Do You Know How to Stay Wealthy?
Most wealthy people work tirelessly to obtain their wealth and then continue to practice the same principles to maintain that wealth. However, achieving wealth and maintaining wealth over the long haul are two entirely different things. Therefore, it’s important to have the right advance plan in place if you wish to hold onto the wealth that you’ve worked so hard to obtain.
So what kinds of measures should you take to keep your wealth? The simple answer is that it takes some careful planning ahead. Advance planning often takes the skilled help of an experienced accounting and wealth management firm. That’s because in order to effectively hold onto your wealth you need to utilize every necessary and legal measure it takes, including tax planning and financial planning.
There are three major components to effectively protecting your wealth. They include asset protection planning, wealth enhancement and estate planning. All three of these factors are important elements to advance planning and protecting your wealth. Asset protection planning means you take the necessary steps and planning to protect your wealth from being taken. Wealth enhancement consists of effectively planning and strategizing in order to keep your taxes to a minimum, and thus keeping more of your wealth to yourself.
Finally, estate planning is using legal measures to ensure that your assets and your loved ones are taken care of after you die. At GROCO, we can assist you with all of these kinds of advance planning tactics. Click here to learn more or give us a call at 1-877-CPA-2006.
Make Charitable Donations Easy During Retirement
Can you make charitable donations easy during retirement? A lot of people, especially many ultra wealthy individuals and couples, enjoy sharing their fortunes with charitable causes. In fact, some of the biggest donors in the United States are also some of the country’s wealthiest individuals, including Bill and Melinda Gates (Microsoft), Warren Buffet (Berkshire Hathaway) and…
Wondering What to Do With Your Capital Losses – Try These Ideas
Wondering what to do with your capital losses; why not try these ideas? It was just days before Christmas and all through the land investors were scrambling to get the upper hand. Cries of “buy here” and “sell there” were heard throughout Wall Street, while every stockholder was busy trying to stay on his/her feet.…
Finding the True Power of Motivation
Is Motivation Aptitude Superior to Scholastic Aptitude? This article has been updated since originally posted. What does it mean to be truly motivated and how far can being motivated really push a person? The saying goes, “where there’s a will there’s a way”, and in so many instances that mantra has proven correct, even things…
Retirement Income – Will You Have Enough?
Retirement Income – Will You Have Enough? You could spend as much time in retirement – 30 or even 40 years – as you have spent saving for it. That is why planning for your retirement savings to generate income is critical. Developing a solid plan and appropriate investments for years of income is well…