Fidato Wealth

Comprehensive Fiduciary Advice

Flash Report

What Are Your Biggest Financial Concerns?

It goes without saying that you play a crucial role in making the decisions that will determine whether you will achieve your financial dreams. That’s why it makes sense to have great clarity about the specific financial issues and concerns that are most important to you and the people you care about. Only then can you take steps designed to address them. In our experience—and supported by research—we find that affluent investors tend to share five major key concerns about their financial futures. Think about your own financial life as you review the following top concerns. You may have additional issues that are unique to your specific situation, but chances are that many (and maybe all) of these challenges are on your list.

CONCERN #1: Preserving wealth.
The goal with wealth preservation is to produce the best possible investment returns consistent with your time frame and tolerance for taking investment risk. Preserving wealth throughout one’s lifetime has become the single biggest financial issue that most of today’s affluent investors face. Just ask yourself this question: How sure are you that you have, or will eventually have, the wealth that is required to meet your needs, reach your various goals and live the life you want?


A vast majority of affluent investors are asking themselves this very question. In one landmark study:

  • Nearly 90 percent said that they were quite concerned about preserving their wealth.
  • Nearly three-quarters of investors—71.5 percent—said that they worry about having enough money to last throughout their retirements.

What’s more, we find that these issues have consistently been at the top of the list for the majority of affluent investors year in and year out.


CONCERN #2: Enhancing wealth.
The affluent also tend to want to enhance their wealth by minimizing the tax impact on their financial picture. Tax mitigation has been a particularly important issue among the affluent in recent years, due to a great deal of discussion in Congress about increasing taxes on high earners and those with significant assets.

CONCERN #3: Transferring wealth.
Do you have a plan in place for passing your wealth on to family members, either now or down the road? If so, is it up to date and does it reflect current laws—as well as your family’s current and future needs, goals and level of wealth?

It is very easy to ignore this crucial concern because addressing it requires asking yourself uncomfortable questions, such as how you want your assets to be distributed at death and when your heirs will receive an inheritance. But failing to ensure that your wealth goes exactly where you want it to go can lead to much greater discomfort later and have serious ramifications on everything from your ability to help your family members achieve their goals (such as a college education) to the long-term success and sustainability of a family-owned business.

CONCERN #4: Protecting wealth.
Affluent families don’t just want to preserve their wealth against losses in the financial markets. They also seek to protect their assets from being unjustly taken from them by a catastrophic loss, potential creditors, litigants, ex-spouses and children’s spouses, and even identity thieves.


This means that successful wealth management planning may also need to address wealth protection— controlling risks through business processes, employment agreements and legal forms of ownership.

CONCERN #5: Donating wealth.
Increasingly, affluent investors are looking outward beyond their own families to the world at large. For these investors, making meaningful gifts to charity in the most impactful way possible is becoming a key issue. Charitable giving comes with its own unique set of challenges—from selecting the appropriate means of giving to selecting causes and specific organizations that will have the biggest impact. Any gifting strategy you put in place should be set up for maximum effectiveness, of course. At the same time, however, you must ensure that your philanthropic objectives are in balancewith your other key financial goals, such as retirement and the long-term financial security of your family.


Obviously, no one can be certain what the future holds when it comes to the government’s decisions about tax rates and other aspects of the tax code. If you’re ignoring the issue and waiting for 100 percent clarity, you’ll probably be waiting a long time! Tax mitigation needs to be a key part of any financial plan for you and your family regardless of the political environment at any given moment in time.

Fidato Wealth LLC is a Registered Investment Adviser. Please note that the use of the term “SEC Registered Investment Adviser” and description of Fidato Wealth LLC and/or our associates as “registered” does not imply a certain level of skill or training. This brochure is solely for informational purposes. Advisory services are only offered to clients or prospective clients where Fidato Wealth LLC and its representatives are properly licensed or exempt from licensure. Past performance is no guarantee of future returns. Investing involves risk and possible loss of principal capital. No advice may be rendered by Fidato Wealth LLC unless a client service agreement is in place. If you are not the intended recipient, or the employee or agent responsible for delivering the message to the intended recipient, you are notified that any review, copying, distribution or use of this transmission is strictly prohibited. If you have received this transmission in error, please (i) notify the sender immediately by e-mail or by telephone and (ii) destroy all copies of this message. Please note that trading instructions through email, fax or voicemail will not be taken, as your identity and timely retrieval of instructions cannot be guaranteed. If you do not wish to receive marketing emails from this sender, please send an email to sayhello@fidatowealth.com. This article was published by the VFO Inner Circle, a global financial concierge group working with affluent individuals and families and is distributed with its permission. Copyright 2024 by AES Nation, LLC. Fidato Wealth is not affiliated with AES Nation, LLC. AES Nation, LLC is the creator and publisher of the VFO Inner Circle Flash Report.

DOWNLOAD A PDF VERSION OF THIS ARTICLE HERE

TONY D’AMICO, CFP®
FIDATO WEALTH LLC

7530 Lucerne Drive, Suite 400, Middleburg Heights, OH 44130 

Office: 440-572-5552 

FidatoWealth.com