In this episode of The Plum Pointe Wealth Management Podcast Series, we delve into the fascinating world of longevity planning. With advancements in healthcare and technology, people are living longer lives than ever before. But what does this mean for your wealth plan? Can it support you as you age well into your 90s or even 100s?

From managing healthcare costs to ensuring your assets last throughout your extended retirement years, we uncover strategies to help you prepare for a longer lifespan.

Discover how incorporating longevity risk into your financial plan can provide you with peace of mind and confidence in your financial future. Whether you're nearing retirement or already enjoying your golden years, this episode offers valuable insights to help you navigate the complexities of planning for a longer, healthier, and more fulfilling life.

Chapters:

0:00 - Introduction and overview on the topic of the show

1:09 - A big challenge many older adults are facing

2:53 - Why you should be thinking more about your longevity plan

4:30 - The ripple effect of neglecting to plan for a longer life

7:53 - How Brian helps address these conversations at Plum Pointe Wealth Management

10:20 - Five steps to consider for a lengthy retirement

13:12 - Revisiting your financial plan over time

16:08 - Repositioning your portfolio later in life

17:50 - Completing a risk audit

19:33 - How you can begin your longevity planning efforts

20:44 - A client story successfully planning for a lengthy retirement

23:20 - How to get in touch with Brian and his team

24:01 - Closing remarks

Connect with Brian Dunckley:

Website

LinkedIn

YouTube

You’ve sold your business and there are countless questions and logistics that need to be addressed. How do you manage the emotion and the loss of that business owner identity? How do you manage what is now a liquid asset in your life?

On the latest episode of the Plum Pointe Wealth Management Podcast Series, Brian breaks down these critical questions facing business owners as they transition into the next phase of life.

Listen, as Brian shares client stories, as well as best practices, for navigating this challenging time.

Chapters:

0:00 - Introduction and overview on the topic of the day

1:09 - The challenging questions business owners are asking themselves once they sell

2:48 - Dealing with the emotional loss of a business owner's identity

5:02 - The ripple effect of this challenge

7:01 - What life can look like when you have a clear plan for your future

8:50 - Brian's background as a scientist and working with business owners

10:52 - Five steps to consider after selling your business

13:29 - Understanding your tax liability

15:09 - Developing a cash plan

17:24 - Examining your additional items (healthcare, insurance, etc.)

19:03 - Reviewing and updating your legacy plan

20:33 - How to get in touch with Brian and his team to start a conversation

21:09 - Digging into a client story and their plan post selling a business

24:26 - Closing remarks

Connect with Brian Dunckley:

Website

LinkedIn

YouTube

In this thought-provoking episode, we delve into a crucial question that many affluent families grapple with: "Are My Heirs Prepared to Handle Our Family Wealth One Day?" Managing family wealth isn't just about growing assets; it's also about ensuring its sustainability and responsible stewardship across generations.

Join us as Brian explores the multifaceted aspects of preparing heirs for the responsibilities that come with inherited wealth. We'll discuss the importance of instilling financial literacy, values, and a strong work ethic in the younger generation.

This episode is packed with helpful takeaways for your family and its estate planning efforts overall.

Chapters:

0:00 - Introduction and overview on the topic of the day

1:24 - Trillions of dollars are going to be passed down to heirs over the next two decades

2:30 - "Shirtsleeves to shirtsleeves"

4:05 - The interpersonal issues that can arise when wealth is transferred

5:33 - The ripple effect of your heirs not being ready to inherit family wealth

7:54 - What life looks like when your heirs are truly ready to inherit the family wealth

10:07 - How Plum Pointe navigates these conversation with clients and affluent families

13:25 - Engage, Educate, and Empower

16:15 - Identify your family values

17:46 - Instilling financial literacy in 10-19 year-olds

20:00 - Conducting formal family meetings to discuss the family goals and wealth

22:26 - Introducing your children to your wealth manager and advisors

24:21 - Advice for someone who needs to get started on this process

26:20 - Two stories about clients doing different levels of planning

30:11 - How to get in touch with Brian and his team

31:21 - Closing remarks

Connect with Brian Dunckley:

Website

LinkedIn

YouTube