How Do I Do It?

My wealth planning philosophy maintains that there are three different stages in one’s life that are the foundation for how your assets should be managed.

1. ACCUMULATION
   • Building assets for particular objectives and goals
2. PRESERVATION
   • Seeking to ensure assets will be sufficient to meet ongoing objectives and goals
3. DISTRIBUTION
   • Ensuring specific amounts of assets are distributed to those intended

The three different stages in your life at times employ vastly different investment strategies. However, there exists a common bond between them, regardless of the stage one is in, which is a financial plan.

Financial Planning

The financial planning process is thorough and intended to view each aspect of your financial life. The process entails reviewing each aspect individually as well as their interactions with one another. The process is designed to look at each client as though their personal finances were a business. Every successful business and thereby family should have the following:

BALANCE SHEET - A summary of ones assets and liabilities.

INCOME STATEMENT - A summary of one’s income and expenses.

RISK ASSESMENT SUMMARY - A review of potential hazards and the corresponding losses that may be incurred.

INVESTMENT POLICY - An outline of one’s investment objectives and goals as well as the strategies employed to pursue said objectives and goals.

SUCCESSION SUMMARY - An outline of one’s desires should they become incapacitated or deceased.

Furthermore, the most productive financial plans are "living documents."  This means that they are not etched in stone but intended to be updated regularly as your life changes.