Last episode we gave a background of Bob’s experience working with clients and discovering the stages of an asset early in his financial career. We also covered Contribution, the first stage of an asset. Today’s episode starts off with Accumulation and goes over how different assets grow and are taxed differently. Having a plan is so crucial when it comes to your finances. No one asset is the solution to everyone’s needs. Everyone has different needs and it’s so important to go through it with an advisor and figure out what’s best for you. 

 Next we discuss distribution, the third stage of an asset, and how the different retirement accounts distribute the money after it has accumulated. How are they taxed differently? 

The last stage of an asset is Transfer. Unfortunately, we don’t live forever. So, the transfer of your assets in necessary. You must have a plan in place to keep your assets organized and dictate what we want our assets to do after us. 

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