Completing and Evolving Your Financial Strategy
Just like a soundly structured portfolio, a complete financial strategy contains many diverse pieces that work together (and in consideration of each other) to help you achieve your financial goals over time. As such, it’s essential that every component of your strategy be looked at through both an independent lens, as well as that of the bigger picture. Whether you work with just one financial professional or have a deep team with various specialties, the considerations below should be continually discussed and planned for together with transparency and clear communication as you continue employing the Perpetual Wealth Strategy™.
Hierarchy of Wealth
Just like Maslow's Hierarchy of Needs, there is a natural progression for meeting your financial needs: fulfill the most essential first before pursuing any other financial goal
Tax Advantages of the Wealth Maximization Account
When compared to alternatives, the Wealth Maximization Account - a dividend-paying whole life policy designed for maximum cash value - can have some of the most lucrative short- and long-term tax benefits available.
Growing Multi-Generational Wealth Through the Perpetual Wealth Strategy
There are two major destroyers of wealth: 1. unnecessary tax burdens, and 2. future generations without the adequate financial IQ to continue growing family wealth. The Perpetual Wealth Strategy is designed to help you avoid both in your financial plan. By implementing family finance practices now that incorporate tax considerations and involve your children in financial planning and decisions, you have the ability to establish a lasting legacy that includes multi-generational wealth for your family.
8 Tenets of Effective Whole Life Policy Management
You’ve launched an incredible financial strategy - one that has the ability to propel you toward maximized and protected multi-generational wealth when leveraged appropriately. As you move forward with the Perpetual Wealth Strategy™, there are core management tenets to start applying. Refer to them often to ensure that the primary purpose of your whole life policy is not only being met, but that it’s contributing to your overall financial strategy as intended.
Saving and Spending Smarter with the "AND Asset"
There are two common spending profiles most people fit into. The first is The Saver - the person who saves money for purchases in a bank account, then withdraws that money once it's reached its target amount. The second is The Debtor - the person who uses a credit card or line of credit to pay for purchases, then repays that balance over time, trying to get back to even. One major problem they share is failing to capitalize on compound interest. Here's how The Perpetual Wealth Strategist - the person leveraging their whole life policy as an "AND Asset" - acts on financial needs and opportunities without eliminating their ability to grow their wealth.
Your Personal Path of Financial Freedom
No two financial situations or stories are the same. Your path of financial freedom and the steps it entails will be unique to your life, interests, passions, and long-term goals. The Perpetual Wealth Strategy™ is designed to help you take control of your financial life and reap the benefits of the freedom that provides. The opportunities and asset classes below are only a handful of the types of decisions and investments that are possible to you through this strategy. Your financial goals may be satisfied by two alone or more than 20, but the bottom line is the same: your path is built upon a solid and reliable foundation that lets you pursue what matters most to you.
Year 1 Best Practices for The Perpetual Wealth Strategy
Your first year of adopting The Perpetual Wealth Strategy is an exciting one. You’re on a new financial path, have established a sound pool of resources, and will likely find that many new opportunities present themselves as a result. As you explore investments, family planning, or additional ways in which to use your policy, there are a few To Dos you won’t want to skip. Print this checklist and keep it handy throughout year one to ensure you’re getting the most from your strategy and your Wealth Strategist.
Asset Protections in Your Whole Life Policy
We live in one of the most litigious times in history. That means that your personal, business, and family assets are at more risk of lawsuit, judgment, and seizure than ever before. Storing foundational wealth in vehicles and strategies that offer the most protection possible is a key component of the Perpetual Wealth Strategy™. While there is no such thing as absolute asset protection, the very nature of your whole life policy provides barriers to four major financial risks and liabilities, keeping as much power as possible in your hands.
Typical Lending vs. Whole Life Policy Lending
Quick access to liquid capital is invaluable. Rather than locking away and restricting access to your savings, or requiring borrowing approval from an outside institution, The Perpetual Wealth StrategyTM allows you to access your money when and as you wish through the whole life policy loan. While it may not always be your best funding option for future purchases, investments, and needs, here are a few ways the whole life policy loan stands apart from typical lending options.
The Power of Mutual Insurance Companies
Banks and corporations hold billions of dollars in cash value life insurance. The providers of these policies, mutual insurance companies, have been some of the most proven and reliable companies in existence. From their foundational structure to their fiduciary responsibility and historical performance, mutual insurance companies can be one of the safest places to store your assets. Here are just a few of the ways their structure sets them apart from banks and other financial institutions.