Good planning for retirement boosts the likelihood that you'll have a successful, happy retirement period. This isn't just a general rule of thumb. Specific planning steps will help you in different ways during the three common stages of retirement. What are these? And how can you leverage planning to avoid typical problems during them? Here's what you should know.
1. The Honeymoon Stage
When a person first retires, they often go through a joyous honeymoon-like period of freedom and leisure.
Are you worried your wealth is vulnerable to different risks? Wealth depletion can happen because of threats from political upheaval, legal suits, family mismanagement, adverse taxes, and inflation. Asset protection is a legal term that refers to taking steps to safeguard one's assets from these threats. Asset protection is a key pillar of wealth management to ensure longevity and growth. So, what role does asset protection play in ensuring your wealth is sustained?