Navigating Financial Pressure, Episode #3
In this strategy guide episode, John and his partner Edward Bao, CFP®, AIF® discuss the 9 areas that exert pressure on our wealth. These categories don’t change, no matter the circumstances we face in our personal lives or in our nation.
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 recipient of the Five StarSM Wealth Manager Award.
Don’t miss these takeaways:
- A successful financial strategy begins with identifying where the financial pressures are. Look for them in the following areas:
- Family
- Future Outflow and Inflow
- Income Sources
- Taxation
- Savings Rate
- Debt Structure
- Asset Balance
- Liquidity Goals
- Defense
- For each person, what happens in these nine areas will be different, and for each person they will change throughout your life.
And more!
- Once you’ve identified financial pressures, decide what steps you will take to mitigate or reduce that pressure now and in the future.
- If you don’t take any steps, you will never see the change you want, and you also may end up repeating the mistakes of the past.
- At Smallwood Wealth, we’re risk managers, because the pressures are the risks. Our advisors work to reduce your exposure to all risks, including longevity risk, disability risk, credit risk, risk of premature death, and creditor risk.
- We want to help you save more money. We help you rework your lifestyle, cut your taxes, make your debt more efficient, clean up your property and casualty insurance, and eliminate rampant finance charges.
For more, listen here. Then visit us at smallwoodassociates.com, where you’ll find a wealth of resources. Watch our video, “Financial Planning: The Big Picture,” and download our Guide to Navigating Financial Pressure. 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 an advisor. They’ll discuss your plan and the current pressures on it. They’ll also cover strategies you can use to reduce those pressures now and in the future.
Podcast: Play in new window | Download
Subscribe: RSS
