Healthcare costs have been going up for a long time. The Centers for Medicare & Medicaid Services reported annual health spending – healthcare paid for through private health insurance, Medicare, Medicaid, or out-of-pocket spending by businesses, households and governments – in the United States averaged $3.3 trillion in 2016.
While serious accidents are rare, they do happen. If they happen to you, and you're found responsible, the consequences can be catastrophic to your wealth and lifestyle if you don't have sufficient insurance coverage.
As your net worth increases, the level of complexity and the number of challenges you face in maintaining and building your wealth increase too. The following six questions—and their answers—highlight solutions for managing your wealth management plan.
Achieving a high net worth is a great accomplishment. However, the skills required to produce wealth are very different from the skills required to keep and grow wealth. The world of the affluent is cluttered with business owners and celebrities who earned high incomes only to lose it all at some point. At Chessman Wealth Strategies, we believe that everyone can learn from the mistakes made by the “once wealthy.”
Financial Advisors are licensed professionals with a broad background in finance. They can guide you through some important life decisions. They can help you manage the risk involved in making decisions that can paralyze some of us, such as: