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How We Might Help

Accumulation Phase

"Our first child just turned one, and we are now expecting one more on the way. We want to help our children, giving them the best possible education, and have enough left to save for retirement and our future as well. What are the steps that we can take to save for our children's education, and what are the different options we have to do this? How can we balance both saving for education, retirement, and be able to handle any unexpected financial emergencies?"

Pre-Retirement Phase

"Our children have just graduated and moved out of the house. The mortgage, cars and other debts are nearly been paid off as well. What should we do with the additional cash flow we now have coming in, and how can we save and preserve our wealth to pursue a financially independent retirement and lifestyle from this point forward? I also am not sure if I were to pass, would my spouse be able to continue to live in the style to which she is accustomed?"

Retirement Phase

"We are getting close to retirement. We are beginning to think about when to file for social security, how to live off the money that we have saved and possible tax implications, both short term and long term, of taking these steps. How can we manage our investments effectively and manage risk to so that our savings last us through our retirement? We want to be able to manage all these things with minimal stress and continue to live the lifestyle to which we have become accustomed."

Legacy Phase

"Now, later into my retirement I have the good problem of thinking about ways in which I can pass the wealth that I have been blessed with on to my children and grandchildren, as well as leave a lasting legacy on my community. What options should I pursue to help ensure that I can transfer my wealth on to the next generation and give back to my loved ones and community in some way?"

Waddell & Reed does not provide tax or legal advice.  05/20