Above and Beyond Net Worth For Investors – PillarWM

Most investors wish to attain a high net worth by some point in their lives. Some want to become millionaires by the time they hit 40, while others are interested in reaching an ultra-high net worth before retirement. Increasing your net worth is undoubtedly important; however, many investors also strive to reach above and beyond net worth. If you are interested in seeing beyond your net worth and achieving your financial goals, please reach out to Pillar Wealth Management. Our wealth managers possess expertise in numerous financial areas and can leverage their knowledge to help you in various ways. You can learn about some of the financial planning strategies we use by requesting an exclusive free copy of our book 7 Secrets To High Net Worth Investment Management, Estate, Tax and Financial Planning For Families With Liquid Investable Portfolios Between $5 Million and $500 Million.

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STRATEGIES FOR FAMILIES WORTH $5 MILLION TO $500 MILLION

 

7 Secrets To High Net Worth Investment Management, Estate, Tax and Financial Planning

 

The insights you’ll discover from our published book will help you integrate a variety of wealth management tools with financial planning, providing guidance for your future security alongside complex financial strategies, so your human and financial capital will both flourish.

Clients frequently share with us how the knowledge gained from this book helped provide them tremendous clarity, shattering industry-pitched ideologies, while offering insight and direction in making such important financial decisions.

Looking Above and Beyond Net Worth

Wealth building is the primary goal for many investors across the country. After all, attaining more wealth gives you a chance to live out your dream lifestyle and overcome many life hurdles. However, simply having a high or even ultra-high net worth won’t prevent you from encountering challenges when working towards your financial goals. Please talk with our wealth managers to learn about the importance of looking beyond net worth.

So what does it mean to go above and beyond net worth? To answer this question, we need to recognize the differences between income and net worth.

Your income is simply the amount of money you earn from working in a given period. On the other hand, net worth is the total value of your assets minus your total liabilities. You can gradually increase your net worth by earning a steady income and limiting your expenditures. However, your net worth alone won’t guarantee you a comfortable life.

Going Above and Beyond Net Worth

So what is an excellent example of going above and beyond net worth? We would say earning a steady income that allows you to sustain your current lifestyle and also protect your wealth is more important than focusing on your current net worth. Some ways to increase your income and protect your wealth include:

Investing Wisely

As an investor, you may already rely on earnings from your investments as your primary income. However, you may not be utilizing your portfolio to its full potential. You should consider analyzing the various inefficiencies in your portfolio and make investment choices that offer steady returns while balancing risks. We discuss some ways to increase your portfolio performance in our special guide.

Managing your portfolio risks can be tricky. After all, all investments carry some form of risk that could jeopardize your wealth. If you can’t avoid such risks, you can still try to minimize the danger they pose. Allocating investments across different industries and categories is a great way to do this. You can learn about some expert tried and tested portfolio expansion strategies in our special guide.

Increasing Your Income at Work

Wealthy investors should also find ways to increase their work income. You may be wondering, “how can I go above and beyond at work?”. There is no simple one-size-fits-all answer for this question. However, you can choose to make decisions that prioritize your income.

For example, you can research different ways to boost your business’s revenue or to make your operations more efficient. If you work for a company, you can try setting up a side business that offers a bit of extra income and doesn’t take up too much time.

Following a Budget

If you wish to increase your net worth, you will need to earn a steady income and limit your expenses. However, you might have an easier time following along with this if you create a proper budget. Budgeting forces you to tally up your income sources as well as your expenditures.

You can start by breaking down your expenditures into wants and needs. “Wants” are non-essential items or luxuries that aren’t necessary for your survival. This includes buying fancy cars, going on vacations abroad, or purchasing the latest electronic devices. On the other hand, “needs” are essential items you cannot live without having. This includes housing, electricity, and food.

When creating a budget, you should strive to minimize expenditures on “wants”. This means the vast majority of your expenses will be on essential items you cannot live without. This doesn’t necessarily mean you need to live a frugal life. However, making a few lifestyle changes can go a long way in helping you boost your savings. Please talk with our expert wealth managers to learn about budgeting practices for wealthy investors.

Passing On Your Wealth

Wealthy investors face many challenges when passing on their wealth. This includes high estate taxes or difficulties dividing their wealth among their beneficiaries. It is possible to get around such problems by creating a proper estate plan.

The heart of any estate plan is a will that outlines how your wealth should be distributed following your passing. This will makes it easy for each beneficiary to understand precisely how much wealth they will receive.

Creating a will also frees your wealth from being distributed by the court system, which would otherwise be a lengthy and costly process.

Above And Beyond Net Worth

How a Wealth Manager Can Help

Wealthy investors who wish to look beyond their net worth can turn to many financial professionals for assistance. However, few are equipped to offer the type of guidance a wealth manager provides. Please talk with our expert wealth managers to learn how they can guide you.

Wealth managers are a special subset of financial advisors that offer expertise related to a broad range of services. They help manage assets and offer advice exclusively to high net worth and ultra-high net worth individuals. For example, at Pillar Wealth Management, we offer services for investors that are interested in investing between $5 million in $500 million in the near future.

Some of the services wealth managers provide include:

Portfolio Analysis

As mentioned earlier, it may be possible to increase your portfolio returns by analyzing them in detail. The good news is that wealth managers also offer portfolio analysis services. They can use their expertise to identify the various inefficiencies and risks present in your portfolio and suggest ways to improve your portfolio performance.

These professionals are familiar with various types of portfolios and can help you craft a better one that is more in line with your financial goals.

Asset Management

In addition to offering advice, a wealth manager can also help manage your assets for you. This service is valuable for investors who have many different assets and are having difficulty keeping track of each one. A wealth manager can monitor such assets for you and offer regular updates on their performance. You can learn more about asset management by requesting a special free copy of our book 7 Secrets To High Net Worth Investment Management, Estate, Tax and Financial Planning For Families With Liquid Investable Portfolios Between $5 Million and $500 Million.

You can also ask a wealth manager to perform buying, selling, or trading activities on your behalf. They can leverage their expertise to make decisions that fit with your investor profile. This allows you to focus on other ways to increase your income and protect your wealth.

Estate Planning

Estate planning is vital for any wealthy investor that wishes to go above and beyond net worth. A wealth manager can help you craft the perfect estate plan that ensures your wealth is transferred to your beneficiaries quickly and with minimal trouble.

They can also help you minimize estate taxes and set up trusts. Each of these is essential when you are trying to protect your wealth following your passing.

Tax Planning

Tax planning services are useful for investors that wish to maximize their income from investments. A wealth manager can identify different ways to make your portfolio more tax efficient. This service can help you with paying fewer taxes without breaking any laws.

Retirement Planning

Wealth managers also offer retirement planning services to help you go above and beyond net worth. The right retirement plan doesn’t just help with building retirement savings. It also entails setting up passive income sources that offer income in your retirement. These could be assets that provide steady returns you can count on.

How Do I Find the Right Wealth Manager?

If you are seeking a wealth manager to help you go above and beyond net worth, you will need to choose between the many professionals that offer wealth management services across the country. This can be challenging if you have never hired a wealth manager before. It would be best if you followed these steps in your search:

Check Your Network

A significant percentage of wealthy investors have used or continue to use wealth management services. This means you may be able to better understand the various options available to you by asking other investors in your network.

In this step, it may help to ask investors who have a similar financial background or net worth to your own about the wealth managers they use. These wealth managers are likely to be reliable and experienced if they are helping others in your network.

Internet Searches

If you would like to search for wealth managers independently, you should consider searching on the internet. A quick Google search can help you draw up an extensive list of wealth managers that offer services in your area. However, only some of these professionals will be suited to help you.

You can sort between ordinary wealth managers and great ones by reading online reviews left by their past clients. In these reviews, you should pay close attention to any mentions of the wealth manager’s reachability or expertise. It would help if you avoided any wealth manager who does not make time for you or fails to provide appropriate advice when necessary.

Test Their Knowledge

Once you have created your wealth manager list, you should try and speak with each one individually. Set up an introductory meeting or a phone conversation with the wealth manager and test their expertise. You can do this by showing them your portfolio and asking them how they can assist you with looking beyond your net worth. Additionally, you can ask them some of the questions we included in our guide to choosing a financial advisor.

A good wealth manager will offer personalized plans to help you achieve your financial goals. They should tailor these plans with your unique financial understanding and background in mind.

Why Choose Pillar Wealth Management?

Wealthy investors that wish to go above and beyond net worth should reach out to Pillar Wealth Management. Our wealth management experts possess six decades of industry experience and have assisted numerous clients with achieving their financial goals.

We understand the vital importance of trust in the wealth-manager and client relationship. This is why we offer a transparent pricing structure along with straightforward plans. Please set up your free meeting with us and start thinking beyond net worth.

Authors

To be 100% transparent, we published this page to help filter through the mass influx of prospects, who come to us through our website and referrals, to gain only a handful of the right types of new clients who wish to engage us.

We enjoy working with high net worth and ultra-high net worth investors and families who want what we call financial serenity – the feeling that comes when you know your finances and the lifestyle you desire have been secured for life, and that you don’t have to do any of the work to manage and maintain it because you hired a trusted advisor to take care of everything.

You see, our goal is to only accept 17 new clients this year. Clients who have from $5 million to $500 million in liquid investable assets to entrust us with on a 100% fee basis. No commissions and no products for sale.

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