WORTH MAGAZINE ARTICLES
Stocks, bonds, real estate and cash have long been the mainstream investments. In recent years, however, the number of dollars and investors moving into nontraditional assets has skyrocketed.
“Nontraditional assets” include such things as private equity, arbitrage strategies, private debt and macro event-driven strategies. While these can provide new investment opportunities, there are many factors to consider before adding nontraditional assets to your wealth-building plan.
Successful wealth management involves a variety of priorities. As your assets accrue, you and your advisor must consider issues such as wealth accumulation, diversification, growth strategies and tax management. The level of priority you assign to each of these issues depends on where you are in your life. However, overall risk management is too often overlooked.
Fiscal and child-development experts say that a person’s financial philosophy is formed at a young age. That said, there still is much parents can do for their children at any age to help them build a secure financial future.
When you envision retirement, you may find it easy to imagine a simplified lifestyle: You are working less, spending more time with family and traveling as you wish.
To achieve such goals, you definitely should plan now. However, it is just as important to recognize that this is not the only phase of your retirement.