Wealth Planning

What Is Wealth? | Four Objectives of Wealth | Retirement Planning | Estate Planning | Wealth Planning Dilemma | Wealth Planning Process | Wealth Planning: Achieving a Balance | RetireNow Software

Wealth Planning Dilemma

Here’s the problem: There is a basic conflict between retirement and estate objectives:

The goal of retirement planning is to never run out of money. Since you don’t know how long you’re going to live, it’s difficult to time it. The solution is simple - preservation: hang on to your money.

The goal of estate planning is to make sure you pass it along to others and minimize what goes to the IRS. Again, the solution is simple - give your assets away before you die.

So what’s the right strategy for you? Preserve them or pass them on? Hang on to your assets or give them away?

Of course the real world is not that simple. The “trick” to achieving both retirement and estate objectives is to figure out how much to hold on to and how much to give away and to keep your plan in balance.

Wealth planning provides a model to help people balance these objectives.

>> Wealth Planning Process

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