Pursue Your Goals
Accumulation by definition doesn't happen overnight, it is a gradual and continual process over time. There is also no right or wrong way to accumulate wealth. Financially successful people can come from all industries and job titles including entrepreneurs and long-time employees. We believe having a financial plan can give you the motivation to work a little harder with the confidence that your hard-earned resources will be put to work towards the pursuit of your financial goals.
A Case Study: Wealth Accumulation
Edward has been building his real estate portfolio since his early 30s. Now that he is in his 50s, he has accumulated several rental properties and built up cash reserves that allow him to take advantage of real estate opportunities as they arise. Edward’s financial situation has become quite complex along the way and he now employs financial planning services to help him to organize and potentially grow his wealth with greater efficiency and diversification. Through financial planning, he is now better able to identify and address future tax issues as a result of the taxable nature of his rental income as well as isolate idle cash that could be invested outside of real estate to diversify his financial situation. This could allow Edward to increase his potential for wealth accumulation by being more efficient with his money while waiting for his next real estate opportunity.
This is a hypothetical case study that is intended to illustrate products and services available through LPL Financial. It does not necessarily represent the experience of other clients. The information and strategies presented are not appropriate for every investor. Individual clients should review with their Financial Advisor the terms, conditions, and risks involved with specific products and services.
Using diversification as part of your investment strategy does not guarantee a profit or protect against a loss.
