Complex Financial Planning

Share Post: facebook Created with Sketch. twitter Created with Sketch. linkedin Created with Sketch. mail Created with Sketch. print Created with Sketch.

Today’s society is one of instant gratification. We are continuously connected.  We have drugs to accomplish many things when it comes to our health and it may be monitored in real time from our smart-watch or smart phone. We may jump on a jet and be anywhere in the country in a matter of hours. Yes, we even have the technology to prepare a Wealth Plan, quickly. Is instantaneous necessarily the best? This is a list of the most asked Financial Planning Questions:

  1. Do we have enough money to last during our lifetimes while maintaining our standard of living?
  2. When may I stop working for a paycheck?
  3. Do I have enough assets to leave a legacy for our children and grandchildren?
    1. If yes, how much and when is the appropriate time to give it away?
  4. Is my estate structured properly to minimize estate and income tax liabilities?

The first thing to understand about Wealth Planning is that it is a lifelong process, which means it is never complete. There is no instant gratification. You are on a journey and it won’t necessarily end at your death. Your plan will update every day based upon changes in:

  • Employment
  • Asset values
  • Circumstances
  • Desires

A plan to review cash-flow may be relatively simple. However, depending upon the ultimate objectives, financial plans may be very complex. They may also take a significant amount of time to work to their maximum effectiveness, especially when it comes to estate planning. There are annual and lifetime limitations on what may be transferred. It is certainly not instantaneous. However, there is confidence in knowing the plan is in process and working toward your ultimate objective.

In preparation of your Golden Years, do you want to be monitoring changes in the law and figuring out what type of taxable income to take and when? Or determining the amount and timing of transferring assets to heirs including the optimal structure to use for the transfer? Are your heirs ready to receive a potentially life altering, lump-sum of assets? How much is enough but not so much that your heirs accomplish not much? In the world of Complex Financial Planning, our firm is here to help. Call your Wealth Advisor or a member of the Wealth Enhancement group today to start planning process and help you answer the most asked Financial Planning Questions.

Share:
facebook Created with Sketch. twitter Created with Sketch. linkedin Created with Sketch. mail Created with Sketch. print Created with Sketch.
Share Post: facebook Created with Sketch. twitter Created with Sketch. linkedin Created with Sketch. mail Created with Sketch. print Created with Sketch.

RECENT POSTS

Your Silicon Valley Bank Questions Answered

You likely have heard about the recent Silicon Valley Bank (SVB) collapse and probably have questions. Here, we provide you with unbiased answers to your questions.

Thinking About Retiring Early? 8 Things to Consider First

Tom Fridrich, JD, CLU, ChFC®, Senior Wealth Planner We’ve all asked ourselves whether it’s too early to retire (usually after a particularly challenging commute or dealing with a difficult client).  You may have even gone so far as to take a sneak peek at your account statements …

4 Tips to Take Your 401(k) to the Next Level

Matt Kory, Vice President, Retirement Programs As a retirement income vehicle, the 401(k) is second in popularity only to Social Security – and as CNBC reported in 2019 the number of 401(k) millionaires is at an all-time high. But is a million dollars even enough for your retirement needs? 

Should I Open a Traditional or Roth IRA?

Multiple retirement savings vehicles are available but having options can be overwhelming. Each option comes with different rules leading to a variance of outcomes in the short-term and long-term. It’s not that dissimilar to choosing what to eat.

1 2 3 92 93 94

Get in Touch

In just 15 minutes we can get to know your situation, then connect you with an advisor committed to helping you pursue true wealth.

Schedule a Consultation