What’s the best way to protect your hard-earned wealth? That’s the million-dollar question that’s on a lot of people’s minds right now. The fact is that the coronavirus has demonstrated in absolute terms how an unexpected event can quickly take away your earnings ability and deplete your life savings. 

 Events surrounding the coronavirus have also demonstrated how life’s surprises can come at you from all directions. And when they do, your ability to build enduring wealth can evaporate in the blink of an eye. So how can you protect your hard-earned wealth today?

 In today’s podcast, we’ll discuss the steps involved for protecting your wealth, which involves identifying the kinds of threats that may crop up at various life phases and then preparing for those threats as part of a disciplined risk management process. There's no doubt that when it comes to building enduring wealth it’s important to think about the steps you need to take today to create and grow your money over the long term.

 However, another important step is taking the time to protect yourself against the threats that are waiting to separate you from your hard-earned wealth. Some of these steps include utilizing tools like insurance, tax and cost-efficient investing vehicles, and a solid investment, estate, and distribution plan to protect your money.  

 Finally, be sure to manage risks for the long term.  This involves continuously evaluating the current economic and market environment to identify evolving threats to your wealth.  Then use some of the tools that we’ve discussed to help mitigate those risks.  

 We believe that incorporating an active risk management process into your wealth management framework could ensure that your wealth endures for the long-term no matter what surprises life throws your way.

For more information, read our latest report at https://fimastery.com

 Learn more about Franklin Madison Advisors by visiting: https://franklinmadisonadvisors.com/

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