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Wealth Management

Many financial opportunities occur in each of our lives. How we address these opportunities determine the quality of our lives and the lives of our loved ones. The elements of wealth planning address areas that each person will face during their lifetimes. With proper planning and consistent monitoring, the effective execution of each element leads to successful, life-fulfilling results.

These Elements are identified as:

a. Cash management: More than just keeping a balanced checkbook, cash management includes preparing (and following) a budget, using credit wisely and sound income tax management.

b. Risk management: There is risk of loss of both life and property. Life insurance can be used to protect a family against the risk of a premature death. Disability insurance can protect against the loss of a person’s ability to earn a living. Property and casualty insurance can protect our worldly goods against accident and such perils as fire, flood, earthquake and theft.

c. Asset management: Developing an overall saving and diversified investment portfolio that is in harmony with our individual risk tolerances and wealth management. (Home purchases, education, real estate, and emergency reserves are some typical examples of accumulation related goals.)

d. Financial independence: It is important to take steps now to ensure that the economic freedom we seek becomes a reality.

e. Estate planning: Planning for the ultimate transfer of our assets to our heirs, charitable interests, or others, in an effective, tax-efficient manner.

f. Long Term Care: Living longer today necessitates planning for Long Term Care needs, such as Activities of Daily Living (ADLs) assisted living as well as nursing home care.