The TrueWealth Plan starts with a detailed roadmap to achieve your financial goals. Whether you are on the road to financial independence or you are already there, a detailed plan outlining short, intermediate and long-term goals is essential to be the “rudder” of the investment portfolio. The planning process includes the following major steps:
While the TrueWealth Plan is the rudder of the ship, you need an experienced captain at the helm. Determining the appropriate risk profile, portfolio mix and individual investments are fundamental to long-term success.
The traditional corporate pension, where workers get a set amount sent to them through retirement, is disappearing. Only 13% of private-sector workers were participating in such a plan in 2014, according to the Employee Benefit Research Institute. In 1979, the rate was nearly triple that, at 38%. Source: USA Today, published Oct. 31, 2017.
As it becomes more apparent that our goals will be more than met, our focus shifts to the next generation. A proper plan is imperative to meet wealth transfer and philanthropic goals. We work closely with estate planning attorneys to ensure that your legacy goals are met.
Working with a qualified estate planning attorney is crucial to ensure you have the proper documents in place. We have recommendations for attorneys in our area or we can work with your attorney if you already have one. While we do not provide legal advice, we often sit in on the meetings with the attorneys and offer suggestions in regards to how you might be able to achieve your legacy goals. The attorney will draft the legal documents in order to implement these plans.
Once your documents are drafted and signed, we will ensure you have the proper titling and beneficiary designation on your investment accounts and other titled assets, if needed. The “funding” of your trust is critical to be sure your plan is implemented.
Your Estate Plan can help you achieve your legacy goals. Clients often have goals in one or more of these areas: