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As the year winds down, it’s time to pause and reflect. Wealth builders who take a proactive, intentional approach to managing their financial lives know that an annual review isn’t just a task. It’s an opportunity to refine their strategy, address risks, and ensure their plans align with the bigger picture.
This isn’t just about investments. True wealth building takes a 360-degree view of your financial life, including taxes, estate planning, insurance, etc. Start your annual review with these three essential questions to lay the groundwork for a more robust, smarter year ahead.
1. Does My Wealth Align with My Goals and Lifestyle?
Your wealth should be a tool to support your priorities and aspirations. But your goals can shift as life evolves, whether through career changes, family milestones, or new opportunities. It’s essential to revisit and recalibrate.
Deeper considerations:
Do my financial plans and resources support my current goals and future vision?
Have any changes in my personal or professional life require adjustments?
Why it matters: When your financial strategy aligns with your lifestyle and priorities, you create clarity and momentum. Regularly evaluating your goals ensures that your wealth always works toward what matters most to you.
2. Am I Protecting What I’ve Built?
Risk management isn’t just about preparing for market downturns—it’s about helping safeguard every aspect of your financial life. From securing your income to ensuring your estate is in order, taking a broad view of risk is key.
Inquire Deeper:
Do I have the right insurance coverage to protect my family and income?
Is my estate plan up-to-date and aligned with my wishes?
Am I prepared for potential tax law or regulation changes that could impact my plans?
Why it matters: Protecting your wealth means thinking holistically and addressing everything from financial markets to health and estate concerns. A comprehensive approach ensures you’re resilient in the face of unexpected events.
3. Am I Taking Full Advantage of Opportunities?
Wealth building isn’t just about preserving what you have; it’s about helping maximize your potential for growth and impact. There are always opportunities to enhance your financial plan, from optimizing taxes to strategic philanthropy.
Ask yourself:
Am I using tax-efficient strategies like Roth conversions or tax-loss harvesting?
Are my charitable giving plans aligned with my values and tax strategy?
Have I reviewed my investments, trusts, and other financial vehicles for inefficiencies?
Why it matters: Unlocking opportunities allows you to grow your wealth strategically, optimize your financial structures, and create a greater legacy for the future.
Your Annual Review Starts Here:
Building and maintaining wealth is about more than numbers—it’s about creating a strategy that reflects your goals, protects your future, and positions you to seize opportunities.
These three questions are just the starting point for a meaningful review. If you’d like help diving deeper, let’s create a comprehensive, personalized plan together.
Schedule a consultation today and take the next step in building your financial future.
DISCLOSURE:
Investment advisor representative of securities and investment advisory services offered through Cetera Advisor Networks LLC, member FINRA/SIPC, a broker/dealer, and Registered Investment Advisor. Cetera is under separate ownership from any other named entity. In addition, some Investment advisory services are offered through Fulcrum Wealth Advisors, LLC. Fulcrum Wealth Advisors, LLC is a registered investment advisor in the State of Washington.
Branch Address: 10940 NE 33rd PL., 210 Bellevue, WA 98004 Branch Phone: 877-400-0260
Cetera Advisor Networks LLC exclusively provides investment products and services through its representatives. Although Cetera does not provide tax or legal advice, or supervise tax, accounting or legal services, Cetera representatives may offer these services through their independent outside business. This information is not intended as tax or legal advice. All investing involves risk, including the possible loss of principal. There is no assurance that any investment strategy will be successful. Converting from a traditional IRA to a Roth IRA is a taxable event.