Do you have an investment plan right now? Are you confident it is the right one in place? What if you do not have one in place?
No matter how you came into your money, managing your wealth can be a challenge. The decisions you make NOW and over the years to come will have a direct impact on whether you secure the financial independence you desire. How do you build your investment plan? First – define the right question for you, one that is personal and important to you. Look into the future and plan like a business. Private investors should take pages out of the “business” playbook – your investment plan must have very clear investment goals for each milestone down the road. It starts with YOU – and You must take responsibility for your portfolio. AND, if you do not build financial independence from the business you will never feel confident enough to walk away. YOU must engage the right team, stay involved with what is going on with your investments, and communicate changes in your four Fs to your wealth manager/investment planner. It is YOUR wealth, so YOU have to be responsible for protecting it.
Thank you to Dan Gavin a Principal with Bernstein Private Wealth Management and our very own succession planner, Loyd Rawls, for sharing your expert insight.
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