Risk Management Strategies
Setting goals and objectives and implementing strategies to invest to achieve these goals are a waste of time without an appropriate Risk management strategy, there are many different components that make up a risk management strategy which includes:
- Estate Planning
- Asset protection
- Insurances for both assets and individuals
Most people are well aware is that it is ill-advised to put all of your eggs into one basket from an investment perspective but what is often overlooked is to protect the income that allows you to invest. There have been many different stories by people being adversely affected by an unexpected event in their life. A prudent risk management strategy will ensure will ensure that your path to creating wealth will not be impacted by an unforeseen event, whilst ensuring it is being implemented in line with your overall wealth and tax minimisation strategy.
Make sure you don’t overlook protecting the income that allows you to invest. Have a chat to one of your financial advisor to find out more.