Feeling great financially right now? Are your investments up, job going well, saving a little money, economy strengthening?
Many of you are feeling pretty secure where you are and may be thinking you have no reason for a financial review or second opinion. After all, as of *March 2017, the Consumer Confidence is at an all-time high since December of 2000.
Give this a read and see if you can confidently answer “yes” to all statements:
- You have complete clarity in how you are invested and why
- You completely understand any and all costs related to these investments
- You have a close relationship with your financial planner and have never felt like a number
- You get quarterly reports summarizing your accounts and a review by your advisor
- Your financial advisor knows your needs and frequently reviews your financial plan to meet your changing circumstances
- You are not paying or have minimized capital gains tax within your taxable portfolio(s)
- You have proper estate planning documents to protect yourself, spouse and children where appropriate including a Basic Will, Durable Power of Attorney, Health Care Surrogate, Living Will or other legal documents customized to your plan
- Your Revocable Living Trust is properly funded
- You have absolute certainty who will receive your assets in the event of your demise
- You know all your accounts are properly titled
- Your retirement plans have proper primary and contingent beneficiaries
- You are positive you have proper insurances in place to protect your spouse, children and estate – health, life, disability or long-term care – to mention only a few
- You are comfortable meeting your current and future income needs
Were you able to confidently say they all 100% apply to you and your current situation?
If so congratulations you have done a good job and keep doing what you’re doing.
If you answered “no” to any or even a “maybe” or “not sure” you should consider seeking a financial review or a second opinion. You see a good solid comprehensive financial plan would take care of all those points. You would be confident and feel secure knowing you have a clear financial plan for your future.
You would not be faced with unexpected taxation or costs associated with your investments. Even more important your family would not be burdened if you unexpectedly were incapacitated or died.
Don’t make the mistake of assuming everything is as it should be or as good as it could be. Take the time to find out. Gain clarity, become educated and become empowered. My financial reviews and second opinions are always offered at no cost or obligation. We may discover that you have everything in place as should be and you will be able to sleep better at night knowing your finances are secure. If we find problems then we can work together to solve them. It all starts with a phone call.
*Source: Lynn Franco, Director of Economic Indicators at the Conference Board. March 28th, 2017. www.conference-board.org
This is not intended to give specific legal, tax or investment advice. Advisory Services offered through Nepsis Advisor Services, Inc.; An SEC Registered Investment Advisor.