5 Key Money Issues

Key Takeaways

  • There are five issues that successful investors have when it comes to their wealth.
  • The five issues are wealth preservation, tax mitigation, wealth transfer, wealth protection, and charitable giving.
  • Once you’re in the stay-rich game, you don’t want to go back to the get-rich game.

Cash crisis? Four Steps to Get You in the Black

Key Takeaways

  • Sooner or later, we all face a cash flow crisis.
  • Make sure you have a plan in place to handle both short-term and long-term cash crises.
  • Having financial confidence and clarity is essential in today’s complex world, especially for making it through those times when things go “bump in the night.”

Where is the safest place to pull money in a down market?

The how, where and why of portfolio management

Key Takeaways

  • It can take a long time for your portfolio to recover if you don’t have your assets correctly allocated.
  • When there’s a down market cycle, look at areas of the market that are doing better than others and pull your money from those areas to ensure a faster recovery.
  • A safe withdrawal rate from your portfolio is 4% a year.

Feeling Confu$ed About Money Decisions?

Phone a friend

Key Takeaways

  • Stick to your plan, use time and discipline to your advantage, and have confidants with whom you can discuss your goals.
  • Be sure to have short-term, intermediate-term and long-term goals set up—in separate portfolios if necessary.
  • Don’t check your investments more than once per quarter, and take frequent breaks from the news media.