Phone: (908) 272-0027
Start building your future with our Financial Blueprint.
To build a home, you start with a full set of construction drawings. This is the blueprint that details not only what your house will look like, but all of the individual components that will integrate to create the home. To do so, you must first consider all of your objectives for the house, including the specific components and features that you want in the house - and those you don’t.
With these objectives in mind, you and a professional designer work together on a plan that includes every detail of each room until you have a full set of construction plans, plus a list of materials and resources needed to build the house. Likewise, a financial portfolio comprises a foundation, walls, roof and even fencing.
When constructing your fiscal house, you must begin with the foundation, because without a strong foundation, the house may crumble.
When building your fiscal house, prepare a time frame in which you want to meet certain objectives. For example, stocks offer the opportunity for higher returns but are best deployed over a longer time frame to offset short term risk of loss. When establishing your retirement timeline, take into consideration your current age, the age at which you would like to retire and the amount of income you'll need at that time to meet your lifestyle goals.
Risk management in a fiscal house is like installing insulation to protect your walls, floors and ceilings from the elements such as market losses or inflation. Risk management strategies and insurance products that can play a role in those strategies may include:
In the same way you take on home remodeling projects to keep your home updated and working for you, your fiscal house strategies should be reviewed at minimum on an annual basis to help ensure your portfolio stays on track to meet your needs. An experienced advisor can help you determine what changes make sense based on the objectives you hope to achieve.
How long do you need to maintain your fiscal house? In other words, how long do you expect to live and need your portfolio to provide retirement income? Your fiscal strategy should include elements of sustainability to help ensure that you do not spend down your retirement assets too soon. The following are a few sustainability issues to carefully consider:
Remember, understanding the above issues can impact more than your retirement income. They can have tax and legal consequences as well, which is why it is important to consult with a team of professionals, including a financial advisor, insurance professional, tax professional, and attorney.
Interested in learning more about how we can help navigate the journey toward your retirement dreams? Contact us to schedule a complimentary, no-obligation consultation.
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Address:
33 Wood Ave S.
6th FL.
Iselin, NJ 08830
Investment advisory services offered through Bravias Capital Group, LLC, a New Jersey State Registered Investment Adviser. RightBridge Financial Group and Bravias Capital Group, LLC are independent entities.
Licensed Insurance Professional. We are an independent financial services firm helping individuals create retirement strategies using a variety of investment and insurance products to custom suit their needs and objectives. This material has been prepared for informational and educational purposes only. It is not intended to provide, and should not be relied upon for, accounting, legal, tax or investment advice.
Investing involves risk, including the loss of principal. No Investment strategy can guarantee a profit or protect against loss in a period of declining values. Any references to protection benefits or lifetime income generally refer to fixed insurance products, never securities or investment products. Insurance and annuity products are backed by the financial strength and claims-paying ability of the issuing insurance company.