3 Questions for Your Financial Future. Part 3

June 12, 2019

To finish out our three-part column on creating your brightest financial future, let’s talk about smart money management. That means making your money work for you, not just you working for it.

As discussed, the right financial advisor can help you set goals and boost your income. But where should all that money go? Luckily, you can make money grow without putting your hard-earned savings at risk.

The goal? Meet your lifestyle goals

Managing your money correctly can help you marry off your children with financial confidence, build a nice little nest e for retirement, and so much more. It all begins with understanding the variables at play.

The typical approach (set a goal and calculate time and rate of return) is rarely enough. Most planners fail to consider The Real Cost of LivingTM, which is also a primary factor in when your focus is ‘protection first’. According to The Living Balance Sheet®, other key forces affect your ability to save:

  • Cost-inflation of goods and services
  • Rising (or unstable) tax rates
  • New products and inventions
  • Changing standards of living

So, how do you put your money to work?

Making more of your wealth does NOT mean funneling your cash into some high-risk venture. The best way to maximize earnings over the long term is actually to invest in stability. The role of a trusted financial advisor is to help change your mindset, so you see opportunities to grow your money through low-risk strategies.

*https://www.thelivingbalancesheet.com/get-the-right-advice

Provided by BFG’s highly accomplished group of financial professionals specialize in life Insurance, disability, succession planning, tax planning, investments, and other advisory services. An agency of GUARDIAN®, BFG has become a trusted resource for larger financial decisions. bfgny.com

Brooklyn Financial, which is the doing business as (DBA) name of Guardian Distributors, LLC, is an Agency of The Guardian Life Insurance Company of America® (Guardian), New York, NY. Securities products and advisory services offered through Park Avenue Securities LLC (PAS), member FINRA, SIPC. OSJ: 7 Hanover Square, New York, NY 10004, 1-888-600-4667. PAS is an indirect, wholly-owned subsidiary of Guardian. Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation. *The Living Balance Sheet® (LBS) and the LBS logo are service marks of The Guardian Life Insurance Company of America (Guardian), New York, NY. © Copyright 2005-2018 Guardian. 2018-70904 Exp. 12/20

 

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