By Joan LaFemina
Matt, I have heard my colleagues discussing Rosemark and I would like to know more about what you do:
RoseMark Advisors is a Securities and Exchange Commission (SEC) registered investment advisor. We are a trusted resource to help identify how to build your wealth and determine how best to diversify your investments. There is no cost for a personal consultation.
No matter your age you can benefit from a trusted advisor review. You are never too young to plan!
What would you say are the top 2 questions you are asked?
Definitely the most common is, “Can I afford to retire?” and the second most common is, “How do I accumulate enough wealth and provide for proper planning to keep my assets safe”.
How does a professional financial adviser at RoseMark Advisors address these two concerns?
We conduct a financial assessment of your assets now and projected future plans using a holistic approach. We conduct a fact finding process, an overall analysis so to speak, to see if your assets will stand the test of time.
We work with your current team of professional advisors: attorney, accountant, etc. to draft a personalized plan for building, protecting, spending and passing your wealth.
This way you can make sure you have enough cash and non-retirement plan assets (such as savings, CDs, and brokerage accounts). Diversification is important to prevent heavy tax implications.
What would you say is the biggest mistake people tend to make with their wealth?
Accumulating too much wealth in only retirement based plans. This limits access to funds when they are most needed or wanted.
For example: Upon first consultation with us, a consumer had 95% of his assets in a retirement plan assets and wanted to take a large lump sum of $50,000 out to pay for his daughter’s wedding. He had not realized by doing so, he was placing himself in the next income tax bracket and therefore pay a hefty sum in income tax. We were able to review his other financials and find an alternative solution to make the wedding possible without the higher impact.
What are some important words of wisdom you would like to share regarding long term planning?
Review your retirement plans after experiencing a major life event, such as: divorce or the death of a spouse, to update the beneficiaries of your plans if needed. Make sure you have a will in place, also amended after these same life events.
Too often, we see situations where this has not been addressed and the recipient is not always the current spouse or intended family member.
Additionally, protect your assets by obtaining products that can cover outstanding debts. Considering the proper amount of life insurance to cover your existing lines of credit, mortgages and other debts.
It sounds like there is great benefit to working with a Rosemark Advisors professional?
Absolutely, Rosemark Advisors can quarterback the planning process and facilitate communications between your team players, your CPA and your attorney.
The RoseMark Advisor benefit is a featured benefit for Association of Mature American Citizens (AMAC) membership, to find out more about joining AMAC click here: www.amac.us
How can I contact RoseMark Advisors to find out more?
You can also call your Hometown Personal Account Representative and we can direct you to Rosemark Advisors for assistance!