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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

1. Lifetime Income – pension replacement Businessman Brainstorming About Retirement Planning
We ensure clients have income in retirement no matter how long they live or markets act
2. Protecting Spouse Income
In the event of one of you dying, the surviving spouse could see a 40% decrease in their income (national average).
3. Reducing Stock Market Risk
DALBAR 2015 survey – average investor is taking approx. 50% risk of loss for an 20yr average return of 4.35%.  The “Buy & Hold” model is risky.
4. Providing Long-term care solutions
70% of couples age 65 will need Long Term Care Insurance in future.  Long term care naturally drains resource and can be costly to your children.
At Provident Legacy we make it our priority to help you solve these main four issues, through effective retirement planning.

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.


Key Benefits To Working With Provident Legacy

 
Services
Retirement Planning; Income Planning; Wealth Management; Asset Under Management; Life Insurance; Long term Care insurance
  
License
Registered Investment Advisor – Series 65 License 
  
Standard of Care Level
Fiduciary – highest standard in industry – Only Approx 15% advisors are fiduciary – Majority are held to a “suitability
Strategies
Tactical Money Management Strategies – this reduces risk.  Solution to typical “buy and hold” philosophy of most advisors/brokers
Memberships
Member – National Ethics Association,  Certified – “Wealth Preservation Planner”

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.

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