It’s safe to say that many, if not most, of us have seen some disruption to our finances in recent years, thanks to a combination of a pandemic, inflation, high fuel costs, job changes and a tight housing market. As a result, we’ve lost some confidence as a nation about our ability to meet our financial goals in a way that doesn’t involve more risk than we’d like.
Because of this uncertainty, now is a good time to reevaluate our investment management and choose new paths, or at least alter our existing ones, in order to ensure that our finances are on the right track. One of the best ways to eliminate worry and achieve wealth goals is to seek the advice of a financial manager who can help steer you in the right direction. An investment manager’s job is to work with you to create both short-term and long-term plans that are tailored to your lifestyle, your income, your age and your specific goals, and then put those plans into action. This type of planning can be hard to achieve on your own. Engaging an investment manager makes it easier and less risky.
Some ways an investment manager can help include:
Tax matters. An investment manager will help you with the organization of your administrative tax matters so it becomes easier to file your taxes, take advantage of all tax breaks that might be available to you, and even lower your tax rate. By facilitating payments to other parties on tax matters, you can reduce the amount of time you spend on your personal tax management, eliminating the worry that you’ll make errors.
Portfolio balancing. If it’s been a while since your portfolio was balanced to reflect your income, your age bracket and your goals, it’s worth speaking to an advisor who can help you determine the right level of risk for you and investment allocations. What worked for you a decade ago might be hurting you now. In addition, there may be new products and services available that didn’t exist the last time you paid attention to your investments.
Investment opportunities. Chances are that you don’t have time to haunt the financial news every day to spot opportunities or avoid pitfalls. For an investment manager, this is part of the job. A skilled investment manager can keep track of and time market movements properly in order to more accurately implement portfolio changes on your behalf that will help you to take advantage of prevailing market conditions. This way, you can increase your gains over a shorter period of time.
Estate planning. Even if you’re young, it’s worth taking the time to engage in some estate planning, particularly if you have a family. An advisor can guide you through the steps necessary to protect your assets and ensure that you’re passing on as much of your wealth as possible to your heirs, with the lowest possible tax burden.
Consult With an Expert
Ultimately, the goal of an investment manager is to make money for their clients and eliminate worry.
Arizona-based Prime Wealth Advisors is a full-service tax, retirement planning, estate, and wealth management firm that can craft a robust wealth protection plan that will cover you, your business and your heirs. Call 623.77.PRIME or visit our website for more information.