What do Wayne Newton, Mark Twain, and MC Hammer all have in common? They all declared bankruptcy after amassing a great fortune through their trades and talents. Their cautionary tales seem to prove one commonly held belief to be true:
Making money is not the hardest part—the hardest part is holding on to it.
Now, because you’ve worked hard, been lucky or blessed, and are affluent, you can probably relate to that sentiment. There are plenty of ways to spend money, and there are even more ways to spend money in the supposed pursuit of planning for the future.
Traditional planning methods simply don’t encourage you to personalize the process and discover what your real goals are for the future of your wealth. As a consequence, too many affluent people squander away their resources because they don’t know the options available or they don’t know how to decide on the right options for their situation.
Many prosperous people don’t take advantage of the strategic planning opportunities available to them. When there is a lack of clarity about what you want to do with your money, it leads to an onslaught of confusing options from your advisors. And without clarity, those options will only result in indecision and inaction.
Expect deeper, more engaging conversations with a trusted advisor about what you want to do. Most of all, expect more from yourself. Believe you are more than the things you possess. Listen to your spouse and heirs and hear what matters to them. Expect more from your planning and from your trusted advisors.
“All our dreams can come true, if we have the courage to pursue them.”
-Walt Disney
Boomfish Wealth Group, LLC, DBA Wealth With No Regrets®, is registered as an investment adviser and only transacts business in states where it is properly registered, or is excluded or exempted from registration requirements. Registration does not constitute an endorsement of the firm by securities regulators nor does it indicate that the adviser has attained a particular level of skill or ability. Content should not be viewed as personalized investment type of advice. All investment strategies have the potential for profit or loss. Tax, legal, and estate planning information is general in nature. Always consult an attorney or tax professional regarding your specific legal or tax situation. Investing involves risk, including the potential loss of principal. Any references to protection benefits generally refer to fixed insurance products, never securities or investment products. Insurance and annuity product guarantees are backed by the financial strength and claims-paying ability of the issuing insurance company. Neither Boomfish Wealth Group, LLC, nor Wealth With No Regrets® is engaged in the practice of law or accounting. We are an independent financial services firm helping individuals create retirement strategies using a variety of insurance and investment products to custom suit their needs and objectives This material is intended to provide general information to help you understand basic financial planning strategies and should not be construed as financial advice. All investments are subject to risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. The information contained in this material is believed to be reliable, but accuracy and completeness cannot be guaranteed; it is not intended to be used as the sole basis for financial decisions. It is important that you do not use this information to request, authorize or effect the purchase or sale of any security, to send fund transfer instructions, or to effect any other transactions. Any such request, orders, or instructions that you send will not be accepted and will not be processed.
