Building a career, raising a family, and trying to compound wealth for the future are achievable goals and an activity that requires sound planning and decision-making. Success is measured in decades and lifetimes and unfortunately you only get to try once.
Most people know what to do to achieve a certain goal but the difficulty lies in managing ones own behavior and in consistently implementing difficult actions over time.
An emerging high net worth Individual is someone who has gotten off to a good start in life. Their parents are thrilled. They’ve finished college, they have jobs inside the industry that they’ve chosen or received their formal education, they like their jobs, and they are positioned to advance or be promoted. They see a bright future and plenty of opportunity in front of them. The idea doubles in strength when they have a spouse or significant other working beside them.
Emerging High Net Worth is a concept that builds off of that individual and the potential tools and strategies that they have to compound and build wealth into the future. Generally speaking those tools can come from the following areas:
- Owning and building equity through home-ownership
- Income from work
- Effective retirement planning with tax deferred and tax free accounts (401K’s, Roth IRA’s, SEP accounts, etc.)
- Potential inheritances
- Their ability to defer consumption today for consumption tomorrow
- Ones own specific risk tolerances and their various strategies for accessing the capital markets
Salmon Bay Wealth Management is excited to work with these up and coming emerging high net worth individuals. Seattle is in the midst of an exciting boom and is attracting and producing an extraordinary amount of talented individuals. Salmon Bay Wealth Management shares this excitement and wants to help you maximize the opportunity you’ve created.
You’ve worked hard to achieve your goals; you need to-do everything that you can to maximize the opportunity that you have in front of you. Building and compounding capital will be one of the tools that you have at your disposal to achieve a fantastic retirement and have the resources to pass on to the next generation of emerging high net worth individuals.