The recent educational seminar hosted by Kowal Investment Group, “Keeping Family Wealth in the Family,” featured Kowal’s own Chaunsy Weisensel, a seasoned financial advisor who shared his insights on effective wealth management. It also included John F. Koenig, Esq. from Elder Law, and Chris Berens from Horicon Bank. This session provided valuable strategies for families aiming to preserve and enhance their financial legacy.
Key Insights from Chaunsy Weisensel on Retirement Planning
Chaunsy emphasized the crucial role of proactive wealth management in securing a family’s financial future. “Once you reach a point in your life where you’ve accumulated significant wealth, the question becomes how do I grow it? How do I take income from it? And how do I pass it on to my loved ones?” Chaunsy illustrated the importance of growth and preservation strategies tailored to each family’s unique needs.
- Role of Wealth Planning
Wealth planning is more than just saving; it’s about strategically managing wealth to benefit future generations. Chaunsy noted, “Our objective is to help grow your wealth for yourself and future generations—managing the risk by creating a diversified portfolio to preserve assets, yet having growth to participate as the markets go up.”
- Building a Trusted Team
The importance of assembling a team of independent professionals cannot be overstated. “It is incredibly important to have a team of trusted local professionals… We feel that having a team of independent professionals like John and Chris helps create a set of checks and balances,” Chaunsy shared, highlighting how such teams ensure that all financial and legal advice serves the client’s best interests.
- Planning for the Unexpected
Chaunsy discussed the importance of planning for unexpected life events. Sharing experiences from his practice, he underscored the need for comprehensive planning that includes protection from unforeseen health issues and other life changes. “We are there when things get scary and difficult…when the markets get down, when adult kids and maybe even grandkids have to come home to live with you, divorce, addiction, when you or your partner face health issues, including dementia or cancer.”
Financial Planning Take-Away
At the end of the seminar, Chaunsy urged attendees not to procrastinate on financial planning. “Action is the foundational key to all success,” he quoted, stressing the urgency of taking decisive steps to secure a financial future without delay.
Join Us in Our Next Seminar
The seminar provided actionable insights into wealth preservation and growth, emphasizing the necessity of a well-rounded approach to wealth management. For families looking to secure their financial legacy, starting early and planning with the right team are crucial steps towards success.
Attendees were also given the opportunity to ask questions they had about retirement planning and talk with our panel of experts. If you would like to gain even more information and be given the opportunity to have our team answer your questions, we host educational seminars, like this one, regularly. Visit our Events page for more information!
Disclosures:
This material is being provided for information purposes only and is not a complete description, nor is it a recommendation. Please note, changes in estate, retirement, and tax laws may occur at any time and could have a substantial impact upon each person’s situation. While we are familiar with the estate, retirement, and tax provisions of the issues presented herein, as Financial Advisors of Kowal Investment Group, we do not render advice on tax or legal matters. You should discuss tax or legal matters with the appropriate professional.
Kowal Investment Group, LLC (“Kowal”) is a Registered Investment Advisor. Kowal will maintain all applicable registration and licenses as required by the various states in which Kowal conducts business, as applicable. Kowal does not provide legal, accounting, or tax advice. Consult your attorney or tax professional. Representatives have a general knowledge of the Social Security tenets. For complete details on your situation, contact the Social Security Administration.
