Wealth Management

What is “Wealth Management”? I hear so many people say, “let me help you with your wealth management.” Okay . . . what does that really mean? Are a bunch of people watching my money in a savings account, trading stocks on the exchange, or spending my money in an effort to make money? The term has always intrigued me, so I googled it and this is what I found as a definition: “Wealth management” is a branch of financial services dealing with the investment needs of affluent clients.”

Another phase that seems to be trending is “financial freedom.” Again, what does this mean? Yeah – I’m free from all financial obligations! My guess is that is not what is meant. I believe “financial freedom” is different to each person.

Now I want to put these two phrases together and share with you what we at A&M Futures defines as “Wealth Management for Financial Freedom.” To us, wealth management is NOT simply working with affluent clients. The word “wealth” is a mystery. What I mean is how one person defines wealth is not how another person does. It is independent for each person, just as wealth management solutions vary on an individual basis. In our book, “wealth management” is helping every client achieve a sustainable financially secure future. Financial freedom means no longer worrying about life’s “what ifs” and being prepared for life’s milestones. This can be overwhelming, especially since it is no longer your grandparents’ world and there seems to be so few clear solutions.

Our experts will teach financial capability and help you navigate your finances to reach your goals. We offer financial solutions to protect your wealth and grow your wealth without fear of market downturns or paying taxes. The first step is to protect your current retirement fund and evaluate any fees you are paying. If you currently have a traditional IRS qualified retirement plan (i.e. 401(k), 403(b), 457(b), etc.) or a pre-tax IRA account, we want to make a strategic change to protect your funds from market corrections (downturns). This will make sure that you don’t lose money from your account when the market goes in reverse. Looking at the fees you are currently paying is usually a shock to most. In most cases when you have an IRA, the larger your account balance, the higher your fees. For example, if you invest $100,000 over a period of 20 years in a traditional account (calculating a 6.5% rate of return) and we are only looking at the fees (no market swings) this is what you will be the outcome:

FEES:	0%	2%	4%
Your Account Balance:	$352,349.92	$235,227.02	$155,735.04
Fees Paid:		$117,122.91	$196,614.89

I know I don’t like the idea of someone making more from my investment than I do. When we assist you in these changes, please note that we do not charge a separate fee to do so, like a lot of institutions do. Our goal is to help you attain a sustainable financial future so you have peace of mind in your retirement years.

References

The COVID-19 pandemic’s financial impact on US consumers: Consumer pulse. TransUnion. (2021, March 16).
Pascarella, D. (2021, June 28) 4 stats. That reveal how badly America is failing at financial literacy. Forbes
Resendiz, J. (2020, May 27). Average credit card debt in America: June 2020. ValuePenguin
Simon, J (2017, September 25). Americans fear exhausting money in retirement more than death. PlanAdvis
O’Shea, A. (2021, March 17). The average 401(k) balance by age. NerdWallet.
LIMRA. (2021). Facts About Life 2021. LIMRA
Amadeo, K. (2021, April 30). Do medical bills really devastate America’s families? Thebalance
Kaiser Family Foundation. “Benchmark Employer Survey Finds Average Family Premiums Now Top $20,000.” Accessed March 20, 2020.
American Public Health Association. “Medical Bankruptcy: Still Common Despite the Affordable Care Act,” Page 432. Accessed April 28, 2020

Wealth Management