Wealth Accumulation

The 5 Wealth Management Issues

If you are in your 30's to mid-50's, you are likely in the process of building up your financial base, with the expectation that you will be able to accomplish the financial portion of your life goals. It can be tempting to postpone getting serious about investments, but the sooner you start building toward your goal, the better off you will be in the long run.

Over the years, we have identified five primary planning areas that are crucial for long-term savings and investment. 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
    • Unfortunately, accidents can happen to anybody, and it's invaluable to have the peace of mind of knowing that your family will be provided for if something unexpected happens to you. We can help you identify whether you need a term or a permanent policy, as well as determine the level of coverage that is appropriate for your family.
  • Disability and long-term care
    • As with life insurance, it can pay to prepare for the worst. If you become medically unable to work, disability insurance can step in and replace your lost income until you become well again or are able to collect Social Security. Long-term care insurance allows you to afford care in the event that you become unable to perform basic tasks of daily living.

  1. Retirement Planning
  • Income planning (transitioning from accumulation to distribution)
    • Now is the time to get serious about retirement. As you approach your middle age, you should maintain a combination of IRA investments and a 401(k)/pension plan, as well as develop good savings habits in general. It's important to have a clear picture of how much you have acquired, when you plan to retire, and how much you'll need to make that happen. We can help you manage and choose your investments, and calculate the optimal way to reach your retirement goals.

  1. Education and Family Support
  • College savings and education funding
    • If you have kids, you know that planning ahead for their college expenses can seem daunting. A 529 college savings plan can provide a tax-advantaged investment that will grow as your child grows -- and the earlier you start, the better.
  • Elder care and disability planning
    • Do you know your parents' plans and/or wishes in the event that their health declines in their later years? Having the hard conversations well in advance of any tragedy allows your family to have a plan in place that not only respects your loved ones' 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 clearly-designated beneficiaries for your assets and accounts can lead to uncertainty as well as stressful and costly delays in carrying out your final wishes. If you intend to name your minor or young adult children as beneficiaries, consider establishing a trust in their name that will manage their ability to access their inheritance. Having sudden, unlimited access to a sum of money can be overwhelming for anybody, and even the most responsible young person might not be equipped to handle what you leave them.
  • Executor and trustee selection
    • Have you selected an executor for your will? 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 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.