3 Financial Strategies To Consider If You Have A Portfolio Worth Millions
Even though financial planning investment strategies are available literally everywhere on the Internet, not all advice is applicable to everyone. For example, people with a net worth of $1 million or more probably won’t benefit from average investment advice for those with smaller portfolios.
Consider these 3 financial strategies if you have a multi-million-dollar portfolio you want to leverage.
Lessen tax payment:
Taxes are inescapable, but the sum you pay every year does not have to be. There’re many actions that can be taken to get rid of paying higher taxes.
We know that taxes can be a confusing and time-consuming process, but we’re here to help you understand them better. Our financial planner in Mississauga can review your finances in detail to find ways to reduce your tax burden. This helps ensure you avoid paying more than you have to, putting more money in your pocket while also offering a superior level of financial security at the time of retirement.
Diversify your investment portfolio:
People are living longer than ever before, and interest rates are lower, so it’s important to have a diversified portfolio that provides stability while also limiting risk. The best portfolio will let you whether inflation without exposing you to extensive risk.
Individuals with high net worth habitually miss out on strategies that aid them efficiently manage their wealth. At Haunn Landers & Co, we can analyse your income to determine which investments may generate the most cash flow for the future. Our certified financial planners in Mississauga can help you come up with a customized investment plan that meets your needs.
Take your healthcare needs into consideration:
Be sure to include projected medical expenses in your financial plan. Neglecting to do so can be risky since health issues typically increase with age, and inflation rates for healthcare expenses continue to rise faster than the average for other expenses.
As part of our wealth management services, we can help you plan for your long-term medical expenses as well. We’ll go over your projected health care costs with you so that you can prepare for them and other expenses in retirement.
If you want to maximize the value of your portfolio, get in touch with Haunn Landers & Co today. Our experienced financial planners in Mississauga are committed to transparent business practices and client satisfaction. Contact us today to learn how we can help you create investment strategies that meet your needs. For more information call at 905-821-8224.
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