Welcome to the Wealth Curve Talk Podcast, in which John Smallwood, a certified financial planner, identifies key areas of pressure on your wealth and strategizes with you to reduce it.
In this episode, John continues his series on the Wealth Curve Blueprint. This time he discusses integrating your future liabilities into your wealth plan.
John is the author of 5 Ways Your Wealth is Under Attack. He has lectured at various educational institutions such as John Hopkins, Haas School of Business, UC Berkeley and UNC Chapel Hill. He has consecutively received the Five StarSM Wealth Manager Award since 2011, and is the former president and chairman of the Rotary Club of Red Bank Foundation.
John’s strength lies in his ability and commitment to continually improve the level and quality of the financial planning process. His macro view approach and dedication to his clients’ growth involves an evolving strategy that strives to meet the demands, desires, and needs of his clients in a continually changing economic environment.
John’s key points:
- Future liabilities are all of those things we want to do in the future like home improvements, kids’ bar mitzvahs & weddings, getting kids set up in a home, buying them cars, and so on.
- A lot of people expect they’ll pay for these things without actually planning how they will do so.
- We want you to move from the “We’ll figure it out” mindset to a “Let’s plan ahead. Let’s make the optimal decision” mindset.
- Look at all of your future liabilities and ask:
- “How well are they currently funded?”
- “How much money do I already have that could be allocated to these goals?”
- “What will be the impact on my financial plan?”
- The most important question to ask is, “How will these future liabilities impact my retirement?” If they’re going to hurt it, you might need to minimize some of those future liabilities.
Get your Wealth Curve Scorecard and Wealth Curve Blueprint created as soon as possible. We understand what your hurdles are. We can model them, when they’re going to come, and the impact on your future potential. When you know that, you can sit back and say, “Oh, we can do more than I thought!” Or, perhaps, “This is not going to work out for us.” You can then make the appropriate adjustments.
For more, listen above. Then schedule a time to come in and talk to us. Call us at 732-542-1565.
I hope to hear from you soon.
Are you ready to increase your profit growth by 25%? John will show you how in the 2018 Business Owner’s Guide To Maximizing Your Benefits From The 2017 Tax Cuts.
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