Investment Tactics for Estate Plans: Guide for Affluent Investors

Let’s say you’re planning a lifetime trip to trek through the Himalayas. You wouldn’t go mountain climbing without proper planning and the equipment to scale a mountain top, right? The same can be said about having an investment strategy and estate plan to help you navigate various stages of your life, with the ultimate goal of retirement at some future date. A retirement that may last 30 or more years for both spouses.

When you think about your retirement years, one thing is for sure. You can’t assume that blind faith and no plan will provide a lifetime of financial security. The financial world is too complex and volatile for that to be true.

To realize a long and sustainable retirement, there are many steps you need to take, but two of the most significant components should be the creation of an evidence-driven investment strategy paired with a comprehensive estate plan to guide you through various phases of your financial journey.

The Cogent Strategic Wealth team provides sophisticated wealth solutions to affluent individuals and families looking for strategic partners to help them achieve their most important financial goals. In this blog, we’ll discuss the importance of having an updated investment strategy that is part of a complex estate plan.

Goal-Based Financial Planning: The Foundation of Your Wealth Management Strategy

Using our storyline of mountain climbing, you more than likely wouldn’t start the adventure without goals. You may not be ready to scale Everest, but your goal could be to stay at Basecamp and trek smaller peaks for the experience. 

The same goes for financial planning. At the core of every successful financial endeavor is goal-based financial planning. This approach aligns your investment decisions with your most significant life goals. Whether you’re planning for an early retirement, funding a family member’s education, or ensuring the legacy of your philanthropic efforts, establishing clear objectives is the all-important first step.

Cogent’s Approach: At the heart of what we do is Cogent Conversations. It’s a unique way we connect with you, getting to know the real you – your concerns, dreams, goals, obstacles, and what you would like to see happen for the rest of your life. It’s how we start crafting a personalized wealth-building plan that is as unique as you are, setting you up to live life exactly how you’ve imagined for the rest of your life.

True wealth is about more than just the dollar amounts in your savings accounts. It’s about ensuring your financial decisions reflect what’s truly important to you, your hopes, and your vision for your future. Through our open and honest Cogent Conversations, we lay the foundation for a trusting and transparent partnership geared toward your financial well-being. 

Learn three ways to make paying taxes less taxing in our short video.

Understanding Evidenced-Driven  Investing Strategies

Evidence-based investing is an approach that relies on historical data, scientific research, and statistical analysis to make investment decisions. Think of it as a map from other mountain climbers who have already made a similar journey to your planned destination.

Evidenced-driven investing helps you make informed decisions grounded in reality rather than speculation, emotion, or market sentiment. Just as a well-charted course is critical to your mountain trekking to avoid unnecessary risks like treacherous paths or sudden weather changes, evidence-based investing provides a disciplined framework for making investment decisions, reducing the influence of emotional reactions and market noise. 

Cogent’s Approach: At Cogent Strategic Wealth, we believe you deserve investment strategies based on real, meaningful data. Our approach uses complex data sets and research to guide us in making decisions about where to invest your money based on your personal circumstances and needs.

Our strategy is straightforward: we allocate your investments across a wide range of asset classes while focusing on tax-efficient results for reasonable amounts of risk. Our disciplined process is focused on the achievement of your goals.

Watch our founder, Michael Evans, discuss Cogent Strategic Wealth’s Design | Build | Protect wealth management process. 

The Role of Estate Planning

Estate planning is much more than just the drafting of your will. When done correctly, it should serve as a roadmap that addresses things such as the preservation of your wealth, tax optimization, and the seamless transfer of your wealth to heirs and charities. Your estate plan should ensure that your loved ones and the causes you care about are taken care of in a manner that aligns with your values, beliefs, and wishes. 

As an affluent individual, estate planning is particularly important because it enables you to minimize estate taxes to preserve more of your wealth for your heirs and charities. 

By choosing a strategy that utilizes trusts, you can control how and when your assets are distributed, offering protection to younger or more financially inexperienced beneficiaries. Additionally, estate planning should include directives for philanthropic giving, allowing you to leave a lasting legacy beyond your immediate family.

Cogent’s Approach: Based on your successes, we understand how important it is for you to keep your wealth safe and make sure it’s there for you and future generations of your family. 

Thinking about your estate is more than just about who gets what when you’re not here anymore. Preparing your future estate means much more than specifying how you want your assets distributed after you pass away. Keep in mind your financial strategy should accommodate the needs of both spouses. Comprehensive estate planning helps streamline the control of your financial affairs while you are here and after you are gone. It can also prepare your heirs for their role as future financial stewards as well.

We integrate cutting-edge tax optimization, asset protection, and philanthropic planning solutions, helping ensure that your legacy benefits you, your loved ones, and the causes you believe in. Meanwhile, we can also help you navigate the complexities of wealth management, providing financial peace of mind and a secure lifestyle for you and your family.

Your Financial Serpa

At the heart of the Cogent team culture lives entrepreneurship. We share the same zest and determination that fuels your dreams. We know success isn’t one-size-fits-all. That’s why we tailor our financial plans and investment advice based on the best interests of our clients.

Think of us as your financial Serpa, guiding you through various stages of your financial journey. 

As financial advisors in Chicago and St. George, Utah, serving clients throughout the country, we’re on a mission to simplify your investing and financial planning requirements. With years of experience, we excel at creating personalized plans that set our clients on a path Of lasting success. We’re not just advisors; we’re clients of our firm as well, treating your financial well-being with the same devotion and care as we do for our own families.
Ready to learn more about our evidenced-based investing and sophisticated estate planning services? Let’s connect for an introductory call.

For informational and educational purposes only and should not be construed as specific investment, accounting, legal or tax advice. Cogent Strategic Wealth provides investment advice only through individualized interactions. Certain information is based upon third-party data, which may become outdated or otherwise superseded without notice. Third-party information is deemed to be reliable, but its accuracy and completeness cannot be guaranteed. Indices are not available for direct investment. Their performance does not reflect the expenses associated with the management of an actual portfolio nor do indices represent results of actual trading. Information from sources deemed reliable, but its accuracy cannot be guaranteed. Performance is historical and does not guarantee future results. Neither the Securities and Exchange Commission (SEC) nor any other federal or state agency have approved, determined the accuracy, or confirmed the adequacy of this article. © 2024, Cogent Strategic Wealth®