Your Harvest,
Ready When You Are
From sowing to reaping, the harvest has different stages that require different strategies. The same goes for your financial life cycles.
WEALTH MANAGEMENT
A farmer's life is a grueling one. Sun up to sun down, sowing seed and tending fields all in hopes of having a plentiful harvest. We wouldn't have groceries in the stores if they didn't wake up to their calling. Thank God for Farmers.
Now you're probably not a farmer. You might dislike the country or even hate the feel of dirt under your finger nails. Rest assured that you don't have to become a farmer to have a financial harvest. You just need to operate in the same manner to be successful.
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Like a farmer's life, most people work from sun up to sun down in their own craft. It may not be as physically demanding but can be just as mentally treacherous. You have enough on your plate mastering your own craft then to have to worry about finances daily. You don't have the time to wonder if you have enough money to meet your present financial needs or if you can even retire some day, if you so choose.
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Financial Craftsmen have set out to educate and serve the financial needs of our hard working American Craftsmen. Whether you started your career yesterday or have mastered your craft over decades, you're somewhere in your financial life cycle. Learn about the stages of The Financial Life Cycle so you can be better prepared for your financial harvest.
The Financial Life Cycle
Accumulation
The first stage in life when you are working on building wealth and your focus is on accumulating assets. Most individuals in this stage have a higher risk tolerance because there is more time to make up any losses from market exposure and can out weigh loss with market gains.
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"The seed for your harvest is gathered and sowed."
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Preservation
In life's second stage you need to start preserving assets that you have accumulated. This can be done by reducing risk and taking other protective measures. Even though some may still be comfortable with a moderate risk tolerance, the time to retirement is less and so it's best to start investing a bit more conservatively.
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"As your harvest grows you have to protect it from the elements and pests that will surely come."
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Distribution
For the third life stage, you are finally drawing on the assets that you have accumulated, which serves as your source of retirement income. If all has performed well, you should have a sizable harvest to draw from. With proper management and strategy, your savings should last your entire retired life.
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"The harvest is ready, you can begin reaping."
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Transference
The final stage of your financial life cycle is when you have passed away and your assets are transferred to your heirs. This stage is crucial, as the action you take ahead of time can provide your loved ones with a sizable inheritance or sizable taxes. And, with correct planning, a smooth transition with little stress for your loved ones can be provided.
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"You did well, now it's time to pass on the field."
Do you have a financial harvest to look forward to? Do you know what stage of your financial life cycle you are in? How about how much risk you are adverse to or how long your money will last in retirement?
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Some people know the answers to these questions and others find themselves standing in an empty field. Financial Craftsmen long to help both in moving forward to an abundant financial life now and in retirement.
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Our mission is to provide quality advice, planning and investment guidance and strategies customized to each individual’s particular circumstances.
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Our process is accomplished through:
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Review of Current Financial Position
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Financial Planning (Wealth, Debt, & Emergency Fund Management)
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Retirement Planning (Solutions, Strategies and Investments)
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Education Funding (Plans and Investments)
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Insurance Protection through a needs based analysis for Life, Long-Term Care, and Disability Insurance.