financial advisor

7 Tips to Keep Your Wealth and Assets Safe

If you have worked hard to reach your financial goals and you’re finally living the lifestyle you’ve always dreamed of, it can be scary to consider the prospect that it could all be taken away.

Don’t lose sleep at night wondering if the money you’ve worked so hard to accrue will be yours as long as you need it! There are ways to protect your wealth and assets, so even in unforeseen circumstances or an emergency, you won’t lose everything you’ve worked so hard to earn. It would be advisable to consult legal financial services such as Caple Royalty to address your concern.

Know When to Hire the Right Attorney

It is extremely important to know when to hire the right attorney. Dealing with legal issues can get expensive fast, so making sure you have the right person on your team can go a long way towards protecting your wealth.

For example, If you’re injured in an accident, much of your money could go down the drain on medical costs. Hiring an attorney is important, but you have to make sure you hire the right one. According to Attorney Brian White, “Since most personal injury attorneys work on contingency, you may end up receiving less money if you hire a mediocre or inexperienced attorney.”

Going through a divorce? Even if it’s relatively civil, you should still hire an attorney. Struggling with a business partnership? An attorney can help you find a resolution that doesn’t require you to pay more than you should. When in doubt, schedule a consultation from a reputable law firm like Kania Law Office to see how an attorney can work to protect you and your assets.

Plan Your Estate and Keep It up-to-Date

When you think of estate planning, you probably think about what is going to happen to your money and your assets after you pass. This is an extremely important thing to think about. Proper planning can prevent family squabbles and issues, but it’s not the only kind of plan you should have.

If you have multiple assets and multiple streams of income, it is extremely important to plan how they will be used throughout your lifetime. For example, a trust might be used to pay for a child’s education, while earnings from stocks may be used to pay certain bills.

Make sure you revisit your strategy often. This ensures that you’re keeping money in high-yield accounts and you’re covering all of your costs without any shortfalls.

Hire a Financial Advisor You Trust

For those with wealth and multiple assets, hiring a financial advisor is a no-brainer. They can provide you with services that include:

  • Guidance on developing an investment strategy
  • Asset allocation
  • Minimizing taxes
  • Rebalancing a portfolio
  • How to time retirement account withdrawals

They can also provide you with support when making decisions that make you feel uncomfortable. An advisor can keep your fears and emotions in check, which is extremely important when making decisions that will affect your assets, your income, or your portfolio.

Don’t Put Primary Assets in Your Name

There are many reasons to start a trust. It can allow your family to avoid probate when you pass, it’s a great way to pay for a child’s education, and it can be a great way to support a charity that you feel passionate about.

It can also protect your assets while you’re alive. For example, putting a sizeable investment in a trust with your children as beneficiaries can keep you from losing the money if you’re sued. You can also hold other things, like an expensive car, in a trust in order to keep your name out of public records.

It’s also important to separate personal and professional assets. That way, if you’re ever sued professionally, they can’t come after your personal assets, and vice versa.


A lot of people talk about diversification, but it can be more tempting to put all of your eggs in one basket. When the possible returns seem massive, you may want to go all-in, but a more restrained approach is always the best approach.

Diversification means utilizing a variety of investments to get the biggest return on your money, but it also means diversifying other aspects of your wealth. For example, having a financial advisor is important, but you may want to add a stock broker to your team. You may want to have traditional accounts in the United States, but you may also want to consider trying an offshore account. Diversifying in a variety of ways can help you best protect your wealth.

Don’t Rely Upon Homestead Exemptions or Bankruptcy

It’s surprisingly easy to get reckless with your money, even if it doesn’t seem reckless at the time. That’s because declaring bankruptcy often meant that you could clear away your debts while keeping many of your assets. At least, that’s what it used to mean. Those declaring bankruptcy today aren’t so lucky.

Today, homestead exemptions are limited and changes to the bankruptcy code mean you’ll end up losing a lot more of your assets than in the past. Not to mention, it leaves the future of your wealth in the hands of a bankruptcy judge, which means you aren’t going to fare so well.

Don’t Be Overly Flashy

Protecting your assets and wealth often involves complicated legal documents and in-depth strategizing, but it also includes common sense. You’re just as at risk of theft as you are of suffering a bad day at the stock market.

Don’t be overly flashy with your wealth. That doesn’t mean you can’t buy that boat or the Ferrari that you’ve always wanted, but it does mean that you should keep pictures off of social media. It’s also a good idea not to bring up your purchases or your wealth with the wrong crowd. Even family can get greedy and do something rash to affect your wealth and assets in a negative way.

Just because your money is sitting in a high-yield savings account doesn’t mean it’s safe. From houses to cars to cash, there are many things you should be doing to keep your wealth right where it is so you can enjoy it for a lifetime.

Why You Should Major in Finance

Finance is a popular major in most colleges with great potential to carve a fulfilling career in diverse industries globally. It is a field that covers money management and the creation of sustainable investments. If you are looking for the best degree program that will impact your daily life, then finance is a perfect choice. Most students think that you only have to be a math guru to pursue finance. While math is essential, you also need to be an effective communicator, critical thinker, and problem solver depending on your specialization.

Finance promises a rewarding career and helps you to become a better manager of your money. For instance, it may be creating a budget, saving a part of your salary, and investing in profitable ventures. Students who opt to study finance can work in various business roles, such as general manager, budget analyst, financial manager, loan officer, credit analyst, personal financial advisor, and financial analyst. You can get employment in government institutions, banks, or corporate organizations. Hence, the job market is quite favorable for finance degree holders.

However, it would help if you carried out independent research before settling to do finance. Know what it takes to become a financial expert. Are you ready to commit your effort, time, and money? Are you ready for long study hours to ace all your exams? If you choose to plunge into finance, you can seek help from professional essay writing service such as, to ease your academic burden. Forget the anxiety of submitting substandard finance assignments and let the experts score you better grades to boost your academic performance.

Here are the reasons why finance is the right major.

Job Market

As mentioned above, finance has the potential of earning you employment in various industries. It guarantees you a job after graduation since it is quite marketable. Financial professionals are on demand since not many people know how to deal with financial matters. If you have a finance degree, you can work in investment companies, brokerage firms, insurance companies, plus many other financial institutions.

Even if you fail to get formal employment, you can open up a consultancy business and become a personal financial advisor.

Career Growth

Many people want to pursue a degree program that offers a chance for growth in the corporate ladder. Research shows that finance has a growing percentage of growing job prospects globally. However, it’s better to keep abreast of what is currently happening in the job market.

Many financial experts grow tremendously in their careers to become the most sought-after individuals in the corporate world and the personal lives of wealthy business people.

Financially Rewarding

Besides having numerous job opportunities, finance offers lucrative remuneration packages. It offers the professionals a stable income that can go up to six figures depending on your role. Most of the financial job positions are managerial since money management is a critical aspect of both small and large organizations.

Students who major in finance are quite fortunate because it is a career field that withstands economic storms. Rarely will you find a company downsizing and laying off financial experts due to financial difficulties. If anything, the finance department should save the company by managing assets and investing in the right markets.


Students who major in finance are cautious when it comes to spending money. In a finance class, you are taught on budgeting, spending wisely, saving, and investing to create wealth. Finance plays a huge role in daily expenditures, such as buying groceries, household shopping, and living on a budget. It trains you to become a financial manager by practicing self-discipline, especially when it comes to consistently saving a percentage of your income. In the long run, you will lead a productive life and have savings for a rainy day in case any emergency arises.

Narrow Focus

Finance is business-related but with a narrow focus. If you want a diverse field, you can opt for accounting or business management degrees. Although it does not cover a wide array of disciplines, the major has numerous job opportunities for exploration. You are not limited to one area of expertise. Financial graduates can take over the boardroom in corporations, become financial analysts in banking halls, or financial managers in an investment firm. Identify your area of specialization and set yourself apart in the competitive job market.


Any intellectually capable individual can study finance and ace all the papers. But, to be an all-round financial expert requires more than a smart brain. You can be good with numbers, but with an introverted personality, the corporate world may be overwhelming if you are not a people’s person. A finance career needs an outgoing person with a bubbly personality. You should be an effective communicator to meet clients and explain about money markets and the best investment strategies. Thus, before you opt for a finance degree, ensure that your personality will not prevent you from getting the top job.

Better Investment

Finance is a helpful major since it teaches you how to invest money. No matter how inexperienced you are, you will learn the ropes and become a professional investor with time. Finance has topics on investments where you learn when, how, and where to invest to reap significant profits. Also, you will make smart decisions when it comes to capitalizing on either startups or large companies.

Although students have different abilities, interests, and passion, pursuing a finance degree will guarantee you a lucrative career due to the numerous job opportunities. However, it does not come easy since you have to put in the effort and time to attain impressive academic results. Ensure that you possess excellent interpersonal skills since you will be communicating with people in the workplace. Finance makes you a critical thinker as well as a problem solver since you are a financial analyst who advises clients on the best investment strategies that will create wealth. Apart from a degree, you must also be intelligent with a great personality to make it in the financial world.

Some Lesser Known Financial Hacks to Help with Your Startup

When you are starting your own company, you are doing a brave and noble thing. However, you may not know how to manage your company’s money, how to keep your company going in the beginning, or how to get through the toughest of times. There are some tips listed below that will make it easier for you to keep your company safe, raise money, and manage properly. You cannot become a Fortune 500 company overnight, but you can remain financially healthy with this salient advice.

Does Your Startup Have A Financial Advisor?

When you are starting your company, you might be so focused on your ideas that you forget about finances. You may think that it is expensive to hire a financial advisor, but the advisor will adjust their fees to help you fit it into your budget. When the advisor is showing you what to do, they can help you make wise financial decisions. Plus, these advisors can read over your books, tell you where your problems are, help you avoid major losses early on.

Does Your Company Invest?

When you hire a financial advisor, you can start investing money that will be used as a nest egg. You should ask your advisor about the most conservative investments that you can get. Because of this, you will have money that you can fall back on in the future. Plus, you might invest in support companies that work with you. If you are investing in a company that provides you with parts or services, you will make more money as they grow.

Your success will lead to more success for your partners, and they will give you better products and services in the future. If you can take the next step in saving money, you might create a massive trust that will hold and grow your money. You cannot put all your profits into the trust, but you can use the trust to invest without taking on any risk.

Do Not Hire So Many People

About 90% of startups fail, and that happens due to a number of things. However, many companies will hire far too many people early on. You will start paying too much money to a large workforce, and you will begin to lose money because you are not able to make payroll every month.

When you disappoint people, miss vendor payments, or lay off employees you hired a couple of months ago, you are making your company look bad. You might get some bad reviews online, and your credit score could be impacted. Plus, you could earn the reputation that working for you is a bad idea.

Invest in Automation Instead

When you are thinking of hiring more employees, you should weigh our options for investing in automation instead. You could make a one-time purchase that will automate many of the processes you do not have time to complete. You could automate your payroll, automate your accounting, and automate your shipping labels. You can automate the invoices that you send to vendors, or you could automate the payment portal that is used by your clients to make payments online.

You do not need to hire people to answer the phone when your eCommerce website could be used to buy items at any time. You do not need to answer the phone constantly, and the automated program should do things like send alerts to the right people, create shipping labels, and even schedule the pickup time for those packages.

Market Your Company With Social Media

Social media is a broad and sweeping definition for a place where you can interact with the public easily. You can post advertising for your business on social media sites, and you can create an online presence that will bring in more customers.

Social media posts could include videos that you made yourself, or you might hire influencers who will post ads on their social media pages. An influencer could become the face of your brand, and you will not need to overpay for marketing. Plus, some influencers could prefer to get a few free products instead of taking traditional payment.

You can take another step into the social media world by creating videos that you will post to video sharing services. The video-sharing sites you use will help you make commercials that you do not need to pay to put on TV. This makes it easier for people to find your advertising, and you can post as many videos as you want. If you link to your videos on social media, your videos could go viral.

Spend some extra time being creative instead of wasting your money on overpriced advertising.

Protect Your Savings

You could consider crowdfunding, angel investors, and venture capitalists as options to raise money for projects, marketing, and sales. Many start up owners invest their own savings into their business, but it’s important to reserve some personal funds for emergencies. If an unexpected emergency does arise in your personal life and you don’t have enough savings to cover it, you should learn more about your short-term financial options. There are solutions that may be able to help you get you through an unexpected emergency expense until your next payday. Just remember to keep your personal finances separate from your startup so you don’t complicate taxes come time for reporting financials.


When you are starting a new company, you need to know that about 90% of your colleagues will fail. In order to avoid becoming a statistic, you should use the advice listed above. You can save money by hiring fewer people, and you can automate much of the work that you do every day. You can hire a financial advisor who will help you save money, and you can invest your money to build your nest egg. You could build your social media presence, make your own commercials to post on video-sharing sites, and get more work done every day.

Dean Vagnozzi: The 401k Scam and how the Government Tricks U.S. Taxpayers Into Higher Tax Rates

Dean Vagnozzi, the 46-year-old financial entrepreneur and President of A Better Financial Plan, LLC, believes in making your money work hard for you. Today. Waiting is not his style, and Vagnozzi believes if it’s locked up in retirement accounts or paid ahead, into your mortgage, it can’t be accessed until much later in life.

He is not your typical Financial Planner. He suggests you avoid your company’s 401k, not pay off your mortgage, and forego an IRA. With many new ideas, Vagnozzi will make you wealthier than you ever thought possible.

Needless to say, Vagnozzi is not a typical Financial Advisor – to learn more about him, see the article here. With energy and enthusiasm, he hits you with ideas you’ve never heard before—certainly not from a money manager. He suggests avoiding your company’s 401k plan. He advises against paying off your mortgage. He says to forego an IRA. And he will make you wealthier than you ever thought possible.

As a veteran financial planner, I’ve asked thousands of people attending hundreds of financial workshops over the past 10 years about the direction they believe taxes will move in the future. Everyone—and I mean everyone—answers that question the same way. Everyone thinks taxes are going to be higher.

This comes as no surprise, as American taxpayers are constantly reminded of rising national debts taken on the United States government, and the only means of revenue the government has at its disposal are taxes. Americans are typically (and rightfully so) interested in any opportunity to slide past Uncle Sam and keep more of their hard-earned wages in their own pockets, making the 401(k) and IRA popular financial vehicles allowing contributors to defer taxes until a later time.

The only problem with this strategy?

Those same tax-payers had just agreed that tax rates are expected to increase in the future.

In a traditional 401(k) account, a percentage of your (pre-tax) income is moved into an investment account until you are ready to collect your earnings at retirement. This is not a revelation, of course, and we all know this to be fact. But I can tell you from experience that hardly anyone ever mentally factors in what the bite out of his or her retirement income is going to look like when he or she becomes responsible for paying those taxes.

I would encourage all of my financial planning clients to seek out the 70-somethings in your life and ask them how they feel about the income tax that leaves their hands every time they draw on their qualified account. They’re not going to be smiling when they tell you the answer and I promise you, if they are honest, they are going to come clean with you that they hadn’t anticipated how much that tax bill would sting.

There is a cost to deferring your taxes; unfortunately, no one ever examines that cost for us to make a conscious decision over whether that cost is worth accepting.

Now, one of the first arguments people make against this fact goes something like this: “Yeah, but wait a minute—you’ve kept her in the same tax bracket. My accountant told me I will be in a lower tax bracket.” This particular response is why I look at my audience and I say, “If you are in a lower tax bracket when you retire, then it means you have FAILED FINANCIALLY!”

Who in their right minds would want a financial plan designed to be in a lower tax bracket when you retire? If you are in a lower tax bracket, it only means one of two things happened: either you didn’t save enough money, or the money you saved hasn’t performed well—both scenarios are not optimal.

Instead, it would make more financial sense for taxpayers to have a financial plan designed to be successful and lead to them retiring in a higher tax bracket than when they started saving. Putting a financial plan together assuming that you’ll be in a lower tax bracket is another way of you conceding that you are going to be a financial underachiever.

Why would you want to be that person?

How about you put a plan together based on your being successful and, as a result, being in a higher tax bracket?

When considering the perfect retirement scenario, we often think about having a comfortable house that has been paid off, grown children with families of their own, and a large enough sum of money in a retirement account that allows us to spend less time working and more time enjoying the pleasures of life with those we love most.

Unplanned expenses such as a deferred income tax are going to hurt—and, because our house is paid off and our kids are grown, the two biggest tax deductions we enjoyed our entire lives are gone when we need them most.

In the end, what did you get for this “perfect retirement?” Your money completely tied up and illiquid for 20 or 30 years?

This is why it’s so important for taxpayers to understand exactly where and how their hard-earned savings are being held.


How to Find the Best Financial Advisor in San Diego

Hiring a financial advisor San Diego requires a disciplined process. You need to find someone whom you can work with for many years. This may take more time but you’re sure to have a peace of mind, knowing that you made the best choice. How do you find the best financial advisor in San Diego? Below are some helpful tips that will guide you to make the right choice.

Understand The Different Types Of Financial Advisors

There are different types of financial advisors. Before you hire one, make sure you understand what services they offer. Some financial advisors offer financial assistance but don’t offer investment management services. Some of them manage investments but don’t offer financial planning. Some of them have expertise when it comes to retirement income planning while some don’t. Some only focus on wealth accumulation.

To make sure you hire the best financial advisor San Diego area, you need to determine which type of financial advice you’ll need. You also need to know what type of services the advisor provides. What services do financial advisors provide?

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1. Financial planning is focused on all aspects of financial life. That includes how much to save and what insurance is needed. In short, it’s not limited to investments.

2. Investments services are focused on investment management functions. That involves which investments should be owned in which accounts. Good investments are chosen as a part of a financial planning process.

3. Retirement income planning services are focused on coordinating all the key pieces. These pieces include taxes, social security, investments, pensions, and more. These should be in accordance with the goal of delivering a retirement paycheck.

Choose a Financial Advisor With Credibility

Not all financial advisors have the same credentials. Some of the organizations make credentials that are easy to obtain in exchange for a fee. Salespeople can simply pay the fee and acquire the credentials and act like experts. When hiring a financial advisor San Diego, make sure you check for their training for CFP (College for Professional). Also, check for their PFS designation (Personal Financial Specialist). You may also check their investment advisor who has the certificate for their CFA (Chartered Financial Analyst).

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These credentials can be obtained if they pass the examination. Financial advisers should be able to demonstrate proficiency in the subject matter. In order to maintain the designation, an advisor should adhere to a policy with ethics, and to meet the education requirements.

It’s important to take note of these, as these would describe the kind of advisor you’re dealing with. In the absence of training and certificates, it’s best to look for another advisor.

Check the Credentials

For you to be sure that the advisor is legitimate, always verify the credentials. It also helps if you review the service record before you hire one. A financial advisor’s complaint history can say a lot about the service, too. You can check the records with FINRA (Financial Industry Regulatory Authority) and the SEC (Security and Exchange Commission). You can also check the records with the CFP board or with membership organizations the advisor is associated with. Customer complaints will always stay on the financial advisor’s record.

it doesn’t automatically mean that an advisor with complaints isn’t trustworthy. The longer the advisor is in the business, the more likely he or she is to have at least one complaint. But if the advisor has multiple complaints, you might just look for another one.

Understand the Compensation of a Financial Advisor

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To make sure you’re hiring the best financial advisor in San Diego, then you need to know how they are compensated. Financial advisors are compensated through a number of ways. Some of them may charge an hourly fee, an asset-based fee, or through commissions. It’s best if you take this into consideration before you hire a financial advisor.

Look Up Reviews Online

The best way to narrow down your search is to read some reviews online. You can enter your specific criteria and zip code to search for financial advisors near you. This is a good way to find an advisor in your location that meets your requirements. If you couldn’t find one in your area, you can still find excellent advisors elsewhere. A lot of companies are working with their clients remotely. You can work with an advisor without having to meet face-to-face. Just make sure to do some research about the company first and read the reviews. Does the company have more negative reviews than positive reviews? You can eliminate the company with more negative reviews from your options and move on to the next.

Ask Questions Before Hiring

It’s very helpful if you know the right questions to ask. This will eliminate those who don’t communicate well with you. What are examples of questions you can ask?

  • How would you describe your ideal client?
  • How long have you been practicing?
  • How are you compensated?
  • What are your retirement planning options?
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These are just a few of the questions you can ask. These will determine how well the financial advisor communicates. These will also help you get to know more about the advisor. The key here is to understand the responses. If you don’t, then don’t be afraid to ask follow-up questions.

You can also ask for references. Because of privacy regulations, financial advisors aren’t allowed to provide the names of their other clients. If the advisor does, however, then move on to the next.

Know How to Identify Fraud Risks

When somebody has custody of your assets, then fraud is easily perpetrated. A lot of these advisors use a third-party custodian to hold your assets. When this happens, your accounts can be opened at a large firm. This gives the advisor the capability to place offers and trades on the account. The custodian will still report to you and do transactions with you. This is why you should be very careful or advisors who have custody of your assets.