Three Tips for Maintaining Wealth in Retirement

February 16 08:15 2021

Brighton, Michigan – February 15, 2021 – There is a famous saying that goes “With great power comes great responsibility.” That same philosophy often applies to acquiring wealth and maintaining it. As a person’s wealth increases, they are naturally provided with more choices on how they choose to use it. However, if left unchecked and without careful planning, such choices can quickly erode a person’s wealth.

“Successfully navigating the complex financial challenges and issues that often come with wealth usually involves careful financial planning, relevant advice, wealth enhancement strategies, and an experienced advisor who is not afraid of saying no whenever someone asks, can I really afford this,” says Nick Bour CLTC, Founder & CEO of Inspire Wealth.

Inspire Wealth recognizes that different individuals have increasingly complex and nuanced financial circumstances as well as wealth planning and retirement planning needs. With the impact of the coronavirus pandemic and the potential for increased taxes, it’s more important than ever for those approaching or in retirement to take the necessary precautions. Nick offers these tips for those seeking to maintain their wealth.

Look for a Fiduciary

It is important to work with a financial advisor who is going to put your best interests ahead of their own. There are a lot of financial professionals vying to work with retirees who have already amassed their wealth. That is why retirees should be looking for someone who is held to a fiduciary responsibility.

Take Advantage of Advanced Planning Strategies

Working with a fiduciary is a great start, but you should also look for one who is experienced in advanced wealth planning strategies. Such strategies may not apply to every retiree, but when it comes to making your wealth last, every dollar counts.

Seek Comprehensive Advice

Maintaining wealth is not just about investment returns and income. Retirees should also look for advice that covers a variety of vantage points. Taxes, healthcare planning, and estate planning are just a few of the variables that could play a factor in how you plan for retirement.

“Are retirees getting the right financial advice? Are financial advisors doing exactly what they should for the fee they are receiving?” Nowadays, during the coronavirus crisis and the financial and economic uncertainty that accompanies it, all these questions are more crucial than ever before. During these uncertain times, it is even more vital to have a comprehensive approach to financial planning” added Nick Bour.

Full Wealth Management and Advanced Planning with Inspire Wealth

Managing personal wealth is more than merely managing investments. To effectively grow and protect personal wealth, Inspire Wealth provides superior wealth management services with a comprehensive financial plan. Their integrated approach to wealth management helps align retirees’ wealth with their plans, life, and business circumstances. Life is rich, fluid, and varied, so a financial plan must also be adaptable and agile.  

That is why Inspire Wealth leverages a dynamic and proactive approach to help alleviate the concerns of a select group of families, medical professionals, and business owners. Comprehensive wealth management is a lot more than the active management of investments.  It’s more than just the creation of a retirement plan, going well beyond frequent check-ups of an investment portfolio.

Full financial planning and wealth management involve planning for and prudently addressing various life events. It addresses everything from planning for a child’s education and running a business to preparing for retirement and creating an effective plan for your estate. 

Inspire Wealth’s strategies work well for managing all kinds of affluence. In their many years of experience, the firm has become specialized in guiding and helping professionals nearing retirement and business owners looking for succession planning.

Drawing on various services that include retirement planning, estate planning, tax planning, securities, wealth protection, and wealth enhancement, Inspire Wealth can tailor a financial plan that supports a person’s specific goals and requirements.

“Our holistic and dynamic approach to full wealth management provides clients with highly customized financial solutions and plans to address all aspects of their current financial situation while planning for future opportunities. Inspire Wealth aims to offer our clients the clarity and knowledge they need to make confident and timely decisions regarding their wealth. We offer financial planning and wealth management services to help ensure that our clients make the most of their financial resources while protecting them from uncertainty. We consider everything: assets, liabilities, taxation and estate strategies, executive benefit plans, and health insurance. This list is only exhausted when our professionals have effective strategies in place that account for every variable that can influence our clients’ abilities to increase, protect and eventually transfer their legacies,” said Nick Bour CLTC, Founder & CEO of Inspire Wealth.

About Inspire Wealth

Inspire Wealth offers full wealth management, retirement planning services, and financial planning services to families, business owners, and individuals throughout eastern, Michigan and beyond. The firm considers its clients part of its family and often forges life-long professional relationships based on a foundation of transparency and trust.

Investment advisory and financial planning services are offered through Alphastar Capital Management LLC, a SEC registered investment adviser. Inspire Wealth and Alphastar are separate and independent entities.

Media Contact
Company Name: Inspire Wealth
Contact Person: Nick Bour
Email: Send Email
City: Brighton
State: MI
Country: United States
Website: www.inspireyourretirement.com

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