Real Estate Advisory Services in India

As you progress through life your financial wants, needs and priorities will evolve. In fact, early in your career, you will be focused on accumulating as many assets as you can, within your scope of employment or business ownership. But as your working years draws to anend, your retirement will call for a precise and methodical distribution of your wealth, to protect you and your family.

This is where Wealth Management will benefit you.

But preciselywhat is the meaning of Wealth Management ?Is it merely investing your funds in a financial product and expecting to earn a return on that investment?

As far as what is the Wealth Management , also known as private wealth management definition goes, it is defined as a practice that combines personal investment management, financial advisory and planning disciplinary which will financially benefit high networth clients. By opting for a goal-based approach to financial planning and mapping your goals with fixed lifecycle stages, you will gain an an in-depthanalysis of how your financial investments now will impact your standard of living and investments in the future. 

As you can see, there is more to what is the meaning of Wealth Management, and this is where the lifecycle of private wealth management  will play an important role. Each lifecycle, also classified as age groups, will have its own unique financial needs. By using the goal-based approach to planning, your wealth management advisor will help you analyse and be aware of the financial tools, products and strategies available to help build and manage your wealth with the changing timeframes, risk tolerance and the end goal. They will also assist in laying the foundation for the next ‘lifecycle’ stage, where you can preserve and transfer your wealth.

Given below is the lifecycle of this investment management:

Early career: Early career phase clients, between ages 25 to 35 years, have the perfect opportunity to start building a foundation for a secure financial future. This is also the time, where there is an accumulation of required assets, such as investing a home, or planning to start a family. While you may be keeping an income in step with your expenses may be a challenge, it is also an important step to lay the groundwork for your retirement saving now.

Career development: Between ages 35 to 45, the earning will rise to its peak level. However, at the same time, the financial demands will also increase. Your primary concern will be covering educational costs and payongoing expenses. But at the same time, you can start diversifying your investment portfolio to include stocks, bonds, property and insurance amongst many others. With the guidance of your wealth management advisory, you will be recommended with the best plan that will help you manage your current assets or align your tax and debt structure to best meet your financial goals.

Peak accumulation:This is the stage between the ages of 45’s to the 60’s. In this stage, you will reach your maximum income level. It will also provide financial opportunity to accelerate savings and investment savings, due to the ‘empty nest’ phase, where your children will be independent and lower expenses where all your debts are paid off. Here is the time to analyse your current investments and evaluate your financial retirement plan distribution options. You can focus on reconstructing your portfolio assets to reduce risk and increase income.

Retirement:The final financial lifecycle phase occurs around mid-60’s. Here the focus will now shift from wealth accumulation to income preservation. Here, wealth advisors will assist you to preserve your purchasing power and enjoy your desired lifestyle. You will also be recommended to plan out your legacy considerations and even your estate plannings.

By now, you may have an idea of what is the  investment management definition and how the lifecycle stages will be applicable to you. With the right wealth management assistance, you will now invest in a personal and secured financial future, that will suit your needs.