The following segment first aired on KEDM 90.3 on June 17, 2015
Most of us will pass through three very broad phases to our financial lives.
During phase one, we attempt to create wealth. Phase two moves from wealth creation to wealth distribution. Phase three (wealth conservation) comes when you pass on your wealth through inheritance.
Let’s go back to phase two—the wealth distribution stage—if no one has told you yet, when you shift from phase one to phase two…all the rules change.
And, honestly, the best time to plan for wealth distribution is while you are creating it. (Podcast, 3:54)
Byron R. Moore, CFP® is Managing Director / Planning Group of Argent Advisors, Inc. Email him at firstname.lastname@example.org. Write to him at 500 East Reynolds Drive, Ruston, LA 71270 or call him at (318) 251-5858. The opinions of any single advisor do not necessarily reflect the opinions of Argent Advisors, Inc. No forecasts can be guaranteed. Argent Advisors, Inc. does not offer tax, insurance or legal advice. The information contained in this column should not be construed as a substitute for personalized investment, tax, insurance or legal advice.