Your Dreams Matter.
At Donato Wealth Management, we believe everyone should be able to live the retirement they’ve always wanted. Our team of professionals can help you create a well-thought-out strategy, using a variety of investments and insurance products and services, to help you address your financial needs and concerns.
What is Wealth Planning?
Wealth Planning is a client-centered process focused on developing a roadmap to help clients build, protect, and transition their wealth by looking at all areas of their financial life including retirement, tax, legacy, and business planning.
Portfolio management, at its core, is the art and science of investing capital with the goal of maximizing investment returns at a specific, desired level of risk. At one extreme end of this spectrum are ultra-aggressive investment strategies that seek to maximize return with a high appetite for risk. At the other extreme end of the spectrum are ultra-conservative investment strategies that seek to minimize risk, understanding the potential limitation on return potential. For any strategy in between, there is an optimum point at which the desired risk level matches an expected return. The line that accounts for these various risk-return combinations is called the “efficient frontier”.
Because every investor has different risk tolerances, time frames, and income needs, the strategy with which to achieve an investor’s investment goals will be different from one investor to the next. That’s why we at Donato Wealth Management believe every portfolio should be as unique as the fingerprint of the investor who owns it. The job of any portfolio manager is thus to work with each individual to help clarify needs and objectives, and then make informed recommendations as to what investments are appropriate for them.
Our goal is to help ensure your expenses can be paid month to month with reliability and predictability for the rest of your life. This typically includes:
- Social Security maximization
- Income and expense analysis
- Inflation plan
- Spousal plan
- Longevity protection
Once your income plan is established, we will create an investment plan for the remaining assets that you do not need to draw from month to month. This typically includes:
- Assessing your risk tolerance
- Adjusting your portfolio to reduce fees
- Volatility control
- Evaluating ways to reduce risk while still working toward your goals
- Comprehensive institutional money management
Just owning a house is one thing, but how can you make that house work for you. While one of the simplest ways to recoup money spent on a house is to spend it, that isn’t always a practical option. It isn’t even always the best option. But your estate is more than just your house – it includes all of your tangible, and at times intangible assets. Real property, vehicles, pieces of artwork, and valuable items are only a few pieces of the puzzle. Planning out your estate is a complex, oftentimes arduous task – let us help you with a few simple steps.
There are multiple elements to an estate, all of which should be considered in the formulation of a plan. When most people think of an estate, the first thing that usually comes to mind is a will. A will allows you to specify your precise wishes on how you want your property to be distributed among your family and others. This is something that should be updated regularly, as certain milestones are met – setting a conservator for your children’s care may not be necessary after a certain age, for example. Another element is a trust, which holds your assets to for the benefit of one or more people, such as your children, your spouse, your pets, or a business. A trust is set up with the assistance of an attorney, as it is a legally binding document. Life insurance is one of those topics that most people don’t discuss until it is too late. A life insurance policy is designed to protect you and the beneficiary in the event of something tragic, and it can be a crucial element of any estate plan. Another element of an estate are gifts, which are transfers of property that are made during your lifetime, either to a family member, a friend, or to a charity.
Some of these topics may be uncomfortable. Planning for a future where you aren’t present always is, but it is imperative to have some plan set in place before then. In having your desires spelled out, you can prevent future hardships. During your lifetime, choices can be made that offer you benefits with your taxes, such as write-offs. Your estate is a central part of your life, and the life that will go on after yours. Planning ahead protects your family, and those closest to you, while also ensuring that your wishes for their lives are met.
As registered investment advisors, it is our duty to help make the best choices that benefit you, as our client. When planning an estate, that is our only goal. We understand the difficulty of such a topic, and are here to assist you in any way you need. When planning your estate, we will help you determine the average of your current income, and likely future income, annual expense, current assets and debts, and the tax implications that can hinder or assist your estate. These details allow us to set out a plan that meets your needs and your wants.
Contact us, and we can begin the process of preparing for your future.
Any comprehensive retirement plan will include a strategy for decreasing tax liabilities. This typically includes:
- Assessing the taxable nature of your current holdings
- Possible IRA planning
- Strategizing ways to include tax-deferred or tax-free money in your plan
- Strategizing which tax category to draw income from first to potentially reduce your tax burden
- Discussing ways to leverage your qualified money to leave tax-free dollars to your beneficiaries
Health Care Planning
We will create a plan to help you address rising health care costs with a minimum of expense, including:
- Looking at all aspects of Medicare, Parts A, B and D
- Analyzing options for a long-term care plan
It is important to ensure your hard-earned assets go to your beneficiaries in the most tax-efficient manner. By working collaboratively with a qualified estate planning attorney, our goal will be to help you:
- Maximize your estate and income tax planning opportunities
- Protect any assets in trust and ensure they are distributed to your beneficiaries probate free
- Prevent your IRA and qualified accounts from becoming fully taxable to your beneficiaries upon your death
This is one of those topics that nobody likes to think about – life after work. It’s never too early to start preparing for your retirement. We can assist you in making these plans so that you, and your grandchildren, are prepared for the future. From how much money you should be taking out of your paychecks, to the types of investment options available to you that can help to grow your financial profile, we have your back. Retirement does not have to be a taboo subject and, in our opinion, it shouldn’t be. Planning ahead is the right move, not only for you, but for your family.
When planning your retirement, one of the most important steps is to determine the lifestyle you want after you’ve finished working. Do you want to live similarly, or exactly, as you are now? Do you want to live beyond your current means? Do you want to continue having sources of income that don’t require you to go to work every day? These questions are just a few that will be covered, so that a plan can be devised to meet your needs, your wants, and to help plan ahead for any surprises that may come up in your post-working life.
The amount of money set aside or invested is key to the success of any good retirement plan. It is key to answering the questions laid out above. If you have a style of living that you don’t want to give up, you need to have enough money set aside to get you through that period in relative comfort, all without having to go back to work once you’ve finally settled down. We are here to help you pinpoint the style of life that you want to maintain in your retirement, so that when you reach this stage of your life you aren’t simply prepared – you’re completely set for life.
For some, these plans include setting aside something for their children after their gone. For others, this includes setting aside something for an annual vacation. For others, still, this includes preparing for long term medical care. Everybody’s path is different, but that doesn’t prevent us from helping to lay out a plan that can cover the basic unknowns. These include, but are not limited to, drastic changes in health that require long term care, the death of a family member, unexpected accidents, such as a fire, earthquake, or flood. There are a number of circumstances that might put someone back at square one, but by being prepared in advance, you won’t be caught off guard. This is simply one of the services that we offer, here.
Don’t be afraid of retirement. Don’t be forced to go back to work, because of some unexpected occurrence. Be prepared for the future, its ups and downs. These are your golden years for a reason – and it’s important that you enjoy them.
Contact us today, and we can help you lay out a plan for your future in retirement!
We offer services in these three areas:
Prepare for retirement by putting your hard-earned assets to work.
Retirement Income Strategies
Protect the assets that can help you live the retirement you’ve always imagined.
Asset Protection Strategies
Long-Term Care Strategies
Provide for the people and causes you care about the most.
IRA Legacy Planning
Prepare for retirement by putting your hard-earned assets to work.
Trusts Probate Charitable Giving Estate Planning Tax Planning
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THE NEXT STEP?
For more information about any of our products and services, schedule a meeting today.
Investment advisory services are offered through Foundations Investment Advisors, LLC and is a SEC registered investment advisor.
Investment advisory services are offered through Donato Wealth Management and is a SEC registered investment advisor.