Wealth Management Is The Key To Effective Retirement Planning

Perhaps the biggest reason for the importance of Wealth Management is the issue of retirement.Therefore, wealth management and retirement planning have never been as important as they are today. The Social Security Board of Trustees issued a report in 2016‘, that states that Social Security’s costs will exceed the program’s total income in 2020. This is due mainly to the change in demographic trends: From 1974 to 2008, there were 3.2 to 3.4 workers per beneficiary, a ratio that is expected to fall to 2.2 by 2035. So the need to ensure you have your retirement taken care of, through effective planning, is critical for your financial well being.

Provident Legacy helps you solve four of the biggest problems of retirement

How do you make sure you have enough to retire?

The first thing you want to do is review your financial health, something we can very easily do for you. In your review, you will want to reassess all your assets, your liabilities and your current net worth. From that initial assessment, we can then work with you to create a plan that sees your net value grow year on year.

One of the key aspects of your initial review is to ensure that your current income not only does not exceed your current expenses but what future costs can you expect and will your current income level cover them? Why is that important? Well, we have all experienced at some time or another, life throwing a curve ball at us from out of nowhere. These can be falling ill for an extended period of time, employment lay off, extra expenses for family issues or market downturns that affect your IRA or 401(k). Whatever it is that life throws at us from time to time having a secure nest egg in place that will cover these occurrences will help you cope with the challenges as life goes on.

Wealth Management Is Not Just About Retirement Planning

Wealth management isn’t just about making financial plans for your retirement. At its most basic, wealth management is a matter of realizing your priorities.

If you have spent time creating a significant amount of wealth in the first place, you more than likely did so for a particular reason. You may have done so to ensure financial security and stability. It may have been to fund a business venture. Maybe it was to provide a particular lifestyle for your family.

Wealth management is about ensuring you get the right investment and management advice, along with tax guidance and financial counsel, all for the purpose of making your financial visions and goals come into existence.

Provident Legacy Financial exists to bring freedom and peace of mind to high-net worth professionals and business owners.

We achieve this by adding value in four key areas:

1. Reduce or eliminate taxes. In general, we can cut the income tax bill by 50% for the majority of our clients and totally eliminate estate taxes.

2. Reduce investment risk, while maximizing guaranteed income regardless of stock market, inflation or interest-rate fluctuations.

3. Create assets and protect them from lawsuits, liens and judgments.

4. Once taxes are cut, income guaranteed, and assets protected, we can then help you build lasting legacies for your families and/or favorite charities with peace of mind.

Matthew Hoffman – Wealth Management & Retirement Planning Advisor

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Matt is a member of the National Ethics Association