Wealth Building

Chuck Maher - A Monument, Colorado Wealth Building Advisor

What is Wealth Building?

As an investment advisor, one of my greatest joys is helping clients to save for their future and build wealth.  Before we define wealth building, first, let's define wealth.  Wealth, simply put, is what you have accumulated.  It is money, assets and other things of value that provide for financial independence (the ability to walk off your job, or retire, and have nothing change in your life financially.)    Wealth building, then, is the process over many years of taking income and investing it so that it grows and works for you.

Wealth Building Strategies

There are many different wealth building strategies and while many of the tools used to build wealth are similar (401k, SEP, IRA, Mutual Funds, Stocks, Real Estate, etc.) each client's goals and story is unique.  To identify the right wealth building strategy for you we'll go through a process.

Define Your Goals

To start your goals need to be defined.  What is it you want out of life?  What are your dreams? What are you passionate about? How do you want to live?   What is your vision for the future?  Then, what will that cost and how much time do you have to meet your goals?

What Resources Do You Have?

Next, we need to identify what resources you have available to you.  While you might have a good income, wealth building is not about how much you make, but, about how much you save.  Or, as I like to put it, when you get to the end of the month do you have more money or more month left?  As we identify resources we'll also look at where you can make adjustments to create additional resources.

Where Should You Put Your Money?

To determine how to grow your money we'll analyze where you are now, where you ultimately want to be, then we'll research and present strategies for getting you there.  As I said, there are many tools available to build wealth but not all are right for everyone.  When determining the right strategy for you we need to look at the risk/reward factor and determine how comfortable you are with certain levels of risk.  While all investments have some risk, the balance between risk and return is important especially as you get closer to your goal.

When evaluating where to invest your money we'll look at the equities market, annuities, fixed income vehicles, mutual funds, life insurance, SEP, Single 401(k), Simple IRAs, and Roth IRAs, and faith-based investments, to name a few.  We'll also take into consideration your potential social security benefit, health care costs, long-term care, disability and any other plans you might need to consider. 

Re-Evaluate Your Financial Strategy

As with any strategy, finance related or not, there are always changes in circumstances that require re-evaluation.  That is why I recommend that we talk on a regular basis to ensure your stay on track.

Learn More About Wealth Building Strategies

To learn more about wealth building strategies call for your free consultation today... (719) 235-5028 or in Denver (303) 748-6352.

Wait! What?  You haven't heard from your financial advisor in a long time?  That's not right!  Call today for a Free investment plan review... (719) 235-5028 or in Denver (303) 748-6352.