A wealth plan identifies your life goals and provides you with a personalized wealth management strategy to meet your financial milestones and achieve each objective.
However, a wealth plan isn’t something you set and forget.
Goals may change
Over the years, your goals themselves will change—one will be reached, another may be modified and perhaps a new goal will be added. For example, having saved for a child’s wedding could be one goal completed, while the wish to purchase a condo down south for your retirement years may be a new goal to achieve. Any change in goals calls for a change to your wealth plan.
Adapting a wealth plan to life changes
Many life situations and events have financial consequences that can affect a wealth plan. Say an individual goes through a divorce and the costs and settlement cause this person to reassess their retirement plans. Or someone receives an inheritance earlier than expected and, with this financial cushion, leaves their management position to launch their own business. A parent may learn that only one of their two children wants the family vacation property and, to equalize inheritances, purchase a life insurance policy with the other child as beneficiary. A retired couple may not expect to have education savings as a financial goal, but now have two grandchildren and want to help fund their education. You’ll most assuredly have your own unique situations that will affect your wealth plan in some way.
Keep us informed
Together, we can regularly monitor your wealth plan to ensure it reflects your evolving needs. You can also let us know whenever a life event occurs or a goal changes. We’ll make sure your plan changes accordingly and you remain on track to meeting your financial objectives.