PROSPECTIVE CLIENTS › LIFE EVENTS
As we age there are many events that bring change to our lives. These “life events” impact not just our personal and professional lives and priorities, they also can impact our financial objectives. Below are a few of these life events and some of the topics an advisor at Russell Capital can help you consider at those times.
The melding of two lives may also be the melding of two different savings and investment philosophies. New investing goals need to be established with a clear understanding of potential short term cash needs such as buying a house or starting/expanding a family. These new goals will take into account your combined current incomes and expenses. An RCM advisor will help you formulate an appropriate portfolio to meet these needs. Now is also the time to update wills and consider a prenuptial agreement or Delaware Trust.
- Birth of a Child
Prior to or shortly after the birth of a child you should review your finances and investments with your advisor. The new addition to your family might need a college fund such as a 529 plan and you may want to add to your life insurance. Additionally, estate planning comes back into play at this time and you might want to consider a trust for your child and update your will. Your RCM advisor will help you navigate these topics.
- Inheritance: Legacy Planning
At Russell Capital we are committed to helping you protect, grow and enjoy your assets. To this end we can help you manage the process of spending for yourself and your family, while at the same time saving and investing for your heirs upon your death. In addition to a will, you may want to incorporate the use of trusts into your estate plan. Trusts can be valuable tools to safeguard assets as well as ensure that their future use is in keeping with your wishes. Other ways we can help at this time include coordinating philanthropic goals. Additionally we will help facilitate family meetings so that your heirs understand your wishes and are comfortable with your estate plans.
- Receipt of an Inheritance
A Russell Capital advisor will work with you to continue to preserve the legacy created by your loved ones and given to you. Your investment program will be redesigned to fit your new financial situation. This process will also include a fresh look at your spending, saving, and philanthropic goals. You might need to revise your estate plan at this time including your will and possibly incorporate the use of trusts for asset protection.
- Sale of a Business
Your estate planning needs at this juncture may grow and the establishment of trusts for your spouse and beneficiaries could be useful. Additionally, trusts may also make sense for asset protection. As these events are taxable, your advisor will help you consider if now is the time to consider charitable contributions that you may have been planning for the future. Most importantly, your Russell Capital advisor will help ensure that your assets, investment strategy and financial goals continue to remain aligned and that you are able to enjoy the fruits of your labor.
- Retirement: Prior to Retirement
A Russell Capital advisor will help you create a risk adjusted investment program to protect and grow your savings so that you are prepared to meet your retirement spending goals. Russell Capital provides discretionary investment management services for Traditional, Roth, Rollover, SEP, SIMPLE and individual 401k retirement accounts. In addition to tax advantaged accounts we can also advise you on individual investment accounts that you may have. By building an investment plan that takes into account all of your assets we can help you have better clarity on future income and give you greater peace of mind that you will not outlive your savings.
Upon Retirement we will continue to manage your investments to meet your income and spending goals. As markets fluctuate and needs and aspirations change we will work with you to continue to meet your objective.
- Death of a Spouse
Being aware of your estimated expenses and income after the death of a spouse is paramount to your financial security. A Russell Capital advisor will help you with three key areas of planning: 1) Knowing your expenses, 2) Having an idea of future income, and 3) Designing an investment strategy to suit your circumstances. Additionally we will take the time to make sure you are comfortable reading monthly investment statements as well as our quarterly performance reports.
A divorce has significant implications for your financial life. New individual accounts must be opened and a thorough review of your existing will, retirement accounts, and trusts should take place. An RCM advisor can help you with these matters. Additionally an RCM advisor will help you with three key areas of planning: 1) Knowing your expenses, 2) Having an idea of future income, and 3) Designing an investment strategy to suit your circumstances. In this way we can help ensure your financial goals are met.