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Private Wealth Frequently Asked Questions (FAQ)
Private Wealth FAQs

Investment Management


In order to create a successful financial plan, you need to identify specific goals. These goals should include detail and strategy for reaching them. Use the following process to build your financial plan:
 
  1. Pay off debt. Completely pay off all credit card or hospital debt. This will free up money to place in your emergency fund. 
  2. Create a plan for investment. It should include planning for your 401(k), IRA and any separate accounts that can help build savings.  
  3. Create a retirement plan. Identify how you want to live in retirement. Include budgeting for travel and other bucket-list goals, along with other expenses like health care and emergency costs. 
  4. Develop your tax plan. Figure out how you plan to pay for taxes on the money accrued in your 401(k) and IRA. Planning ahead on this can ensure you don’t have any large lump sum bills due as you enter retirement. 
  5. Create a plan for your home. Allocate money so that your home mortgage is completely paid off by the time you retire. Ensure you have money set aside for any home repairs, property taxes and other maintenance and ownership costs.
 

Financial Planning


In order to create a successful financial plan, you need to identify specific goals. These goals should include detail and strategy for reaching them. Use the following process to build your financial plan:
 
  1. Pay off debt. Completely pay off all credit card or hospital debt. This will free up money to place in your emergency fund. 
  2. Create a plan for investment. It should include planning for your 401(k), IRA and any separate accounts that can help build savings.  
  3. Create a retirement plan. Identify how you want to live in retirement. Include budgeting for travel and other bucket-list goals, along with other expenses like health care and emergency costs. 
  4. Develop your tax plan. Figure out how you plan to pay for taxes on the money accrued in your 401(k) and IRA. Planning ahead on this can ensure you don’t have any large lump sum bills due as you enter retirement. 
  5. Create a plan for your home. Allocate money so that your home mortgage is completely paid off by the time you retire. Ensure you have money set aside for any home repairs, property taxes and other maintenance and ownership costs.
 

Private Banking


In order to create a successful financial plan, you need to identify specific goals. These goals should include detail and strategy for reaching them. Use the following process to build your financial plan:
 
  1. Pay off debt. Completely pay off all credit card or hospital debt. This will free up money to place in your emergency fund. 
  2. Create a plan for investment. It should include planning for your 401(k), IRA and any separate accounts that can help build savings.  
  3. Create a retirement plan. Identify how you want to live in retirement. Include budgeting for travel and other bucket-list goals, along with other expenses like health care and emergency costs. 
  4. Develop your tax plan. Figure out how you plan to pay for taxes on the money accrued in your 401(k) and IRA. Planning ahead on this can ensure you don’t have any large lump sum bills due as you enter retirement. 
  5. Create a plan for your home. Allocate money so that your home mortgage is completely paid off by the time you retire. Ensure you have money set aside for any home repairs, property taxes and other maintenance and ownership costs.
 
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