Summer is here, and with that a little time to slow down and enjoy it with family and friends. It has also allowed us to reflect on our work and think clearly about the important aspects of a complete wealth preservation plan.
Wealth planning is sometimes simple and sometimes complicated, but should always involve these key pieces of the puzzle:
- A clear understanding of your key concerns, opportunities and strengths
- A detailed understanding of your personal and corporate assets.
- A detailed understanding of your personal goals with respect to long term spending
- A projection of all assets at reasonable growth rates per asset class, including the impact of inflation on your wealth
- A tax efficient income plan that changes regularly as your needs change
- A tax efficient transfer of remaining wealth to the next generations and charity if that becomes important to you
- A review annually of all assets and assumptions to keep your plan effective
Have a good summer!