Retirement Counselor Wil Schuette explains how the secrets of wealth management are simple. His formula helps people evaluate their plans for the future. No plans yet? Time to get started! He makes it easy.
Advantage Formula
In Part 2, Wil describes the last three pillars of success planning: Cash Management, Philanthropy, and additional services that need to be considered.
Cash Management
Where will your monthly income be drawn from? Will there be a gap between what you need and what you’ll have coming in? Do you have a solid date for retirement or do you want to have a “working retirement?”
Philanthropy
Most people want to take care of family or loved ones first as their philanthropic efforts. Time, talent, and treasure can be used in many ways. It’s best to decide the legacy you want to leave ahead of time.
Other Important Decisions
A qualified retirement specialist will help you with the complex options you’ll need to understand in your future years. Choose a specialist who can educate you or have other trusted resources available to help you navigate into Social Security, Medicare, and more.
Many people don’t realize that Social Security has more than the obvious options. Medicare plans can be hard to understand, and you’ll have to consider these options carefully when approaching 65 and each year afterward. And, what if other family members or loved ones need a plan? Who will help them?
ReFirement
Wil uses the term “refirement” to describe getting fired up about retirement years. Some people like the idea of working through retirement years because they love what they do. Others want to work on other passions they have delayed.
Secrets of Wealth Management
The Advantage Formula and its seven Pillars of Success in Retirement are the secrets we need to clearly understand:
- Wealth Management
- Risk Management
- Tax Management
- Estate Planning
- Cash Management
- Philanthropy
- Additional must-know services
You don’t have to work on all 7 Pillars at one time, but you need to be familiar with each one so you have a long healthy life without regrets!
Be sure to watch the previous interview with Wil as he explains the first four financial planning strategies: Wealth Management, Risk Management, Tax Management, and Estate Management. Create your own plan step by step.
Please share your thoughts in the comment box below…
How’s your bucket list going? Don’t you want to go somewhere, do something daring, have a second home, vacation regularly, leave a philanthropic gift, or something?
Do YOU have a plan?
Do you have a “When I Die” file that simplifies everything for your loved ones?
