RGW Wealth Management understands how important financial planning is for the future. Helping people achieve their financial goals since 1995, RGW believes in tax-smart financial planning with a mission to minimize taxes, maximize after-tax wealth, and enable better long-term outcomes for clients. Below are three things to keep in mind throughout your planning process.
· Review your short-term needs and long-term financial goals– Let the recent world events serve as a reminder to make sure your finances enable you to fulfill both your short-term needs and long – term goals. Everyone’s personal situation is different. It remains of critical importance to have your own strategy in place to make sure short - term needs will be met in an optimized fashion – covered from market pullbacks & unanticipated emergencies. With confidence your short - term needs are covered, review your long – term financial goals and work towards implementing a strategy to help you achieve them.
· Know where you’re at and where you’re going – Take inventory of your current situation. What do you own and what do you owe? Review outstanding debt and determine if there are opportunities to refinance at lower rates. Get an accurate picture of what your inflows and outflows are. Once you have this down, review or start thinking about what you want to achieve in the future and develop a tax - smart plan to help get you there.
· Know Your Investments - Examine your current investments and the various accounts they are located in. Is your current strategy in alignment with your goals? Are they positioned in the most tax efficient manner? Review your investment options and select based on your own unique objectives. Always consider your own risk tolerance.
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