Mastering Wealth Management During Major Financial Changes

Experiencing a significant wealth event, whether planned or unexpected, can bring substantial changes to your financial life. These events might include the sale of valuable assets, an inheritance, a legal settlement, or a windfall from success in your career. With the most significant transfer of intergenerational wealth currently happening, particularly among women, understanding how to manage newfound wealth is more critical than ever.

The key to successfully navigating a significant wealth event is preparation. Before the event occurs, it’s essential to assemble a financial team, consider tax implications, and establish a budget. During the event, avoiding impulsive decisions and finalizing a long-term wealth management plan are vital steps to help protect your assets. After the event, implementing and reviewing your plan with the help of a financial advisor ensures that your wealth continues to work for you, safeguarding against risks such as fraud and maintaining your financial legacy. By taking the right steps at each stage—before, during, and after a wealth event—you can preserve your wealth, maintain your lifestyle, and help secure your financial future.

The foregoing material is for information purposes only and does not purport to be a complete description of the material referenced herein, nor is it a recommendation. The information has been obtained from sources considered to be reliable, but there is no guarantee that these statements, opinions or forecasts provided herein will prove to be correct. Any opinions are those of J. Blum & Associates Wealth Management and not necessarily those of Raymond James. All opinions are as of this date and are subject to change without notice. There is no assurance that any investment strategy will be successful. Future investment performance cannot be guaranteed, investment yields will fluctuate with market conditions. Every investor’s situation is unique, and you should consider your investment goals, risk tolerance and time horizon before making any investment. Prior to making an investment decision, please consult with your financial advisor about your individual situation.

#582619