Goals-Based Planning: When was the last time you saw your wealth for the first time?

When we think about wealth, we often imagine it in different “mental” accounts. We assign certain values to money, based on its origins and what we intend to do with it. Because these values can fluctuate, they may not always match our intentions. That’s why we should evaluate our strategies with a goals-based plan

Your wealth was built with great intention. Its future should be too

Take the time to review the structure of your capital, then identify if your behaviours truly align with what you are aiming to accomplish. With over 200 years of experience, we appreciate that wealth planning is a personal and complex journey. By balancing practical and purposeful concerns, you can actively take steps towards realising your goals.

Viewing your wealth through our four unique lenses — liquidity (cash), lifestyle (spending), legacy, and growth — can help ensure that it’s arranged and utilised in a way that supports your intentions and values.

Liquidity (cash)

 

Many investors will plan for a contingency, to have enough money on hand to feel psychologically safe through the turmoil of markets, business cycles and life events. The goal is to ensure that spending or lifestyles will not be unexpectedly restricted or result in the sale of assets at the wrong time (i.e., sell low). Within the liquidity lens , we reserve cash  for typical lifestyle expenses, big purchases or even for opportunistic purposes.

Lifestyle

 

By allocating  strategically, investors can  better maintain their lifestyle needs and wants. If, for example, they faced a large loss of capital in a business or concentrated investment—or a life event that left principal earners unable to work—this lens would have enough money to mitigate adverse effects and maintain a consistent way of living. Its contents are specifically tailored to an individual or family’s definition of ‘lifestyle.’

Legacy

 

The first two lenses  provide  money  for use within one’s lifetime, while the legacy lens allocates  money during or after your lifespan. There is, however, some flexibility here. If the lifestyle portion is drained too early due to factors such as longevity, the legacy lens can help. It may also be utilized for family gifts(either outright or via more complex wealth planning structures)as well as philanthropic gifts by way of family foundations.

Growth

 

It is important to note that the contents of the aforementioned segments of wealth—liquidity, lifestyle and legacy—are all meant to be consumed. The fourth and final lens, on the other hand, serve a different purpose. It is intended for long-term capital growth. This can act  as the foundation for intergenerational wealth or philanthropic giving in perpetuity.

*Awards or rankings are not indicative of future success or results. For third-party award selection criteria and other important information, visit here.

A few questions to get you started. Speak with your J.P. Morgan team to create your goals-based plan today.

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All case studies are shown for illustrative purposes only and are hypothetical. Any name referenced is fictional, and may not be representative of other individual experiences. Information is not a guarantee of future results.

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