When you think of Wealth Management, of course financial is what comes to mind. This is certainly a large part of a successful wealth management plan. We believe in the CERTIFIED FINANCIAL PLANNER process. As such, we dig down with each of our clients to understand your Financial Goals and Objectives, Retirement Plans, Investment Management needs, Estate Planning needs and desires, Tax Planning strategies, and Risk Management (insurance) needs.
At the Genesis of this component of our Whealth plans, we need to understand exactly how much risk you are comfortable with and what risk is necessary in order for you to accomplish your goals. This is the artistic part of the financial component. Essentially, we help you to prioritize what is absolutely the most important goals and wishes. From there, the answers really speak for themselves.
After understanding where you stand financially and what you need, we then move onto our clients wellness needs. This is just as important as the financial analysis. What are your hobbies? What role does exercise & diet play in your life? What does your family history look like?
Being able financially to retire or sell your business is great. Being ready for what the next phase of life brings your way is absolutely just as important.
Understanding what lifestyle you want to live in that next journey also takes some work. If you love golf, staying strong is critical to continue playing as long as you would like. Don’t want knee replacements, hip replacements, etc, strengthening those areas now can help prolong or maybe eliminate those procedures. Enjoy socializing? Staying mentally sharp keeps you motivated to maintain your social ways.
So, you’ve determined that you have the financial resources to retire and sell your business if you own it. You’ve identified the lifestyle you want to live and the work it will take to actually live your best life. Now, what. What role does identity play in this Whealth Plan?
You’ve spent the last few decades (at least) working for your career. Whether you’re a professional athlete, owner of a software corporation, or founder of a construction company, your identity has become synonymous with that career. When you set your alarm before going to bed, what is driving you to wake up at that time? When you wake up to that alarm, what’s motivating you to jump out of bed? Retirement is a great time in your life, if you plan right. Considering your identity and how it will evolve in retirement is critical. We have seen business owners and executives, athletes and key employees retire and celebrate those first few months and years; only to find themselves moving from one day to the next without much inspiration.
This is why working on your identity and how it will evolve and change along with your lifestyle is so critical.
Alongside of your identity, is your purpose. What will you aim for in order to keep you setting your alarm at night and jumping out of bed the next morning? What will keep you fulfilled and desiring more once your days at the office are behind you?
Who will challenge you to keep challenging yourself to set new goals and to achieve new milestones?
Trying to find a job when you are unemployed is not very easy, right? You look much more desirable to the next company if you’re currently valuable to the company you want to leave. Well, trying to find purpose when you feel like you have lost it is just as challenging as finding work while unemployed.
So, we work with our clients well in advance of those days to ensure you’ve not only considered your purpose in the future, but planned for it.