Exciting News & Updates from The Wealth Group
The Wealth Group has officially opened its second location in Franklin, TN! For many years The Wealth Group (TWG) has explored the possibility of opening a second physical office location. The team has served clients in 30+ states over the years and has seen a large percentage of our upper-Midwest clients matriculate south over time. […]
When Inflation Gets Personal
The Colby family van (affectionately called “the Party Bus”) was recently totaled in a car accident. Thankfully, there were no major injuries to the passengers, but it was a complete wreck of an excellent motor carriage that had faithfully transported my family 130,000+ miles over the past eight years. An “aspirational” motor carriage for large […]
The Importance of Saving Early… and I Mean Early
My family and I are currently going through old bins that have been collecting dust in storage for years. As one can imagine, it’s a long process that brings with it many difficult determinations about what to keep (always too much), and what to toss (never enough). The project has been greatly enjoyed by my […]
Part 6: Estate Planning
Our financial legacies are built over the course of our entire lives. Naturally, we want to be sure that everything will be administered and transferred according to our wishes. But how do we know that will happen when we’re no longer here? The best way to be confident that your assets will go where you […]
Part 5: Risk Management
The topic of risk management is oftentimes misunderstood and misused in the world of financial planning. Risk management, or insurance planning, simply addresses the following question: is there a potential catastrophic financial risk in your life? If the answer is yes, insure that risk. A catastrophic risk would be one that causes substantial, long-lasting financial […]
Part 4: Tax Planning
Tax planning is one of the most misunderstood areas of financial planning. From the complexity of how income taxes, Social Security taxes, and various investment taxes are calculated, to the fact that the tax code changes in some capacity almost every year, it’s no wonder that people are confused when it comes to this subject. […]
Part 3: Retirement Planning
Retirement planning means different things to different people. We all have different ideas of what life should look like after closing the chapter of our careers. However, even with countless unique perspectives, there is one statement that has applied to every person I have ever worked with: “At some point, I do not want to have to […]
Part 2: Investment Planning
A few years ago, I watched my then 6-year-old skip gracefully out the front door, across our porch, and finally into our chicken coop. She glided through that door with a twirl—naturally—and emerged a few minutes later with her basket crowded with the freshest eggs imaginable. Her return trip began with the same leap into […]
Part 1: Cash-Flow/Budget/Debt Planning
Cash-flow planning—many people get uncomfortable the moment this topic arises. It is very likely the most personal part of personal finance; it is also very likely the most important part of your long-term financial plan. We talk often about how having a grasp of your month-to-month spending plan is paramount to your retirement planning success. […]
The Seven Major Areas of Financial Planning & Wealth Management
Over the coming weeks, we will be reviewing what we consider to be the seven major areas of personal finance. Many of you have seen our Pyramid of Financial Planning below, as we use it often to demonstrate how the various pieces of wealth management are inter-related. I encourage you to watch the introduction video […]
