top of page
Financial and Wealth Planning Needs for Individuals and Families
Education Savings:

  • Importance: Planning for education expenses is critical.

​​

  • Statistics: Gen Z and Millennials carry a higher burden of education loans compared to older generations.

Estate Planning:

  • Importance: Seeks to ensure assets are distributed according to wishes and minimizes taxes and legal complications for heirs.

​​

  • Statistics: Only 33% of Americans have a will or living trust in place, highlighting a significant gap in estate planning. (5)

Tax Planning:

  • Importance: Seeks to minimize tax liabilities and optimizes financial outcomes.

​​

  • Statistics: Financial advisors often include tax planning that aims to ensure clients maximize their after-tax returns.

Retirement Planning:

  • Importance: 66% of Americans believe their financial planning needs improvement, especially in retirement preparedness. (1)

​​

  •  Statistics: Social Security is expected to cover about 28% (2) of retirement funding on average, with personal savings and retirement accounts making up the rest (Northwestern Mutual).

Emergency Savings:

  • Importance: Having a sufficient emergency fund is key to financial stability.

 

  • Statistics: Many Americans lack confidence in handling unexpected financial emergencies without proper savings.

Debt Management:

  • Importance: Managing debt, including credit card debt, student loans, and medical debt, is crucial.

​​

  •  Statistics: The average American's personal debt, excluding mortgages, stands at $21,800, with credit cards being the primary source of debt at 28%. (3) 

Investment Planning

  • Importance: Helps individuals invest their wealth and pursue long-term financial goals.

 

  • Statistics: 63% of investors are willing to pay for advisory services compared to 38% in 2009. (4)

bottom of page