Broker Check

Late Career Goals

More Efficiency and Lifestyle

Although you're making more money than you ever have, you're running out of time to be able to bounce back from any more financial errors.  Unfortunately, so many families have each piece of their financial life operating independently rather than working together to create more efficiency.  It is imperative that you start working with an advisor that can help you bring all the pieces together.


You should find an advisor that is well-versed in the concepts you'll need to get a grasp on to attain the efficiency that may save you hundreds of thousands of dollars in lost opportunity costs over your lifetime.


Major Capital Purchases

At this point you've probably already made several major capital purchases, such as a home, cars, vacations, etc.  Now, in your mind, it's a race to see if you can finish paying everything off before retirement.  Unfortunately, there will be major expenses throughout your lifetime: a new roof when you weren't expecting it, more cars and vacations - and on and on and on...

There are some very important financial concepts that you need to get your head around now because you're running out of time.

Before You Buy

Before You Buy

Opportunity Cost is the cost of what those dollars you spent could have been worth in the future had you kept them and invested them.

Watch Video
Major Capital Purchases

Major Capital Purchases

Knowing the most efficient way to pay for Major Capital Purchases when they come can not only save you money, but relieve the pressure these expenses bring with them.

Watch Video
Owning a Home

Owning a Home

We've been told that owning a home is one of the largest and best investments that we will ever make. If that's not true, when would you want to know about it?

Watch Video

Retirement

The kids are finished with college and out of the house.  Retirement now has your full attention and it's coming fast.  You're worried that you probably haven't saved enough to have the kind of retirement lifestyle that you dreamed of.  Having a plan and understanding the strategies that will result in a successful retirement are the keys.

Personal Economic Model

Personal Economic Model

A great visualization of what is happening in your financial life and what must happen for you to have the retirement you want.

Watch Video
Qualified Plans

Qualified Plans

What percentage of your 401k or IRA does the IRS own and how much is left over for you?

Watch Video
Income Allocation

Income Allocation

When you stop working and the paychecks no longer arrive regularly, how will you replace them?

Watch Video
Tax-Free Retirement

Tax-Free Retirement

Is a tax-free retirement really possible? The answer to that question is, largely, yes.

Learn more
Social Security: By the Numbers

Social Security: By the Numbers

Here are five facts about Social Security that might surprise you.

Learn How to Get Retirement Ready

Claim your FREE Income Allocation eBook



Financial Planning

Now that you're on the home stretch to retirement, having a financial plan is no longer a luxury you can afford to be without. If you have been putting this off all these years, we urge you in the strongest possible terms to give us a call today and put a plan in motion.  Time is of the essence!

Begin With the End in Mind

Begin With the End in Mind

The journey isn't just to the top of the mountain. Getting all the way back down safely is the real goal and the most difficult part. Were you aware that most fatalities occur on the downward trek rather than the climb? There are lessons to be learned here in planning your retirement.

Watch Video
Working With a Holistic Wealth Advisor

Working With a Holistic Wealth Advisor

There is really only one logical reason to work with a financial advisor. It is to achieve better outcomes for you and your family than you might have attained on your own, even after accounting for the financial advisor's fees for service.

Learn more

Legacy Planning

Many are the stories of family wealth lost. In the late 19th century, industrial tycoon Cornelius Vanderbilt amassed the equivalent of $100 billion in today’s dollars – but when 120 of his descendants met at a family gathering in 1973, there were no millionaires among them. His fortune eroded within two generations of his passing.1,2

Barbara Woolworth Hutton – daughter of the founder of E.F. Hutton & Company, heiress to the Woolworth’s five-and-dime empire – inherited $900 million in inflation-adjusted dollars but passed away nearly penniless (her reputed net worth at death was $3,500).2,3

Why do stories like these happen? Why, as the Wall Street Journal notes, does an average of 70% of family wealth slip away in the hands of the next generation, and an average of 90% of it in the hands of the generation thereafter? And why do only 10-15% of family businesses survive into a third generation?2,4

Lost family wealth can be linked to economic, medical and psychological factors, even changes in an industry or simple fate. Yet inherited wealth may slip away due to a far less dramatic reason.

What’s more valuable, money or knowledge? Having money is one thing; knowing how to make and keep it is another. Business owners naturally value control, but at times they make the mistake of valuing it too much – being in control becomes more of a priority than sharing practical knowledge, ideas or a financial stake with the next generation. Or, maybe there simply isn’t enough time in a business owner’s 60-hour workweek to convey the know-how or determine an outcome that makes sense for two generations. A good succession planner can help a family business deal with these concerns.

As a long-term direction is set for the family business, one should also be set for family money. Much has been written about baby boomers being on the receiving end of the greatest generational wealth transfer in history – a total of roughly $7.6 trillion, according to the Wall Street Journal – but so far, young boomers are only saving about $0.50 of each $1 they inherit. If adult children grow up with a lot of money, they may also easily slip into a habit of spending beyond their means, or acting on entrepreneurial whims without the knowledge or boots-on-the-ground business acumen of mom and dad. According to a 2015 Caring.com survey, just 56% of American parents have a will or living trust. Wills are a necessity and trusts are useful as well, especially when wealth stands a chance of going to minors.2,5

Vision matters. When family members agree about the value and purpose of family wealth – what wealth means to them, what it should accomplish, how it should be maintained and grown for the future – that shared vision can be expressed in a coherent legacy plan, which can serve as a kind of compass.

After all, estate planning encompasses much more than strategies for wealth transfer, tax deferral and legal tax avoidance. It is also about conveying knowledge – and values. In the long run, nothing may help family wealth more.

  1. forbes.com/sites/phildemuth/2014/07/07/the-family-is-a-machine-for-destroying-wealth/ [7/7/14]
  2. tinyurl.com/qblyk6v [3/8/13]
  3. investorplace.com/2013/08/woolworths-heiress-outspent-a-near-billion-dollar-fortune-died-penniless/#.Us8-D7SLXs8 [8/2/13]
  4. nfib.com/article/4-family-business-survival-tips-64918/ [3/17/14]
  5. caring.com/about/news-room/american-parents-wills.html [4/22/15]

Charitable Gifting

As you near retirement your first concern when it comes to your money is having adequate income and not running out of money.  But most people also have causes that they deeply believe in that they would like to benefit financially.  You don't have to be wealthy to be able to systematically advance the ideals that you believe strongly in.  What you need mainly is a little knowledge.

Learn more

Have a Question?

Thank you!
Oops!

Free Retirement Guide

It's never too soon to start preparing for retirement. But do you know what to look out for? Download our free ebook, "Retire Happy: A Simple Guide to Your Next Big Adventure."



Thank you! Oops!