There are many financial products in the market, and so choosing the ones that best meet an individual client’s needs can be complicated.
Retirement planning today has taken on many new dimensions that never had to be considered by earlier generations. For one, people are living longer. A person who turns 65 today could be expected to live as many as 25 years in retirement as compared to a retiree in 1950 who lived, on average, an additional 15 years. Longer life spans have created a number of new issues that need to be taken into consideration when planning for retirement. The absence of pensions, questions about Social Security, and rising healthcare costs have created multiple generations of investors that are wholly responsible for their retirement success. (source: forbes.com, 2014) See source article here.
A comprehensive risk management strategy and insurance are essential to any comprehensive financial security plan. If tragic events like death, disability, or critical illness strike, insurance can protect you and your family from undue hardship and give your family peace of mind. Some life insurance policies also provide tax-advantaged savings that you can draw on to achieve goals like buying a house or retiring comfortably.
Asset allocation is the process of selecting a mix of investments that closely matches an investor’s goals and time horizon. It is based on the premise that the different asset classes have varying cycles of performance, and that by investing in multiple classes, the overall investment returns will be more stable and less susceptible to adverse movements in any one class. All investments involve some sort of risk, whether it’s market risk, interest risk, inflation risk liquidity risk, tax risk. An individualized asset allocation strategy seeks to mitigate the risks of any one asset class though diversification and balance.
*Asset allocation does not ensure a profit or protect against a loss.
*There is no guarantee that a diversified portfolio will enhance overall returns or outperform a non-diversified portfolio. Diversification does not protect against market risk.
With over $1,000,000,000,000 (that’s Trillion, with a T) in outstanding student loan debt in the US, planning for college is one of the greatest gifts that you can give to your children and grandchildren. Imagine the advantage that your child or grandchild would have by not having to spend their first working years servicing student loan debt. There are multiple ways to put this plan in place, and the most important aspects are making sure that you have flexibility and that your plan is as tax efficient as possible. (source: forbes.com, 2017) See source article here.
Business Succession Planning
Absent a written agreement, the competing interests of the business and the family members could lead to major conflicts, litigation, and possibly the forced sale of the business. A comprehensive review of the goals of all the parties involved in a business succession plan seeks to eliminate undue hardship, costs, and damaged relationships. In addition, a buy-sell agreement can help ensure that the business interest of the deceased owner transfers properly.
Planning for the transfer of assets at death is a critical element of retirement planning. It ensures that the wishes that you have for family members, friends, and the organizations that you hold dear are executed in accordance with your desires. Proper planning for estate transfer can be as simple as drafting a will, which is essential to ensure that assets are transferred according your wishes. Larger estates may be confronted with settlement costs and sizable estate taxes which could force the sale of treasured assets if the proper planning is not done.
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Kevin’s focus is comprehensive planning, and being able to combine his inner nerd and love of helping people is the reason that he entered the financial industry. He believes that an Advisor's job does not begin and end with investing, but also includes risk management, behavioral counseling, tax strategies, and estate planning. His ultimate goal is to be the last Financial Advisor that your family (including the next generation) will ever need.
Kevin’s career as a Financial Advisor began in 2008, after failing to learn to putt well enough to be a golf professional. He has been Dave Ramsey's ELP for investing since 2012 (now the Smartvestor Pro Program), and was the 2017 winner of Signature Magazine's Best Financial Advisor. Seeking a platform that enabled him to better serve his clients, he and Andy started Simplified Wealth Management as a comprehensive platform to help address the entirety of their clients financial lives.
Kevin’s life revolves around his beautiful wife, Lindy, and their two sons, Kane and Halden. He is an active member of Crosspoint Community Church and its Men’s Ministry. In his spare time he enjoys playing golf, is an avid sports fan, and enjoys all aspects of being a Dad to two energetic boys.
*The SmartVestor program is a directory of investment professionals. Neither Dave Ramsey nor SmartVestor are affiliates of Simplified Wealth Management or TD Ameritrade Institutional..
Andy’s focus is helping business owners balance their financial lives while still growing a thriving business. As a former business owner, he knows the challenges of being able to prepare for the future while being bogged down in the decisions that hold your attention day-to-day.
After graduation from USM, Andy began a career as a business owner in Hattiesburg. After finishing that chapter of his life, he decided to pursue a career as a Financial Advisor and joined the Wealth Management Division at Raymond James. In 2018, he and Kevin began Simplified Wealth Management as a comprehensive financial planning firm seeking to address the entirety of their client's financial lives.
Andy spends his days with his wife, Annie, and their 3 beautiful kids, Maddie, Abby, and Drew. Having three kids utilizes much of his time, but he is also an active Member of St. Fabian Catholic Church and dedicates much of his time to the Youth Ministry.
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The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. Please consult legal or tax professionals for specific information regarding your individual situation. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security.
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