Forget about the Frequently Asked Questions, let’s talk about the Frequently Unanswered Questions!
What is The Wealth Gap?
The amount of Life Insurance I recommend helps you and your family to:
- Pay off debts associated with assets you own
- Provide the option for children to attend college
- Replace income that either of you contributes to the household lifestyle
- Replace the loss of income the remaining spouse would experience being a single parent
What is Legacy?
Legacy is NOT our money. It is our ability to L.O.V.E. in the Most Abundant way!
Leave Others with Valuable Experiences
What is a Legacy Bank?
Traditional Financial Planning focuses only on money. However, no one talks about money in their last days. They only talk about their important assets: Their Families, Experiences, and Life-Changing Impacts. The Legacy Bank is the system/process that uses financial tools to recapture Lost Opportunity Costs with the sole purpose of creating, transferring, and maintaining true wealth from generation to generation.
Why is Financial Planning so challenging?
The challenge of keeping pace with an ever-changing financial landscape can be difficult as personal financial information is scattered among multiple financial professionals, institutions, and accounts. Consumers often become confused and frustrated as they attempt to properly arrange the pieces of their financial puzzle.
What’s missing is a single, simple, and easy to understand the plan you can LIVE by – NOT a book of charts, graphs, and reports: “A Picture.”
What is the Real Cost of Living?
When you hear ‘cost of living’, what immediately pops into your mind? Most people would say… inflation. However, this is only part of the picture. “Inflation”, as measured by changes in the Consumer Price Index is frequently identified as the only factor that affects your total cost of living. While inflation certainly impacts your cost of living today and into the future, there are actually six factors that must be considered when determining your increase in the total cost of living.
- Taxes of all forms
- New goods and services
- Product wear and tear
- Improved lifestyle
- Unexpected life events
What are people not telling me?
For many, the effects of financial myths can be a destructive force impeding important lifestyle and legacy objectives.
- My money only needs to keep pace with inflation.
- I will be in a lower income tax bracket at
- My 401(k) plan creates tax savings, which can be spent or invested.
- Compounding interest creates a financial miracle.
- I won’t need life insurance when I retire.
- A 15-year mortgage costs less than a 30- year mortgage.
- Disinvesting is the same as investing.
- Rate of return on my assets is more
important than regular savings habits.
- To increase protection, my cash flow will suffer.
What’s wrong with “My Number?”
Deciding how much to save for a given event can feel like pulling a number out of a hat. Over time everything changes: markets ebb and flow, costs rise, goals fluctuate. If you can’t tell me for CERTAIN how much life will cost 2 years from now then, maybe “Your Number” needs help. There is definitely a better way to create certainty without relying on guesses, unknowns, and predictions!
How do I know if my plan will work
when I need it?
TEST IT! You wouldn’t wait until you NEED your brakes to test them, would you?
Will your plan work:
- If You Get Sick or Have An Unexpected Death?
- If You are in a Good or Bad Economy?
- If You Get Sued
- If you Lose Your Job?
Will your plan allow you to:
- Build Maximum Wealth?
- Spend money Today and Tomorrow without fear of running out of money?
- Transfer your wealth to whoever you wish other than the government?
- Create a Blueprint for others to follow for
What’s the best investment strategy?
85% of investment advisors don’t invest in the market but say you should! In fact, if Wall Street Gurus could predict the market, why would they need your money? WAIT… the “Market” is still one of the best places to get a great return on your investment HOWEVER, it is not what or when you’re investing that makes a difference. It’s WHY and WHEN you will need the money. Now that’s a different strategy!
Which should I do first? Invest, Get out of Debt, or Save?
Hmm… Spend it, Lend it, or Defend it? I guess the question should be, “If you only had one dollar what would you do with it?” People forget that financial planning is not about money. It’s about life! However, most people spend 95% of their life focused on their money. When you think about the issue of paying down debt before saving money or investing before paying down debt, it’s important to take a step back and consider the big picture.
How much can I really spend in retirement?
The truth is, I don’t know. Nobody does because we don’t know how long we will live. However, there is a way to maximize the amount of money you can spend without worrying about running out of money. Most people think retirement is about “how much money they have”. When it is actually about how much income can my money generate for my lifestyle. This is why people chase Rates of return.
When investing what rate of return should I expect?
There are three rates of return ALL portfolios experience.
- The Annual Rate of Return- This is the one you can own.
- The Average Rate of Return- This is the one you can calculate.
- The Actual Rate of Return- This is the one you can spend.
You tell me, which one do you think most people really care about? Economists say a good portfolio should yield approximately 4% actual return in income. However, there is a way to create more income without affecting your portfolios or their rates of return.
What is the best asset allocation when building a wealth portfolio?
Asset allocation refers to the mix of investments in a portfolio. It describes the proportion of stocks, bonds, and cash that make up any given portfolio—and maintaining the right asset allocation is arguably the most important decision long-term investors can make. However, If I put $1,000,000 of your life’s labor on your kitchen table and said, this is all of your money. How much of it can you risk losing. You would probably say, None of it! So, your portfolio needs more than asset allocation. It also has to incorporate asset location and orchestration. Your portfolio nor the world are flat. They both should be well-rounded.
Should I diversify in real estate to lower my risk?
Real Estate as one of the best investments a person can obtain. It grows in equity and value, it is often more stable than the market, and is one of the biggest controlling factors of the economy. However, most investors buy investment properties on a “Speculative” basis vs a “Calculative” basis. You can no longer rely just on your “Gut Feeling”. The property MUST MAKE MONEY!! Every TV show tells you how to get in the deal. They just don’t show you how to get out of the deal with Cash!
“If we do the RIGHT Things for the RIGHT Reasons, I PROMISE everything will be ALL RIGHT.” – Randy
Click the link below if you are ready to hear the Rest of the Story!
RANDY’S PERSONAL MISSION
To help you Assess Your Values before we Value Your Assets. To protect your ability to earn income while accumulating wealth in the most tax-efficient ways available. To help you answer the question;
“If money weren’t an issue, what would you do for someone else?”
Still Have Questions?
Don’t hesitate to reach out to me anytime
12100 Sunset Hills Road
Reston, VA 20190
Phone & Fax
Check the background of your financial professional on FINRA's BrokerCheck.
This website is intended for general use. By providing this content, Park Avenue Securities LLC and your financial representative are not undertaking to provide investment advice or make a recommendation for a specific individual or situation, or to otherwise act in a fiduciary capacity. Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation.
Securities products and advisory services offered through Park Avenue Securities LLC (PAS), member FINRA, SIPC. OSJ: 11350 McCormick Road Suite 202, Hunt Valley, MD 21031, 410- 828-540. PAS and Financial Growth Partners are wholly owned subsidiaries of Guardian.
2023-149940 Exp 01/25