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.
Seven Keys to More Happiness
Seven Keys to More Happiness We all want to be happy, but what is happiness and how do we become happier? Happiness is not a destination, but rather a way of being. Author Margaret Lee Runbeck described it this way: “Happiness is not a station you arrive at, but a manner of traveling.” Many people…
A Look at the Evolution of Online Education
A Look at the Evolution of Online Education Like almost every other industry, the education industry has experienced a lot of change in the last two decades. Just as the Internet has influenced everything else, it has also had a great affect on education. Twenty-five years ago if you wanted to earn a college degree…
What is the Purpose of Your Business?
What is the Purpose of Your Business? Profit is the result of what a business does, but it is not the purpose. Businesses spend an inordinate amount of time asking questions about how things are done. For example: How has this been done in the past? How have other businesses done this? These kinds of…
Embrace Opportunities and Be Flexible in Your Plan
Embrace Opportunities and Be Flexible in Your Plan Life is a journey and the race is usually not won in a day. While it’s important to plan ahead and it’s a good idea to map out your future, the fact is things don’t always go according to plan. Thus, it’s very important to be flexible…