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Wealth Management Helps Prepare for the Unpredictable

It's more important than ever to prepare for unforeseen situations.
Stay informed to save you time, money and headaches
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Stay informed to save you time, money and headaches
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Stay informed to save you time, money and headaches
According to a report by Northwestern Mutual, most Americans know that they need better financial planning, but many haven't made the first steps towards ensuring their future. Economic stumbling blocks like the collapse of Social Security, which three-quarters of Americans don't expect to be available when they retire, are predictable. But many seem to find wealth management challenging.
Setting Goals and Working Towards Them
78% of Americans are worried about affording their retirement. It seems like a wide swath of people could benefit from wealth management that could help them save more for retirement. A wealth manager works with an individual or family to form the long-term vision for their life and the financial goals that will support their future lifestyle. Then, the wealth manager provides choices for assets and investments through a responsive, dynamic, and client-focused practice.

Ensuring Your Legacy
Estate planning, in the form of a will or living trust, is a critical wealth management tool that works to protect your assets and keep your family comfortable when you pass away. However, according to a Caring.com survey, only four out of ten Americans have estate planning in place.

These kind of documents are an essential part of a healthy wealth management strategy. They are also critical for easing the process of inheritance (and for naming guardians for any children under 18).
Being Smart about Investing
If you have assets that you want to invest, a wealth management advisor can help you get the best return for the level of risk you are ready to take on. However, wealth managers can offer services to a broader set of people than investment advisors.

For example, if you are a small-business owner, your wealth manager might tell you that the best use of your cash is putting it back into developing your business, instead of portfolio investing, to increase the value you can eventually get for it when advised to sell. Wealth management guidance uses a broader toolkit of financial practices to build wealth, working from your assets as they are to develop to your goals.