What Are the 8 Wealth Management Issues?
 

Whether your wealth (business and/or personal) is valued at $ 10,000 or
$ 10,000,000, it is important that you are taking steps to actively address
the issues that managing wealth presents.   We have found that there are
8 Wealth Manangement Issues(SM) that are most important to our clients
and their families.   Each of these issues are interrelated and, in fact, acts like
a balancing scale.   If you make an adjustment to one issue, it affects the
others.  That is why it is critical that you have one Rock Solid Advisor who is knowledgeable about your complete financial picture, including your
tax situation, so you can be given appropriate advice and recommendations.   Without the knowledge of all the 8 Wealth Management Issues, you may find your finances out of balance.

Below are the 8 Wealth Management Issues.  

We will work closely together using the 8 Wealth Management Issues document to identify and discuss the wealth management issues you are currently facing.   As you read through the information, make notes of anything you would like to discuss with me.   When you are ready, call us for an appointment.   We will work closely together using the 8 Wealth Managment Issues document to identify and discuss the issues you are currently facing.   As your Rock Solid Advisor, I will help you identify the issues you have already adequately covered and those issues that need more attention and are most important to you.   I will also work with you to create an action plan that addresses these issues as you see fit.   And, because life is always evolving, we will meet periodically to discuss your situation and monitor your position within each of the 8 Wealth Management Issues.  

Investment Management

Together, we can create an investment strategy that is designed just for you with your unique goals and needs in mind. I will build an investment plan that considers your investment goals, comfort level, expectations, and the effect of taxes on your portfolio. Because investment management is something that should be adjusted as your goals evolve and your portfolio changes, I will work with you on an ongoing basis to monitor your portfolio and rebalance it as needed.

Retirement Planning

People entering retirement are facing new concerns. As healthcare is improving and life expectancies rise, you are likely to live longer during retirement than past generations. Unlike your parents who likely had their retirement funded mostly with guarantees made by their employers and the government, the assets you have accumulated may be your primary source of cash flow. I can partner with you to create a plan considering the level of assets needed to fund your vision of retirement including likely income needs, potential tax implications and risks that can stand in the way of realizing your vision.

Education Planning

The available education planning choices can be confusing. I can show you how your savings will affect your child’s or grandchild’s ability to qualify for financial aid, as well as the implications for your income, gift and estate tax situation. I can also help you identify how much money you need to send your children or grandchildren to college, determine how much you need to save, and how this dedicated investment fits with your overall investment management plan.

Legacy Planning

A legacy plan ensures that what you want to happen will happen at the time of your passing. Without a good plan, the government may be in a position of dividing your assets between members of your family and may not make the same decisions you would. Also, your family may be forced to give up a substantial portion of their inheritance to taxes, causing significant financial burden during an emotionally devastating time. I can help you create a plan that minimizes the estate taxes that may be incurred and maximizing the amount of money going to your family so they don’t have to guess what you would have wanted.

Cash Flow & Debt Management

Without a clear picture of what money is flowing in and out each month, it is impossible to make informed decisions with respect to the other wealth management issues that affect you. Your debt level and credit history are also important barometers of your financial health. Good debt management ensures you have credit when you need it, make wise borrowing decisions, and avoid disaster if you become overextended. We can identify where your cash is going each month and evaluate potential opportunities to improve your cash flow through tax strategies and debt management.

Family Risk Management

Even the best investment plans can crumble if you have not properly prepared for the unexpected – risks that exist for every family such as disability, death, or a long-term-care need. I can evaluate your current risk plans to determine if they are adequately meeting your needs at this stage of your life and as you plan for the future. I will make suggestions that not only address your risk management needs but also consider the tax implication of these changes.

Business Planning

As a business owner, you likely face daily challenges such as having enough cash available to take advantage of opportunities when they arise, using the business as a vehicle to save for your and possibly your employees’ retirement, and protecting your business from a potentially devastating financial loss. I can help you evaluate and implement strategies that not only protect your business, but also take advantage of opportunities that could improve the cash flow, tax situation, benefits, and bottom line of your business.

Special Situations Planning

Throughout your life, as you pursue your long-term goals, some expected and unexpected needs will come your way, whether it is planning for a wedding, taking a spur-of-the-moment dream vacation, deciding to buy a second home or facing unexpected expenses due to unforeseen events. I am here to help you with situations that don’t always fit nicely into the other wealth management issues and determine a path to monitor your tax situation and get you through whatever financial challenges and opportunities arise.