As I was entering the financial services profession in 1999, my training wasn't adding up. I saw my parents struggling to make ends meet in retirement and I knew then there had to be a better way. I was taught to ask a person about their risk tolerance, I was taught to use math and calculators, I was taught to suggest one should postpone taxes for as long as possible, I was taught to suggest one use a college savings vehicle like a 529 plan to prepare for their children’s college expenses, I was taught to sell the least expensive insurances I could and so forth. Here is what I discovered: A better question to ask than risk tolerance is “when is a good time to lose money?”, math does not equal wealth and wealth is not math, postponing taxes also postpones the tax calculation and who really knows what tax bracket they will be in 20, 30 or 40 years, college savings vehicles like 529 plans take after-tax capital out of circulation for the family, placing it in a box only to be given away to the college of choice never to be heard from again creating tremendous lost opportunity costs for that family and buying cheap insurance produces cheap, often times, devastating results for the family. If, after reading this it causes you to re-think how you are going about building and accumulating wealth, we will have a really great working relationship and have a great deal of fun putting this together for you and your family. If, on the other hand you would prefer to follow a more traditional path and do what everyone else is doing in the hopes it will produce the results you are looking for, I wish you the best. Once you understand the three dates that have completely altered the face and future of the American retirement system, you'll immediately know that old-world ideas are not going to solve these new-world problems. The problems that concern most people now and in the future are TAXES, RISK, INFLATION, GOVERNMENT INTERVENTION, PRODUCT PENALTIES and LACK OF LIQUIDITY.The one thing that remains constant with traditional financial planning options is that you, the consumer, is the only one at risk in these programs.To summarize, over the past 60 years, very little has changed in the traditional approach to planning for your future and the unintended consequences that can result.On a personal note, I truly enjoy Single Malt Scotch, Golf, Skiing, Travel, Football, Hockey and Weight Lifting. ▶ To learn more, simply message me on LinkedIn or email me at Pluchau@mycoastalwealth.com.To Your Success!Paul720-291-5090
Listed skills include Leadership, Estate Planning, Financial Planners, Fixed Annuities, and 32 others.
