Income Generation

The 5 Wealth Management Issues

At this stage in your financial life, hopefully you have accumulated some investments that you will now be able to use for income. It's important to continue to manage these investments wisely, so you can maintain a fulfilling and secure retirement.

Our retirement philosophy is one of transitioning from a life of success to one of significance. If you are no longer working for money, we can help you translate your assets into income so you are free to devote your time to your passions.

Over the years, we have identified five primary planning areas that are crucial for long-term financial success. Take a look at the list below and consider what parts of your financial life are in need of attention.


  1. Asset Accumulation and Investment Planning
  • Asset allocation and portfolio management
    • When you choose an investment, it should fit your particular needs. Do you want a shorter or longer term horizon? What risks are you willing to tolerate at this stage of your life? What balance of growth and income do you need? These are the sort of questions we can help you answer, to craft a portfolio that matches your goals.
  • Investment tax strategies
    • Tax penalties on investments can be costly if you aren't careful. Knowing the difference between the variety of investment accounts available and utilizing them wisely will help to shield your money from paying more taxes than are necessary.

  1. Risk Management and Insurance Planning
  • Life insurance
    • Have you updated your insurance coverage recently? If your current policy is an old one, it might be time to reevaluate. We can help you identify what life changes might necessitate a policy change, as well as determining the level of coverage that is appropriate for your new stage of life.
  • Disability and long-term care
    • As with life insurance, it can pay to prepare for the worst. Long-term care insurance allows you to afford care in the event that you become unable to perform basic tasks of daily living, or are stricken by a cognitive impairment such as Alzheimer's disease.

  1. Retirement Planning
  • Income planning (transitioning from accumulation to distribution)
    • Now is the time to get serious about retirement. By this point, you might have a combination of IRA investments, a 401(k)/pension plan, as well as other assets. It's important to have a clear picture of how much you have have acquired, when you plan to retire, and how much you'll need to make that happen. We can help you manage your investments, and translate your assets into income.
  • Social Security strategies
    • Optimizing your Social Security benefit may be more difficult than it seems. Most Americans are unaware of the combinations of the potential strategies available, particularly for married couples. Taking into account your specific work and retirement timeline, we can help calculate the most advantageous age to begin taking your Social Security benefits.

  1. Education and Family Support
  • College savings and education funding
    • If you have grandkids and intend to contribute to their educations, you know that planning ahead for their college expenses can seem daunting. It's wise to integrate your assistance plans with your children's tax situation, financial aid eligibility, and tax credits to ensure that your savings achieve maximum benefit.
  • Elder care and disability planning
    • Does your family know your plans and/or wishes in the event that your health begins to decline? Having the hard conversations well in advance of any tragedy allows your family to have a plan in place that not only respects your wishes, but can make end-of-life or long-term care decisions much less stressful.

  1. Distribution of Estate
  • Document review, titling and beneficiary designations
    • In the event of your passing, having a will or living trust in place makes the distribution of your estate much smoother for your loved ones. Neglecting to leave updated beneficiary designations for your assets and accounts can lead to uncertainty as well as stressful and costly delays in carrying out your final wishes.
  • Executor and trustee selection
    • Have you selected an executor for your will or a suitable administrator for your trust? Don't overlook this important step, as your estate can be faced with fees if a professional has to fill the role. Choosing an executor/trustee who isn't quite up to the task can lead to delays or tax issues, so think carefully about who might be the most competent choice.
Check the background of this financial professional on FINRA's BrokerCheck
Check the background of this financial professional on FINRA's BrokerCheck