term financial planning.

It doesn’t need to be that way. If managing a budget feels overwhelming to you, apps like Rocket Money can simplify the process.

Rocket Money tracks and categorizes your expenses, providing a clear view of your cash, credit, and investments in one place. It can even uncover forgotten subscriptions, helping you cut unnecessary costs and save potentially hundreds annually.

For a small fee, the app can also negotiate lower rates on your monthly bills, making it a valuable tool for keeping your finances on track.

Another option is a service like Wealthfront Invest, that allows you to put your investing on autopilot.

Their easy "set it and forget it" approach means your money is professionally managed and automatically rebalanced, allowing your wealth to grow steadily over time.

The platform can build a personalized portfolio of low-cost index funds from up to 17 global asset classes tailored to your risk profile.

Whether you're saving for retirement, a home or building generational wealth, Wealthfront Invest's low-cost, automated investing platform can help you achieve your financial goals.

Plus, you can get a $50 bonus if you fund a taxable investment account today.