Managing one’s money is a serious task. It involves several interrelated considerations that are unique to each individual family. As well, when a significant portion of a family’s wealth is accumulated in a retirement plan or IRA, the task becomes even more daunting.
In my 30+ years as an investment advisor and financial planner, retirement plans such as profit sharing, 401(k)’s, and other company sponsored savings plans have become the primary tool for accumulating wealth for retirement. The decision to utilize such plans during your working years was wise and relatively easy one. At retirement, however, most individuals are simply overwhelmed by the combination of investment choices and tax considerations. With such uncertainty, most elect a path of least resistance, leaving the money where it is as long as possible.
Many individuals at or near retirement have accumulated a sufficient amount of money in 401(k)’s, IRA’s, Roth IRA’s and other qualified retirement plans to provide income and inflation protection for the rest of their lives. If these investments are properly handled, they can even provide a financial foundation for children and grandchildren. Unfortunately, too many times, taxes, inflation, and poor planning can keep this from happening.
As the manager of your family’s wealth you have a duty to do more than take the path of least resistance. As the CEO of your family’s wealth it is incumbent upon you to do your very best. The effort to do your very best begins with developing a plan.
My goal is to assist individuals and families to develop and implement a financial plan that maximizes every aspect of their wealth. Designing a plan that minimizes taxes and maximizes investment performance is also a part of that goal. This is accomplished by gaining a thorough understanding of my clients needs and desires, as well as, financial circumstances. This understanding, coupled with the vast resources of Raymond James, including tax and legal counsel when necessary, enables me to formulate and implement a sound financial plan for my clients.
Daniel E. Butler, CFP®
Raymond James Financial Services, Inc.
**Raymond James and its advisors do not offer tax or legal advice. You should discuss any tax or legal matters with the appropriate professional.