Why do I need wealth management when I’m not “wealthy”?
I have a 401k, isn’t that enough?
I don’t need to think about saving for retirement yet, do I?
You’ve heard the saying, “A penny saved is a penny earned.” If you are earning, you are building wealth.
We specialize in ensuring all those saved pennies are working in your best interest, toward your financial goals – at any age and phase of life.
Whether you are just entering the workforce or are ready to take your financial planning to the next level, Taylor Wealth Solutions can walk with you, step by step, through the process of creating a detailed, personal financial plan.
Typically, there are three phases of wealth planning. Each phase is equally important as you work to plant the seed of financial wealth during the protection phase; nurture it during your high-income producing years, the accumulation phase; and ultimately grow a solid and mature financial portfolio in the distribution phase.
Protection Phase
No matter the size of your paycheck, you want and need to protect your earnings, your potential for earnings and your valued assets. At Taylor Wealth Solutions we call that wealth protection.
As you begin to progress and grow wealth, it is vital to protect your earnings as well as your ability to earn income for the duration of your income-earning years.
Ensuring that our clients are properly and adequately protected with life, disability and long-term care insurance are vital steps in the wealth management process.
Another important factor in protecting your future may include developing a debt reduction plan. Earlier in life, you may have accumulated student loans, credit card or other types of consumer debt. It is important to make a plan to reduce debt while considering the other elements of wealth planning.
As you establish your career, you also have the opportunity to take advantage of the employer options that are available to you such as your corporate retirement plan. We can help you understand and incorporate your benefits packages within the other services we provide. Your benefits package is a piece of the overall planning puzzle.
Our insurance staff collectively has decades of experience in providing our clients with appropriate and affordable insurance coverage. Through our agency, we have the capability of underwriting insurance plans through more than 35 companies. These multiple contracts enable us to deliver the best coverage and pricing that is personalized to your family’s needs, history and current health status.
Accumulation Phase
During the accumulation phase, we often see our clients growing and expanding in all areas of their lives. Wealth planning impacts all of your significant purchases and personal milestones such as buying a house or new car, developing college savings plans, and adjusting retirement and savings plans appropriately over time.
Today, the importance of a retirement savings plan is well understood. But, at Taylor Wealth Solutions, we help you cut through the noise of industry jargon and endless options and choices that come with selecting your retirement plan to get to the heart of the issues that matter most to you and your family.
We blend your short and long term goals with your investment comfort level to create a customized wealth-building portfolio. Several factors we consider include:
- Client age and years to retirement
- Risk tolerance
- Liquidity needs
- Short and long-term goals
- Generational planning
- Alternative investment strategies
During the accumulation phase, Taylor Wealth Solutions has the potential to make the biggest impact on your family’s financial future. Many of our clients are not “wealthy” by traditional definitions. Everyone has to start somewhere. With our comprehensive approach to financial planning, together we can nurture and grow your wealth potential.
Our retirement planning staff specializes in both individual and corporate retirement planning. With more than 150 years of collective experience and training, our team is dedicated to managing all the details involved in retirement services and planning.
Distribution Phase
After a long and productive career, you’ve worked hard, made smart financial choices, maintained the discipline to nurture your retirement and investment plans and now you are ready to retire.
Taylor Wealth Solutions will help you comfortably manage your nest egg for the rest of your life.
During your retirement years, we continue to provide assistance in managing your investments and remain focused on your goals. Equally as important as the accumulation phase, the distribution phase requires planning, management and oversight.
Wealth management is about the life-long process of intentional planning, building, and protecting wealth – not just managing wealth after it is accumulated. That’s where we do the vast majority of our work. We stand ready to help you grow and thrive. Visit our wealth management team page to find an expert that fits your needs.
