#risk-tolerance

#risk-tolerance

It's a classic fight-or-flight response - with a billionaire's twist. A proposed wealth tax in California prompted the state's resident billionaires to consider whether they wanted to continue their residency if the one-time 5% tax is approved. Their reactions, said CFP professional Don Hilario, who works with financial planning clients in California, boil down to risk tolerance. The tax, as proposed, would only apply to assets in the state during the 2026 tax year.