Making your Money Work for You Now and into retirement. Financial Planning vs. Investing Minimizing Taxes vs. Rates of Return Living vs. Limping to Age 100 Retirement Planning DilemmaA video from WEALTH BUILDING CORNERSTONES on VimeoAccumulationDistributionInflation/TaxesLongevity NEEDS & GOALS What do you HAVE to HAVE to prepare for all of these situations? Kids Education Nursing Care Retirement Income Medical Assistance Travel In-Law Suite Saving for a New Home Vacation Home How Do We Fix It? KNOWN TaxUNKNOWN TaxNO TaxWe Create Balance in All Three! Financial Balance – The Goal is To: Build Maximum Wealth Not Run Out of Money in Retirement Transfer Wealth Have a SOLUTION That Works ALL the time!! WHAT ARE YOU CURRENTLYDOING TO SAVE? Building Maximum Wealth:Today vs Tomorrow401(k): Is it the seed, or the harvest 4-STEP STRATEGY STEP 1: TAKE INVENTORY ORGANIZE YOUR FINANCIAL LIFE STEP 2: MAXIMUM PROTECTION: LIFE INSURANCE LIFE INSURANCE: BUY TERM & INVEST VS. WALIHOW DOES COVERTING YOUR HUMAN LIFE VALUE INCREASE YOUR WEALTH TODAY AND TOMORROW STEP 3: START SAVING SAVE 15-20% OF GROSS INCOME STEP 4: HAVE ONE YEAR IN RESERVE THE CONSTANT IN LIFE… “THE UNEXPECTED” 4 Stages of Wealth Accumulation Wealth Inception (Age 22 - 30) Your first job, credit card, apartment, car, etc. No one really knows what they're doing at this point except to enjoy life and the fact that they're earning an income. Wealth Creation and Accumulation (Age 30-70) This is the only stage that serves a dual purpose. It is also the most critical stage because stages 3 and 4 rely so heavily upon it. Creation- you must earn enough income to satisfy your debts, save money and enjoy your lifestyle. Accumulation- you must build up enough wealth to last the rest of your lifetime. Wealth Distribution (Age 70 until death) We don't know how long this stage will last but what we've learned is that absent a pension, people are simply not saving enough money to last as long as they last most often; certainly not enough to live the lifestyle to which they have become accustomed. Wealth Legacy (Generational Wealth) Because we've typically done a poor job in stage 2, stage 3 is questionable and during stage 4, the Legacy number is quite often, Zero. Making your money work for you, Now and into retirement Clay GoldsboroughPartnerPhone: 301-907-9030 x1358 email@example.comEmail clay Have a Question? Name Email Address Phone Question Thank you! Oops!