If you are young, you are in an excellent position to seek a higher return and take on a higher risk. Chances are, you’re also inexperienced with money. This makes it easier to focus on the present moment, rather than put your money toward any long-term goals, like retirement. Developing good investment and saving habits now is one way to ensure you’ll have something to show for all of your hard work in retirement. Don’t know where to start? Our YP Access Program is designed to bridge the gap between the beginning of high-trajectory professionals work life and the time investors have conventionally been aligned with a financial professional. It gives younger investors the opportunity to get personalized planning advice, insights into asset allocation and risk assessment comprehensive and industry insight that many high-end professionals and corporate entities have leveraged for years. For more information, email Midwest Wealth Management at: support@midwest-wealth.com. As a private investment group specializing in wealth management, Midwest Wealth Management, Inc. offers a proprietary trading platform, alternative investment offerings and dedicated advisory support for a select audience. For more information, please visit www.midwest-wealth.com.
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Americans are living longer than ever before. Not just those who are born today, but for those who are able to make it to benchmark ages like 50, 65 and 70. Much of this is attributed to the medical advancements in cardiovascular disease and cancer treatments, but also to our ability as a society to stay active and healthy later into life. Just since the year 2000, life expectancy has increased 2 years.1   We illustrated a scenario to help see what effect living even 3 or 5 years longer than expectancy would have on a retirement plan. For simplicity’s sake, this couple is starting with $2 million in investable assets, with plans for moderate investment objects and Social Security income. We assumed annual spending, after tax, of $120,000 for all expenses.   What does an extra 3 or 5 years mean to you? Age: 65   Screen Shot 2015-06-05 at 11.48.59 AM   There are numerous studies that detail how unprepared most Americans are for retirement. The studies site the lack of savings or having a financial plan in place. Our client base has not typically exhibited these same symptoms, as their career successes has led them to worry about issues such as succession and estate planning. Regardless of their intuition about their ability to comfortably retire, we always maintained the stance that as wealth managers it was important to quantify their intuition- often times the client was right.   Within the last 5 years we started to see a swing in that mindset, as more clients realized they were coming across unanticipated expenses:   • Educational costs for their children and grandchildren inflated at historic rates • Care for adult parents started to eat away at savings • Children temporarily returned to live at home after college because of a soft job market • Personal medical expenses have become very steep with insurance reform   Our firm prides itself on the importance of knowing where you stand at all times, regardless of your intuitive confidence level. At Midwest Wealth Management, Inc., we developed a unique program to provide an alternative route to wealth creation and protection. The Investors Access Program™ begins with the Interview step to lay the foundation for a successful collaboration. After client objectives are identified and assessed, a focused strategy is engineered and launched to address their unique opportunities and challenges. Advanced training and industry knowledge —coupled with a superior service model for optimal performance—enhance the process and provide unparalleled support to each client throughout the 5-stage program.   Periodic updates with your financial professional should be mandated in your relationship to help ensure all updates and changes are properly represented. Your life is a non-static and ever-changing story, so you should have a plan that reflects that. Do not be afraid to ask your advisors the tough questions, especially when it comes to the life expectancy of you or your spouse and how longevity impacts your plan.   1 Health Statistics 2014
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Don’t expect a Robo-advisor to solve problems like a real Indianapolis Wealth advisor.

What many of the big players in the expanding Robo-advisor industry have been highlighting their ability to allocate assets properly at a low cost; Indianapolis wealth advisors and others take exception. While it’s true that asset allocation is an important part of the wealth management process and one that should never be taken lightly, the art of wealth management is the ability to explain the often complex strategies that are being implemented in terms that clients can fully understand. Investors want to know how their money is working for them in the different market cycles. They don't want to only be told their allocation percentages in each different sector and country.   The Investment Management Consultants Association ran a survey to find what investors want from their advisors. In the group's Investor Sentiment Survey of 1,000 investors, 93% said it was "important" or "critical" that their advisor “helps them maintain a long-term investing approach,” and 83% wanted their advisor to help them “stay calm when the market drops.1"   The growth of automated investment advice platforms called Robo-advisors is a top theme of just about every conference in the advisory industry these days. What's more, pundits are debating whether it's the next big thing in investing.   And why not? The Robo-advisor websites offer increasingly sophisticated tools to build and manage a diversified investment portfolio. They're easy to use, and they cost about a third, or even a quarter, of what a typical human advisor charges. On paper, they look like the kind of disruptive technology that could undermine the traditional relationship between investors and financial advisors.   By the sheer numbers, however, the dozens of venture capital-backed firms now offering software-driven advice are a non-event, according to advisory industry observers. That's because just focusing on low-cost asset allocation diminishes the importance of the bigger picture. Proof of this lies in the fact that the Robo-advisors managed less than $20 billion in assets at the end of last year, according to consulting firm Corporate Insight — as a point of reference, total U.S. retirement assets reached $24 trillion as of June 30.2   The reality is that even with the popularity of Robo-advisors, the majority of investors still see the ultimate value in a relationship with a live advisor. In times of intense volatility, having machine automated practices that remove the human element negatively affect how investors feel about making financial decisions.  Smart investors are leveraging their wealth management firm, using their advisors experience with wealth accumulation and risk management to provide a comprehensive financial plan that gives them confidence.   1. Green, James J. 4 Things Clients Want From Advisors That Robos Can’t Do: IMCA. 25, Aug. 2015 http://www.thinkadvisor.com/2015/08/25/4-things-clients-want-from-advisors-that-robos-can 2. Osterland, Andrew. Is the future for robo-advisors bright…or a bust? http://www.cnbc.com/2015/10/19/is-the-future-for-robo-advisors-bright-or-a-bust.html photo credit: James Vaughan 
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It’s always a good idea to check exactly how and how much you are getting charged in fees from your investment advisor in relation to your wealth management strategies. If your planner is on a Fee-Only basis, then they are getting paid only for the advice they give. They do not earn commissions by selling financial products such as life insurance or mutual funds. However, they tend to focus on only the assets under their control, which usually means ignoring your big financial picture.   Dual-registered advisors earn fees from advice and they may make commissions on some of the products they sell, while Commission-Based advisors make money only from the products sold. In these two areas, be aware of what the standard fee is when your advisor wants to make a purchase.   Many advisors hire other advisors to choose assets like mutual funds for them, which they then turn around and sell you. These means you are paying for your advisor, at least one more advisor you know nothing about, and the standard fees associated with the product you are buying.   In the long run, these stacked costs can have the negative effect of chipping away at your wealth accumulation. Talk to your advisor to see what fee-plan they utilize so you can get an idea of what to expect on your next statement, and possibly, what change in the investment plan you need to apply.   As a private investment group specializing in wealth management, Midwest Wealth Management, Inc. offers a proprietary trading platform, alternative investment offerings and dedicated advisory support for a select audience. For more information, please visit www.midwest-wealth.com.
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