One Simple Way to Protect your Wealth?

Simple Strategy to Protect your wealth

How will you Protect your Wealth?

Here are some questions that you also need to think of in order to protect your wealth:

-What if things go wrong?

-What if things didn’t go according to plan?

-What if you or your child cause an accident?

-What if you are sued?

Start thinking about your wealth as your own castle and every Castle has a MOAT to protect it. You need to build a moat around yours to protect your wealth.

Here is one strategy for you to protect your wealth:

  • Having an Umbrella Policy/ Excess Liability

-An umbrella policy allows you to protect more of your wealth as there are these policies go above the basic underlying liability coverage of your home and auto.

This is a powerful and often overlooked solution to protect your wealth from an unforeseen event.

Importance of Umbrella Policy:

You have worked hard, saved and invested diligently BUT your assets can potentially be at risks and unjustly taken from you if things don’t go according to plan and you don’t have a strategy to safeguard your wealth.

Having an umbrella policy gives you a layer of protection (your own MOAT) for your assets helping you protect your wealth from unforeseen events.

If you don’t have an Umbrella Policy:

Key Takeaways

1. Run, don’t walk and Get one

2. How much do you need? Coverage should equal your net worth.

3. Watch the Gaps: Umbrella kicks in after underlying home and auto are used up. Make sure there are no gaps between the two.

If you want to go deeper on this topic Check out the video to watch what happens.

Want to ensure you don’t have any gaps or missed opportunities in your wealth planning? Click here to “Stress-Test” your current plan FREE.

Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by Gold Family Wealth, LLC), or any non-investment related content, made reference to directly or indirectly in this newsletter will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation or prove successful. Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this newsletter serves as the receipt of, or as a substitute for, personalized investment advice from Gold Family Wealth, LLC. To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing. Gold Family Wealth, LLC is neither a law firm nor a certified public accounting firm and no portion of the newsletter content should be construed as legal or accounting advice. A copy of the Gold Family Wealth, LLC’s current written disclosure statement discussing our advisory services and fees is available upon request. If you are a Gold Family Wealth, LLC client, please remember to contact Gold Family Wealth, LLC, in writing, if there are any changes in your personal/financial situation or investment objectives for the purpose of reviewing/evaluating/revising our previous recommendations and/or services.

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