My Philosophy

This is a question I frequently ask my clients. Families today face major challenges in reaching their full financial potential. Over the years, economic conditions have vastly changed the rules; meaning conventional financial advice is no longer working. I believe it’s critical for clients to understand how money really works.

Many people don’t realize that the accumulation and distribution of wealth are very different phases. Before you retire, it’s critical to determine how you will maintain your assets in a tax-efficient manner and without taking unnecessary risks. Through my comprehensive process and implementation of Your Circle of Wealth philosophy, I believe we can help you better understand how money works and determine opportunities for building your wealth without undue risk.

When planning for retirement, I believe there is more value in avoiding losses than occasionally picking winners. Through my wealth management strategies and financial planning process, I aim to limit the amount of risk, find opportunities to legally mitigate or eliminate certain taxes, and help you create a steady income stream.

According to conventional wisdom, in order to build wealth, you should focus on earning higher rates of return (which often requires more risk), save money by reducing your current lifestyle, and maximize your contributions to Qualified Retirement Plans. However, ‘conventional wisdom’ doesn’t often result in an independent retirement or accumulated wealth.

While higher returns can increase your wealth, focusing on the rate of return won’t always produce the desired result. By focusing entirely on rates of return, you could be taking unnecessary risk. This can be particularly detrimental for those approaching and planning for retirement.

4 MUST-KNOW ANSWERS

If you are serious about your financial future, you should know the answers to these four critical financial questions:

1. What rate of return do you have to earn on your savings and investment dollars to be able to retire at your current standard of living and have your money last throughout your life expectancy?
2. How much do you need to save on a monthly or annual basis to be able to retire at your current standard of living and help ensure your money lasts beyond your life expectancy?
3. Doing what you are currently doing, how long will you have to work to be able to retire and live your current lifestyle throughout your life expectancy?
4. If you don’t do anything different than you are doing today, how much will you have to reduce your standard of living at retirement for your money to last beyond your life expectancy?