Shore Up Your Fundamentals, then Look for Opportunity
This charitable remainder trusts episode is drawn from John’s appearance on the Joe Robert Show. John and Joe’s wide-ranging conversation covered a lot of territory. Topics they covered included the fundamentals of financial planning for individuals and entrepreneurs of all income levels. Also, they discuss the Blueprinting process, and the opportunities that exist in with charitable remainder trusts and our current economy.
John is the author of 5 Ways Your Wealth is Under Attack and It’s Your Wealth – Keep It.” He has lectured extensively on financial planning and is a seven-year recipient of the Five StarSM Wealth Manager Award.
Don’t miss these key points:
- Your first priority is to design a financial strategy, then learn about charitable remainder trusts and other financial products. (This is not the way most financial planners do it.)
- Each financial plan should: reduce taxes now and in the future, reduce risk, reduce fees and costs, ensure your lifestyle expenses are in proportion to your income, increase your savings rate, and provide maximum protection.
- The overarching goal is to grow your wealth over time. This is so you can enjoy it now and in retirement—and still pass it to your heirs.
- Our current economic climate provides a chance to rethink your entire plan, redo your budget, restructure your debt, get your defenses lined up, hunker down your asset allocations, and get your liquidity right.
- Right now and in the near future opportunities will arise such as real estate investment and entrepreneurship in various industries. If you have enough liquidity, you can take advantage of the moment.
- Financial planning is for everyone—even for those who work on Wall Street—because you can’t know everything.
- At Smallwood Wealth, we don’t have a minimum wealth requirement for our clients. We work with people that have a future.
You’ll find many other great resources on our website, such as 19 Sources of Retirement Income, which offers ways to increase your existing retirement income. You’ll also see links to my book 5 Ways Your Wealth is Under Attack and my newest book, It’s Your Wealth, Keep It.
If you are new to Smallwood Wealth, schedule a Wealth Curve Conversation by clicking this link. You can also connect with us on social media, or call us at (800) 797-1000. Set up a free, no-obligation 30-minute phone call with a qualified advisor to design the right plan for you in this economic moment.