What is the key to happiness? The answer isn’t money. The key to happiness is understanding yourself: your needs, your wishes, and your goals for yourself and your family. But these needs, wishes, and goals do require money.
Do you want to buy a new house? A new car? A new boat?
Do you want to help your children or grandchildren pay for college?
Do you want to take an annual family vacation?
Are you financially prepared to live the lifestyle you want to live?
Lifestyle wealth management is an approach to managing your money that encompasses a full understanding of your needs, your wishes, and your goals for yourself and your family, along with your financial resources. Its objective is to give you the confidence and comfort you need to live life to the fullest, while knowing your true financial position and the minimum return you require on your assets.
With a full understanding of your current and desired lifestyle, as well as an understanding of your financial position – income, expenditure, assets, debt, and likely events that could affect your financial position – a customized lifestyle wealth management strategy and plan can be developed. The strategy and plan is designed to support and match your specific cash reserve requirements, income needs, growth goals, and risk tolerance preferences. Having a very real picture of your cash flow provides the ultimate reality check. It removes any guesswork and allows you to make informed decisions about your lifestyle – sometimes life changing ones. For instance, a clear understanding of your cash flow could tell you how much you need to sell your business for. Or at what age you need to – or can – retire. The more information you are able to provide, the more accurately your lifestyle management plan will enable you to live the life you desire.
However, as we all know, life is unpredictable. No one truly knows what will happen tomorrow, next week, next year. That is why your lifestyle wealth management strategy and plan are developed to be flexible. The strategy and plan can be adjusted according to the changing needs of your life to give you peace of mind, cash when you need it, income when you need it, and growth. Tax Saving Professionals’ team of CPAs, tax attorneys, enrolled agents, financial planners, and insurance professionals provides you with the confidence and comfort you need to fully live life by uncovering your hidden money and putting it to work for you.