Have you ever thought about wealth management? Not many people are aware of what it is, or the benefit of it. Put Simply, wealth management is using financial services to get the most from your funds. This includes most any financial services, including tax maximization and investment management. If you wonder to yourself, "How might I get more from the money I've saved?", then wealth management may be for you. To learn if you would benefit from wealth management, speak with your independent financial advisor.

Plan Your Retirement Correctly - Take a Lump Sum

As many wealth management clients reach retirement age, an important question usually comes up: Should I receive my pension in a single payout, or in regular payments? There are some special cases, but usually, you'll get more for your money by taking your pension in a single payout and re-investing it somewhere else. Here is why:

• An emergency: If you have decided to get monthly pension payments, you've no way to convert to a single payout or "get an advance" on payments. Liquidity in the case of an emergency is a big factor for many, and is certainly an important part of planning your future.
• The underlying investments: When you invest in employer-provided pension, you usually are not made aware of its underlying investments. Often times, the investments chosen do not line up with your risk appetite. By choosing a single payout and re-investing in a different retirement plan, you can earn more from your investment and, more importantly, truly be in control of your money.
• Taxes: Though there are some tax credits that you miss by choosing the single payout, funneling that money into an IRA yields more tax advantages than taking monthly payments.

Your independent financial advisor can advise you on these financial decisions.

You can learn more about fiduciary financial advisor Austin tx with only one phone call. Talk to your independent financial advisor for financial services. Get the most for your money you have earned.