Wealth Plans & Weathering the Storm:

It is Sunday morning and the Dow Jones 30 Industrials Average was just down seven percent (7%) for the week. I have completed reading my third article of the weekend about how everyone needs a plan to deal with the market malaise. This one was about people thinking they were ready for, but are now delaying, retirement because home prices are dropping, portfolios are losing value, and the cost of everything seems to be going up. Those of you who are around me enough know I often quote movie lines and the one that comes to mind is from the end of the movie "Terminator". As we see ominous, dark clouds on the horizon, a little boy sells a picture to Sarah Conner and says, "There’s a storm coming!" What I want to focus on is the benefit of financial planning to help weather the storm.

There are five disciplines involved in financial planning: Investments, Taxation, Insurance (Risk Management), Retirement and Estate Planning. Carson Wealth Management Group practices Holistic financial planning which means we focus our expertise in all five areas to develop a comprehensive, cohesive Wealth Plan tailored to your individual situation and resources to achieve your goals. Our definition of a Wealth Plan is:

A Wealth Plan is a guide to direct you from your current financial situation to financial freedom and the ultimate disposition of your estate. Like a GPS system, your plan will change every day as your financial information updates and should be reviewed periodically to measure progress and redefine the course necessary to achieve your goals.

The need for wealth planning has never been greater. Many questions we get asked are difficult to answer without specific information. People ask, "How much do I need to retire?" Without knowing your expenditures, lifestyle, assets, income and goals we do not know the answer. $1 million in a qualified plan account (IRA or 401(k)) is not the same value as $1 million in a non-qualified account due to tax consequences of withdrawing money from a qualified plan. Additional questions include:

We update and monitor progress based upon current information and use the results to adjust your course and fine-tune your actions. This allows us to recognize life’s little detours and take steps to help minimize negative impacts on your portfolio or lifestyle. We believe everyone should have a Wealth Plan. That’s why Carson Wealth Management Group has doubled the number of wealth planning professionals over the last year. Our team has decades of experience in the financial industry. We are committed to putting together a comprehensive plan to help you weather the financial storm