Wealth management is the sum of activities necessary to accumulate, protect, and transfer wealth. The wealth management approach to financial planning helps clients make important decisions about investments, retirement, insurance, taxes, and transferring assets to heirs.
Estate planning is the process of creating a master plan for the management of property during life and the distribution of that property at death. Done correctly, estate planning will give you more control over your assets during life, provide care for you when you are disabled, and allow for the transfer of wealth to whom you want, when you want, at the lowest possible cost. A good estate plan coordinates with your overall plans for business, investments, insurance, and employee benefits.
If you have changed jobs or recently retired you may be wondering what you should do with a 401(k) or other retirement savings account. A rollover IRA allows you to move your money out of your former employer's retirement plan without tax consequences or other penalties. With a rollover IRA you typically have access to more investment options and the ability to adjust your investment strategy as needed to reach your retirement goals.
Whether you are investing for retirement, college, or another objective, you are faced with the task of knowing how much you will need and choosing the appropriate investments to meet that goal. In a time when management of assets has become distant and impersonal, Sanstrum & Associates, Inc. is committed to establishing long-term relationships with clients and finding the best investment opportunities for them. Clients can expect unbiased advice, continuous supervision of their assets, and access to help when they need it.
Retirement planning is the process of evaluating a client's current financial standing and creating an accumulation strategy that will help them realize the retirement lifestyle they want. Because an individual's retirement years can span decades, retirement planning usually dominates other financial goals. A successful plan should address: where your retirement income will come from, how long your retirement money will last, options for distribution of your retirement funds, and how to make sure your family is financially protect.