Wealth Management is the fashionable catchphrase for traditional comprehensive financial planning. What’s new is old, especially when it comes to your money. The five principles of Financial Planning include:
All insurance coverages are examined for suitability and maximum protection. From Automobile, Disability, Health, Life, Long Term Care, Personal Liability and many others, the transfer of risk through insurance represents one of the best methods to protect yourself and family from adverse life situations.
One of the glamour principles, investing utilizes proven asset allocation strategies, diversification, cost and tax minimization, all while managing the two most important concepts of managing risk with expected investment return.
Always a consideration on a Federal and State perspective, this principle can be properly managed via tax loss harvesting, employing multiple asset classes, the power of tax-deferral and keeping a keen eye on regulatory changes which may result in greater tax efficiency. The power of planning and implementation at it’s finest.
Pre-tax, post-tax, it needs to happen. Gone are the days of income security and a gold watch. From 401(k)’s, IRA’s (Roth & Traditional) and every investment vehicle in between, your retirement is in your hands. NEAM can help you prepare wisely for the myriad of retirement planning pitfalls, but mainly opportunities.
Everyone should have an ‘Estate Planning Package’ of Wills, Durable Power of Attorney and Health Care Directive. From here, Estate Planning can get complex – Fast. CRAT’s, CRUT’s, GRIT’s, GRAT’s, Revocable vs. Irrevocable, Donative Intent, Philanthropy, the choices are gratifying, if planned for properly.
For more than 30 years, NEAM has assisted clients, via the ‘DIME’ process, to ‘Create and Manage Wealth’. Will you be next?