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Wealth Planning: Defensive Strategies

Guest post by: C.J Lauria

Article Overview: Finding a qualified “Wealth Planner” is a subject for yet another day. Suffice it to say, I am NOT talking about the “Financial Planner” whose function is primarily to sell mutual funds and other commission-driven investment vehicles. When I talk about Wealth Planning I am referring to something that I do through reputable Investor Resources.

Wealth Planning: Defensive Strategies

Recently I wrote about winning through bulletproof defense rather than focusing solely on offense. Taking that same football analogy, let’s explore one defensive tip I like to share with business people who either are or will soon have assets to protect. Defense Tip #1- Purchase a personal liability or umbrella policy. This insurance policy can be purchased from your auto and homeowners insurance agent. This policy is called an umbrella policy because it acts like an umbrella over your car and your home which are where you are most at risk of being sued. Landlords, this policy would also cover you in the event of something occurring at one of your rental properties. If an event like this occurred the umbrella policy would kick in and provide coverage for your negligence or any other unpredictable liability (say a $3,000,000. judgement) so you don’t have to.

You may be surprised at how affordable these policies are. A policy like this will range between $30 and $50 a month. I don’t know about you but I can certainly budget for an expense like that. What I can’t budget as easily is a $3,000,000 judgment. I encourage those of you who do not already have a personal umbrella policy to take action now and contact your auto and home owners’ insurance agent and ask for a quote.

This is the first in a series of articles that will be walking you through how to implement a perfect financial defense. If you are serious about implementing such a plan and do not want to wait for the subsequent articles contact a qualified Wealth Planner to request your Perfect Defensive Plan.

Finding a qualified “Wealth Planner” is a subject for yet another day. Suffice it to say, I am NOT talking about the “Financial Planner” whose function is primarily to sell mutual funds and other commission-driven investment vehicles. When I talk about Wealth Planning I am referring to something that I do through reputable Investor Resources like Invesdoor.

An Investor myself, I know what the Investor needs in order to establish him/herself as financially independent and that is why I follow a different direction entirely. My approach is results-oriented and not driven by commissions. That is one important means by which you can qualify a Wealth Planner. In subsequent articles I will provide more tips on finding the right one for your portfolio.

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Article Tags: dollar cost averaging, finance industry, financial planner, investment vehicles, investor resources, mutual fund industry, mutual funds, personal finance, wealth planner, wealth planning



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Different Hats - CEO Sales & Marketing & Leadership Development Company Strategic Vision 10 Alliances & Growth Strategies 10 Hiring & Managing People 8 Mentoring 8-9 Strategic Planning for Clients 10 Execution of Marketing Campaigns 9-10 (i have great people who do the nitty gritty) Financial Management 9 Bookkeeping 3 (outsourced as I really hate the fine details like GST0 Administrative Follow Up 6-7 (again have great staff) Writing & Publishing 9 (getting better all the time!) Speaking 10 (so I have been told) Self Promotion 9-10 Web development & Promotion 6-7 (learning more and have brought on players who are 10+) Babysitting Employees (1 - wont do it, that's why I work so hard to hire and motivate the people I have) Great topic Kevin!! Jude
Re: FREE Toronto Referral Workshop - Kevin, I'll try to get a copy of the slides and summarize the 14 Strategies. Stay tuned!
Re: How do you make the most of your day? - Planning, To Do lists, and deadlines all help me. Also being self critical of my own time management helps me raise the bar. I still check email too often though.
Re: Success - I think it was Gary Player who said the harder I practice the luckier I become when it came to his success as a world class golfer. Planning and dedication to a task can make all the difference between success and failure. MichelleJ
Re: Quote of the Day - "If you hesitate, some bolder hand will s - Excellent quote, Evan. This reminds me of the saying, "The early bird catches the worm." It's important to act on impulses, rather than hesitate and plan. Planning isn't a bad thing and is warranted in certain cases, but those who act quickly will get a step ahead of the competition.


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