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- Do Less
- Plan in Real Time
- Capture Info
- Know Your Numbers
- Plan Your Own Retirement
If you want to accomplish more, then, counterintuitively, you need to do less. Have a to-do list longer than your arm? Do you complete only 1/3 of the tasks on the list every day and then feel guilty for not completing the other 2/3rds? If so,your to-do list isn’t helping you; it’s hurting you.
How can I increase the amount of income my clients receive from their investments? This is the number one question I receive from Financial Advisors as I travel the country which is why I am writing this series of articles. I trust you will find them helpful too.
There are four ways to increase client incomes.
- Income-only Plan
- Systematic/Partial Withdrawal Plans (SWP)
- Combination of SWP and Annuitization
In the first two articles of this series, I wrote about the Income-only Plan. Now I am writing about the second alternative which is the Systematic/Partial Withdrawal Plan (SWP). To utilize this plan, you must choose one of three strategies:
Probing for the Environmental, Social, and Governance (ESG) issues that are important to your multi-generational UHNW/HNW families will allow you to assist in creating a family wealth vision statement. When families possess significant wealth and already have a history of philanthropic giving, such a statement is meant to guide future gifts.
Should my client exchange one life insurance policy for another? This is an excellent question which I receive from advisors around the country. Unfortunately, the answer can be “yes, no, or maybe.” depending on your circumstances. A number of complex rules govern this transaction, and as we know from all other areas of wealth management, there are always exceptions to the rules. Read the fine print or better yet, find a subject matter expert to help you explore the options.
Environmental, Social, Governance or ESG investing is a term encapsulating the following related investment categories:
- socially responsible investing
- responsible investing
- impact investing
- ethical investing
- values investing
- green investing
- sustainable investing
- Investment issues in corporate governance such as gender and ethnic diversity in addition to pay equity in all areas of management.