Financial Planning is diligently managing your finances to achieve your financial goals. It is important to cover all the fundamental components that will make your financial plan effective. At Kings Road Wealth (KRW), our goal is to cover these pillars of wealth to provide you with a thorough and concise financial plan that would work for you.
Wealth Protection
- Have you ever imagined that one day your are suddenly out of job or that you got sick and can no longer work for a period of time? How will you provide to your family or continue your current lifestyle with no steady flow of income? It’s like a scenario that could happen only in a movie but these events can happen in real life. That is why wealth protection is utmost important in all the pillars of wealth. Unexpected situation in your life may happen that can dent your finances and may cause some financial losses. With proper planning in protecting your wealth, at KRW , we can help you manage the risk of financial setbacks and ensure your lifestyle remains the same.
Wealth Maintenance
- Climbing to the top is not easy, staying on top is even harder. After certain number of years, you were able to finally have a sizable savings and starting to live the “good life”. The next goal is to maintain the wealth you have worked hard for over the years and not spiral down. It is ideal for you to have a positive cash flow and and manageable debt to maintain what you already have. At KRW, we can provide guidance on how to properly manage your cash flow and give inputs on how to lessen borrowings and credits.
Wealth Accumulation
- Thinking on how you can afford a vacation to Fiji? or making computation as early as now how much you need to save so you can retire early and comfortably? or how about finally being able to buy your dream house? With your current savings it seems impossible attain those dreams but at KRW, we can guide you in how to accumulate and build your wealth overtime to attain your financial goals in a realistic and timely fashion. We can help you develop a proactive savings plan and make reasonable investments.
Wealth Enhancement
- Eventually, you are able to save substantial amount of money and have a manageable debt. After wealth accumulation, enhancing and growing your investment is the next step. Letting your money sit in the bank hardly yield any return. At most, it gives at least 2% annual interest or even less. Instead of growing your money, your are actually shrinking it as the value of money changes overtime. Your 100 dollars today will have a different purchasing power in 20 years time. It is important to continue to reinvest your hard earned money to protect it from depreciation. At KRW, we can assist you manage your investments based on your preference and risk tolerance. With proper planning and execution, we can continue to enhance your wealth and provide better returns.
Wealth Distribution
- No one can live forever but you can plan ahead how you can leave your legacy in this world. With estate planning, you can arrange beforehand how you want your wealth to be distributed to your loved ones or to any charitable institution of your choice.
At KRW, we can help you get started on your financial plan. You can begin by:
- Identifying your financial goals – Think of what you want to do in the next few years. Do you want to take a 2 year sabbatical and travel the world? Do you want to start paying off some debt? Once you have a concrete idea of what you want, you can start from there.
- Assessing your current financial status – Knowing what are the source of your income, current savings, and existing liabilities is important. Once you’ve identified your weaknesses and opportunities, it will provide you an approximate of how close you are to your financial goal.
- Managing your resources – Once you have a goal in mind and evaluated your financial position, you can start budgeting your expenses and saving. You can start looking into investments that fits your risk tolerance and choosing what is appropriate for you.
KRW can create a comprehensive financial model that is personally tailored for you and put you on the right direction. There may be hurdles along the way but we will be here to help your overcome them. Financial planning is about organising and being in control of your finances and not the other way around.
