The Wealth Continuum – Where Do You Stand?

Happy New Year! With 2015 now behind and 2016 just beginning, this is a good time to focus on creating “wealth possibilities” in the year ahead. Where are you along the path towards “Wealth Wellness”? Did you make progress towards your financial life goals in 2015? What changes do you need to make in 2016? What one change would make the most difference to your financial future?JW-Wealth-Continuum

One of our core guiding principles is that financial planning should be about possibilities, not probabilities. We all start out with time as our friend; as time marches on, however, it becomes our foe. Without a good financial foundation, followed by a conscious focus on saving during your peak earning years, your financial future can become one of probabilities. In other words, your menu of choices will be very limited.

The four categories on The Wealth Continuum are divided into those where you are planning for probabilities (Poor/Fair), and those where you can plan with possibilities (Good/Set).

I can attest from experience that most clients do not enjoy probabilities. After all, measuring the likelihood of being able to sustain a certain lifestyle is not pleasant when that likelihood is low.

I saw a survey recently that detailed the attitude of affluent working Americans towards retirement. 84% expect to be free to pursue hobbies and other interests; 77% anticipate being able to travel as they wish and 74% believe that they are financially secure. These findings are sharply at odds with the data. There is both a retirement income gap and an expectations gap. Many individuals in the period before retirement wildly overestimate their ability to solve the retirement income equation with their existing financial resources.

Our focus in 2016 will be on helping clients understand how to build “wealth possibilities”while time is still on their side. During the year ahead we will concentrate on educating; motivating (to take action); and encouraging. Are you on track? Ready for a real conversation?

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