Investment Planning

The Wealth Accumulation Strategy: Creating a Comprehensive Savings Strategy

It’s easy to get complacent in life and have an anemic result in planning for retirement. For a family who wants to build wealth, diversify income sources and really become financially independent, developing a comprehensive savings strategy involves setting clear goals, evaluating your financial situation, and considering how different investment strategies will impact their future. As comprehensive financial planners, it’s not just about what we can provide. We are happy to coach, discuss and plan with you for a variety of investment sources from securities, real estate and business opportunities to diversify your income and help you reach your goals.

Building Separate Time-Segmented Investment Accounts

One effective strategy is to build separate, time-segmented investment accounts. Identifying different stages in life and the timing of when those funds are needed can simplify how aggressive to be in your investment choices. Whether it’s saving for a down payment on real estate or saving for retirement, assets and strategies should be different.

Early Cash Access Programs

Many people want to have access to significant funds prior to retirement age. With penalties to pull money out of retirement accounts early, establishing early cash access can open up the ability to act on significant opportunities that present themselves during your working years.

Tax Planning

Tax reduction strategies can be a significant leg up with respect to how much money you have to invest or spend. Every dollar you don’t send to the government is a dollar that increases your options. We can help you reduce your tax burden and maximize your opportunities by integrating tax deductions and write-offs so you can focus on building wealth faster.

Tax-Exempt Strategies

Tax-exempt strategies can play a crucial role in your overall savings plan. There are several tax-exempt asset classes that you can use to minimize your future tax liability and maximize your after-tax spending. This approach can be particularly effective when combined with other financial planning needs in a comprehensive planning approach.

IRA/401k Consolidation

Turnkey 401k providers rarely proactively manage their client relationships. They also limit investment options to an approved list, limiting your access to the full market of options. If you have separated from employment and want the fees you pay to go to a financial advisor who is actually helping you, a conversation should be on your priority list. Consolidating your IRA and 401k accounts can simplify your financial planning and provide a clearer picture of your savings and allow for a more comprehensive approach to your long-term financial success.

Family Safeguarding with Life Insurance Planning

Life insurance planning is another critical component of a comprehensive financial strategy. Protecting your family's future with adequate life insurance coverage ensures that your family will be financially ok even if something unexpected happens to you. Life insurance proceeds are used to replace your income to ensure bills are paid and kids are taken care of until they can be on their own. Even later in life, losing a pension or social security can cause a financial hardship. In addition, proceeds can be used to convert taxable assets into tax free assets that can help with the tax increased tax burden caused by no longer filing a joint tax return. Don’t rely on GoFundMe for your family’s financial security, take steps to ensure a tragic event doesn’t also result in financial failure.

Budgeting Consultation

Effective budgeting is key to achieving your savings goals. Our budgeting consultation services can help you create a realistic plan that accounts for your income, expenses, and savings goals. We can help chart out a plan to tackle debt and to increase savings rates.