For a married retired couple, it is an actuarial fact that one spouse will live to see age 92. They will spend $270,000 on food and $200,000 on their health care over a thirty year retirement living on a fixed income. Psychologists understand that an investor weighs the impact of an investment loss 2.5 times more heavily than a gain, yet will not appreciate that a non-diversified investment portfolio that loses 50% in value requires a 100% investment return to climb back to break-even. The insurance industry figures the risk of a home fire at 88:1 while the risk of a serious disability to a financial breadwinner is only 8:1, yet people commonly under-insure the more likely risk.
It is human nature to make less-than-ideal financial decisions because people are either too emotional or under-educated about how to manage their money. Too many people will outlive their money, not save enough, invest unwisely and leave too much risk unprotected. The fact is that most people need assistance managing their wealth at some point in life to avoid these financial pitfalls and we stand ready to help.
Wealthcare is a dynamic financial planning process that prioritizes your most important goals in life, determines your appropriate investment strategy and stress-tests your “Just Right” goal package to determine its chance for success over your lifetime. Using an innovative planning tool called Monte Carlo simulation, it solves for how much to save each year, how much investment risk to take, and the target age that you can retire comfortably, all with sufficient confidence.
Wealthcare planning will help you reach an outstanding outcome in life, to make smart choices about their money and to live life to its fullest without needless sacrifice to your lifestyle and to avoid unnecessary risk.
