With an effective investment strategy, this couple\u0027s $20\u002Dmillion estate could grow to $40 or $50 million in 30 to 40 years. Find out more.
because they have so much money. But a financial plan is really a life plan to think through what you want to do with your life and your money,” Ed Rempel, fee-for-service financial planner, tax accountant and blogger, said. “The only difference between a financial plan for the middle class versus wealthy investors is the numbers are bigger.”will be about $300,000 a year. Assuming average returns of about five per cent for the total portfolio in the long term, this will require about $8.
“Warren Buffet said give kids enough so they can do anything, but not enough that they can do nothing,” Rempel said. “Financial independence is about learning money skills. Jack and Ann may want to offer to match contributions rather than contributing the maximum amounts.”Article content Rempel does not see any need to fund a life insurance policy given the current size of the estate and the ability to defer tax in other ways, such as buy-and-hold investments focused on growth, which will likely perform better than the limited investment options within a life insurance policy.
Rempel also recommends Jack and Ann understand their risk tolerance, invest strategically and focus on returns after fees.
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