Photo of Ray Ferrara CFP Ray Ferrara CFP May 10, 2022

Holistic wealth management is a valuable type of retirement planning. It encompasses mapping out how to expand, divide and safeguard wealth. This type of planning also accounts for means of income during economic recessions and other financial setbacks. This wealth management requires holistic forethought to ensure that you can manage any financial snares that might show up before or during your retirement. If you’re someone who’s planning for retirement, it’s important to know about holistic wealth management.

A holistic wealth management advisor will talk with you to understand your individual goals. They will take note of your personal and financial pursuits. From there, they can determine how your goals for the future can be accomplished while also saving for retirement. They will also inform you of investment risks so that you can grow your wealth. Your advisor will help protect your investments through strategies like tax alleviation and emergency funds. As part of your advisor’s responsibility to help protect your wealth, they will also counsel you on how you use your money. They can advise against or for certain financial choices you make with your retirement goals in mind.

4 benefits holistic wealth management can offer for those within 5 to 10 years of retiring

For those retiring within five to 10 years, holistic wealth management can offer a variety of benefits. Keep reading below to learn more.

  • Financial planning — Financial planning can help you avoid added stress to your life by strategizing for your future. Without strategies for the future, you could distribute too much of your wealth into one area of your life and neglect other important areas.
  • Cash flow analysis — A cash flow analysis can be beneficial for retirement because it helps your access to credit and preparedness for loans. It can also soften the impact of bad credit or overrun expenses.
  • Investment allocation and management — Investment allocation and management is valuable because it promotes investment diversification. It allows for reduced investment timing risks and optimal returns and can bring you closer to your planning goals.
  • Tax planning — If you’re within five to 10 years of retirement, tax planning is especially helpful for you. Tax planning can help you account for how much money you will be able to spend during retirement. This type of planning considers all kinds of taxes and how to reduce tax liability.

Planning for retirement can be especially tricky if you’re doing it alone. Let our specialists in wealth management guide you on your journey to retirement.

Talk to a ProVise CFP® professional about holistic wealth management

At ProVise Management Group, our CERTIFIED FINANCIAL PLANNER™ professionals can get to know you and your current financial circumstances, goals, risk tolerance, and personal values to help you develop a plan that works for you. We can also create a written plan for you at a fiduciary standard of care. All our written plans come with an unconditional money-back guarantee. If you are unhappy with your written plan, you can return it to us, and we will refund 100% of the fee paid.

Are you ready to talk to a professional about holistic wealth management? Contact ProVise today to schedule a complimentary consultation.