The Wealth and Beyond Program —What is it?

Our 104 combined years of experience working with clients to create prosperity has been the catalyst in creating The Wealth and Beyond Program, a five-step process we've found to be instrumental in helping clients create wealth and find financial peace of mind. The program has two avenues of focus.

Wealth: Focuses on accumulation of wealth. People want to become financially independent so they have the choice to retire, work part-time, travel more or pursue new interests. Our services not only focus on the strategies and details of how to achieve this but also how to go "beyond" and make this journey an enjoyable one.

And Beyond: There are many facets —

1. The questions we ask.
2. The "Beyond" during the accumulation phase of financial planning involves more than just addressing money management issues.
3. Beyond also focuses on the legacy or stewardship phase of wealth management.
4. Sharing wealth is a key component of manifesting the benefit to all.

1. The questions we ask:

What does your life look like beyond financial independence?

What are satisfying ways you will spend your time?

What reasons will you have to keep working if you don't need the money?

Are there things you have always wanted to do but never had the time?

What can you do now to create your new life while you are still working?

 

2. The "Beyond" during the accumulation phase of financial planning involves more than just addressing money management issues. Some examples include:

a. Building a team of advisors. This can range from the traditional CPA and estate-planning attorney to an exercise coach or interior decorator.

b. We address earning power as one of the most powerful assets a person possesses, so having an "increase your earnings plan" may need the assistance of a career counselor. Or your career may not be satisfying, so exploring the idea of changing careers for greater fulfillment might also benefit from working with a career counselor.

c. Family meetings are important, especially in estate planning. They inform the entire family about why the estate is set up a specific way. These meetings can be used to communicate gifts to children and grandchildren during lifetime and the expectations that surround these gifts.

d. Some people want to start businesses or increase the value of their current business. For services for which we have limited expertise, we have strategic alliances with experts to whom we refer our clients for assistance.

3. Beyond also focuses on the legacy or stewardship phase of wealth management. Once people have accumulated wealth, they find satisfaction in sharing it with family, friends, and the community, so that the world can be a better place to live. Stewardship is protecting, using, preserving, and transferring the assets you've accumulated in an effective manner. The four components of stewardship are:

a. Preserving assets to ensure your own financial independence;

b. Defining the legacy you wish to leave to heirs;

c. Defining any legacy you wish to leave for the good of the bigger community;

d. Defining the tax burden you'll accept.

Once you decide what you want, strategies can be implemented to ensure your estate conforms to your desires.

4. Sharing wealth is a key component of manifesting the benefit to all. This could be sharing with family, sharing with others less fortunate or giving to charitable causes.

a. Our Children's Empowerment Program helps parents define "effective sharing" so that their children are empowered to be independent and functioning adults who also contribute to society.

b. Our Philanthropy Identifier helps define the areas for sharing outside the family. If clients take advantage of this service, we assist them to identify beneficial causes they can support that makes the most difference and gives them the most personal satisfaction.