From Roof to Foundation

June 12, 2019
An introduction

For our debut series, we’re exploring the core of our entire financial philosophy. Much like a house, your financial map depends on multiple components that, when maintained in harmony, work together to give it strength.

Picture this – You live in a gorgeous home. Sprawling walls. Towering ceilings. Luxury appliances. The finest furniture and décor. It’s the American dream (on the surface).

In reality, there’s a crack in the foundation. Your picture-perfect fantasy could come crashing down at any moment. Everything you worked for could be ruined in an instant due to dangerous structural damage.

Reality check: Your finances are exactly the same.

By failing to account for every crucial component of your monetary building, you put your family’s wealth in danger. That’s why we like to focus on the ‘complete financial picture’ based on four key areas: Protections, Assets, Liabilities and Cash Flow.

So, where to begin? Let’s start with the time-tested motto: ‘Protect first.’

This series, titled All Under One Roof, examines important protections necessary to securing wealth and ensuring a prosperous legacy into the future. Like a roof, they’re absolutely essential. (More on that later.)

For now, get to know the featured knowledgeable financial professional who will share his passion for protection over the coming weeks.

 


 

 

Series contributor: Simon Friedman

Partner, Friedman Associates

Before joining BFG over a decade ago, Simon Friedman amassed years of family insurance and financial services experience under his legendary father, Samuel D. Friedman. In the first year of his career, he earned a coveted seat at the Million Dollar Round Table, and has since gone on to qualify for the distinguished Presidents Council.

His belief that protections are ‘the basis for all wealth’ has inspired countless clients to build solid foundations before acting on their ambitions. In our next article, we’ll hear from Simon on a deeply personal topic that can leave a gaping hole in your lifelong finances. It’s something too many shy away from early in their financial lives: the will.

Simon Friedman is a Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. 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.

You may also like

3 Questions for Your Financial Future. Part 1

The first few InFocus articles were testing ground. Along with the positive feedback, we also learned about our readership’s appetite. Heads of household, homemakers, businessmen...

3 Questions for Your Financial Future. Part 3

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...

3 Questions for Your Financial Future. Part 2

Last week we explored timing in relation to financial planning. Still, you may be wondering: Once I get married and move on from the comfort...

The Future of the InFocus Column

What you can expect over the coming months The first few InFocus articles were testing ground. Along with the positive feedback, we also learned about...

From Roof to Foundation

An introduction For our debut series, we’re exploring the core of our entire financial philosophy. Much like a house, your financial map depends on multiple...

Where There’s a Will, There’s a Way

According to our home metaphor, protection come before assets, before liabilities—even before the income you bring in each month. The fact is, without adequate protection,...

A Matter of Life and Death

Estate planning isn’t exactly glamorous. But like other aspects that make up the ‘roof’ of your financial home, life insurance is essential to protecting your...

With Wealth Comes Worry

America is the land of the litigious. In other words, it’s a lawyer’s market. From scalding hot café drink to cracks in the rich neighbor’s...

Raising the Roof

Series Recap As discussed over the past 4 articles in our All Under One Roof series, it pays to stress the importance of minimizing risk....

Assets & Liabilities

An Introduction In our last InFocus series, we explored how protection is so critical to your wealth and prosperous legacy down the generations. You may...

Mid-Series Checkup: Did you get all that?

So far in our ‘Net Worth’ series, we introduced you to assets and liabilities. We also broke down how the economy and other factors can...

Rate of Return: Let’s Get Real

A wise person once said, “Invest in inflation. It’s the only thing going up.” Jokes aside, that is some pretty smart advice. It’s no secret...

How to grow through tax season

Last time, we let you know how the tax impact of compounding negatively affects your net worth. In other words, we (gently) hinted at the...

Why compounding isn’t always cool

Did you know tax liability plays a huge role in determining your net worth? Just because an investment is making money doesn’t mean you get...

Planning Your Financial Future

While most people already understand the importance of financial planning, many of us start working and earning money long before planning seems necessary for retirement....

Arrow Prev
Arrow Next

Check the background of our investment professionals on FINRA’s BrokerCheck

Broker Check