Ultra-high-net-worth (UHNW) families typically consider establishing their own Single-Family Office (SFO) when they have total investable assets of $100 million or more. Consideration for an SFO is most often driven by a significant liquidity event such as the sale of a family business.
It may be as simple as having a dedicated wealth professional who acts as the intermediary with all of the family’s other service providers, or as complex as employing a team of dedicated professionals for all of the family’s wealth management needs including accountants, lawyers, investment managers, legacy planners, philanthropic experts, etc..
As you approach retirement, it’s essential to plan for more than just your finances. While money is undoubtedly a crucial part of a comfortable retirement, planning for the emotional, social, and physical aspects of your life can significantly enhance your overall well-being during your retirement.
Ensuring a fulfilling retirement involves mapping out how you will spend your time, maintaining social connections, staying active and healthy, and pursuing hobbies or interests that you enjoy.
Building wealth as a family can be a rewarding and empowering journey that sets the foundation for a secure financial future. By working together to prioritize your goals, having a suitable investment plan, and staying on top of your investments, you can build a strong financial foundation that benefits both current and future generations.
Have you ever wondered how some individuals manage to accumulate wealth without attracting attention? These individuals are often referred to as “the quietly wealthy,” and their secret lies in the concept of quiet wealth.
What is Quiet Wealth?
Quiet wealth, or stealth wealth, is the art of living a financially comfortable life while keeping a low financial profile. It involves adopting a more modest, carefully curated lifestyle and avoiding conspicuous displays of wealth. While flashy cars, extravagant vacations, and designer labels may be tempting for some, those who embrace stealth wealth understand the value of financial security and prioritize long-term financial goals over short-term gratification.
The appeal of stealth wealth lies in its ability to provide freedom and peace of mind. By living below their means, the quietly wealthy can invest their money wisely, build substantial savings, and create passive income streams that will sustain them in the long run.
What’s The Secret to Achieving Quiet Wealth?
The secret behind stealth wealth is not about depriving oneself of enjoyment; rather, it’s about making intentional choices that align with personal values and financial goals. The quietly wealthy find fulfillment in experiences rather than material possessions, focusing on building assets instead of liabilities and making sound financial decisions that will have a lasting impact.
Examples of Quiet Wealth
While some may view stealth wealth as a puzzling phenomenon or even question its existence altogether, there are countless examples of individuals who have successfully achieved financial independence while remaining under the radar. People who exhibit quiet wealth characteristics understand that true wealth is not measured by external symbols but by inner contentment and freedom from financial stress.
If you are looking for assistance in your investment journey, our team at Bloom Investment Counsel, Inc. can help. Since 1985, we have been providing actively managed, customized Canadian and U.S. dividend-paying portfoliosfor wealthy individuals, family offices, foundations, corporations, institutions, and trusts. We specialize in investing in income-generating investments, specifically dividend-paying stocks, which can help you generate income, if needed, and growth from investing in the stock market.
This content is provided for general informational purposes only and does not constitute financial, investment, tax, legal or accounting advice nor does it constitute an offer or solicitation to buy or sell any securities referred to. Individual circumstances and current events are critical to sound investment planning; anyone wishing to act on this content should consult with his or her financial partner or advisor.
