4 Significant Planning Points To Guard Family Assets


Regardless of the current economic conditions or future expectations, abiding by a few simple, but sound and proven strategies will greatly help planning a successful future of your family assets. Although each individual’s situation is unique, the following key points will facilitate the review, and ultimately the formulation of strategy to ensure your family’s future.


  1. Risk Management – This is often the most overlooked point when it should be one of the first considerations prior to making financial decisions. When markets are sky rocketing through all time highs, it is easy to take on too many positions as everything appears to be moving higher. Taking on too much risk at one time can leave one susceptible to a correction, or even worse, an unexpected market collapse. It is critical to have a balance in your portfolio between the risks associated with investment vehicles and other various financial assets that provide a level of guaranteed income at retirement. As with any investment, be sure to do your due diligence as most have no guarantees and are subject to market fluctuations. A great trader colleague of mine, Ross Cameron, talks extensively about risk management on com
  2. Do Not Chase Performance – This is the biggest no-no to investing. However, investors continually exercise this practice which just simply does not return consistent results. Otherwise known as “chasing performance,” this habit is extremely dangerous and can be destructive to an investment account. The undeniable fact is that performance sells. You can take some simple measures to help avoid the chase. The most straightforward of them all, but true, is buy low and sell high. Use benchmarks whether fundamental or technical and finally, practice patience. More on the importance of patience and winning over the long term
  3. Preservation – When possible, it is a great practice to preserve your resources you’ve allocated for the future and even retirement. Withdrawing funds from retirement plans such as IRA’s and other accounts alike can cause an unnecessary assessment of penalties and fees. In the event a withdrawal is taken, you need to be sure you can quickly reload the used funds simply because you cannot recover the time invested.
  4. Maintain a Long Term View – Markets are cyclical. Rather than reacting to each and every market move, focusing on a longer term strategy is generally more effective, especially when it relates to building a portfolio tailored to your future retirement requirements.


The ability to enjoy the benefits of wealth at the present and in the future, as well as managing it properly for your family requires careful consideration. Planning for the future is key and no one really knows what the future holds. However, you can plan for various outcomes, including the worst case.