WORTH MAGAZINE ARTICLES
We are excited that Richard P. Slaughter Associates has partnered with Worth magazine to provide articles for the bi-monthly publication. Slaughter Associates has long focused on sharing our knowledge and educating our clients, potential clients and partners, so this opportunity was a natural fit for us.
A well-constructed financial plan is essential regardless of one’s relationship status. However, navigating life as a single person is different than it is for couples and requires different areas of focus in financial planning.
In this quarter’s issue of Worth Magazine, Amy Kothmann defines four key areas that single individuals should pay close attention to during their wealth planning process.
While cognitive decline is a broad phrase, it is very important to recognize any symptoms – such as making poor financial decisions or falling victim to financial fraud. In fact, declining ability to make or understand financial decisions is often one of the first recognizable signs that something is wrong.
It’s not an easy assignment but creating a plan today could alleviate even greater headaches in the future. Here are some of the steps we recommend you take.
When my father started Richard P. Slaughter Associates in 1991, he felt strongly that delivering wealth-management advice and services in an environment of integrity and graciousness would ensure long-lasting success. Over the years, we’ve discovered several business practices along these same principles that generate the kind of employee buy-in necessary to achieve this kind of success.
As your wealth grows, effectively managing your assets can become more complex, requiring expertise in a multitude of areas, including investment, insurance, tax and estate services. And while it is beneficial to have independent, trusted professionals, it is crucial that these professionals work as a team, with a shared understanding of the goals of the client.
Whether a particular affluent family is new to wealth or has grown into this status, its members will always be wise to perform meaningful due diligence to determine what wealth management services they need and what professionals are best equipped to help them reach their financial goals.
For anyone who has worked hard to build, then sell, a business, considering both the emotional and financial aspects of the event will yield a more successful result.