Our goal is to address the full life cycle of an investor/citizen to live a full and complete life.
For much of our lives we are saving and planning for the future. Often the first savings plan, once schooling is done, is planning the purchase of a home. The next plan usually includes a combination of saving for retirement, travel and experiences, as well as planning for college for one’s children. The BUILD period is often a long period, 40 to as much as 55 years. The BUILD time is so long that it is sometimes difficult to assess at any point in time whether you are on track. When you start with $50,000 it’s hard to see your plan becoming $5 or $10 Million dollars! We spend solid amounts of time assisting our clients in the yearly activity portion of our program by evaluating their saving and investing plans as well as measuring whether they are on track. Naturally using compounding of returns, a small amount of savings, combined with yearly deposits to IRA’s, 401K’s and regular investing savings, a person can build a large amount of assets that can then serve them well for the LIVE and SHARE portions of life. FourStar Wealth Advisors are ever vigilant in our tracking of your plan, and providing assistance in helping you stick to your plan. We are also able to alter your plan in midstream if circumstances change. In fact the financial review is a key element in all our review meetings.
When we refer to LIVE, we refer to the period of a person’s life in which folks are not generating substantial new savings and investment, or maybe some but not much. This is the time of life most folks refer to as Retirement. There are many forms of LIVE or retirement, where some choose to keep working but maybe not at the same career that they worked at before. There can be a combination of income drawn from the long term investing program that we have been building during the BUILD phase and income from some other sources. This is what we mean by the LIVE phase.
There are as many ways to LIVE as there are people, but there are some very basic time honored principles by which we assist our clients in the LIVE phase to help them do it a bit smarter or better. Managing resources to LIVE better is a core mission of the Four Star Wealth Advisors!
People are generous. They often share with family and friends and donate to charities. Often times individuals are able to ,and want to ,do some SHARING during the BUILD and LIVE phases. We can assist in advising you in your philanthropic endeavors to charities and non profits, in addition to helping manage your distribution of gift assets to family to facilitate early transfer of family wealth. This activity can often fulfill our lives! But most certainly the SHARE function comes into play as folks near their golden years. The reality of life is that at some point we will SHARE all our resources, money assets and other possessions. They say, you can’t take it with you and that is certainly true!
So we are focused on “how” to SHARE in the right ways, considering tax issues, family issues and charitable intent. We believe there are basically three directions SHARING goes in.
Family – Most folks plan to give a large amount or all to their Family, their heirs. Trusts and wills and other documents are drafted to assure that happens.
The Government – There are costly estate taxes that families can be subject to and of course most folks would like minimize the taxes that go to the government by proper financial planning.
Charities – What kind of world do you want to live in? What things could you accomplish with your philanthropic dollars and donations to effect positive change in the world, for the benefit of people, places, and organizations. This can be one of the most fulfilling use of your assets.
Our task therefore is to assist at all phase of life, to BUILD a strong life by best efforts and practices at managing resources, to LIVE and enjoy those resources and to SHARE those resources as we desire once we are no longer needing them.
There is no exact WAY. Many paths can be taken to accomplish the things we want to accomplish. The specific WAY turns out to be unique to each individual. Our goal is to help folks and families articulate those wants, needs, and desires to live a full and complete life. It is to this end we pledge our sacred honor.
FourStar Wealth Advisors, LLC
Brian L. Kasal
CEO and Founder