The term “wealth preservation” was virtually unknown 10 years ago.
I started using the term back in 1999 when I wrote my book The Doctor’s Wealth Preservation Guide.
What is “wealth preservation?”
The term means different things to different people, but the following is my definition:
Wealth preservation is the process of protecting all valuable assets
from anyone one or any thing that can take them
Who can take or go after your money?
-People, banks, credit card companies you owe money to, etc.
-Doctors typically think of patients who come after their money in a medical malpractice suit
-The #1 threat to take your money is the IRS
-The #2 threat to take your money is the stock market
Most of the time when I’m talking about wealth preservation, I’m talking about protecting money invested in the stock market.
I believe everyone should grow their money in the least risky manner to reach their investment goals.
Unfortunately, most people are not doing this. Why? Because they’ve put their faith in advisors who don’t know what they are doing (click here to learn about my book Bad Advisors: How to Identify Them; How to Avoid Them).
How have you done with your investment portfolio over the last 5, 10, 20 years?
Would you have been happy over the last 10-20 years with a 6-7% guaranteed rate of return on an accumulated value that would be used to pay you a guaranteed lifetime income you could never outlive? Most people would say yes. If you are interested in learning how to grow your wealth in this guaranteed manner, please click here.
No downside risk and tax-free growth and withdrawals
If you had money in the stock market over the last 10+ years, the chances it went backward -46% from 2000-2002 and -59% from 2007-March of 2009 is significant.
I discuss in my book Retiring Without Risk wealth-building tools that mitigate or eliminate risk and allow your money to grow tax free and be removed tax free when you are ready for retirement. To learn how you can grow wealth with the least amount of risk and in a tax-free manner, please click here.
I have a passion for educating consumers and advisors (which is why I created The Wealth Preservation Institute and have written six books). When I had the idea for this webcam site, I knew I had to use it as an excuse to make people aware of their options to protect and grow their wealth.
You should have a lot of fun with this site as you watch the webcam and take in the breathtaking views of Lake Michigan. But I hope you will also spend some time reading the educational material. Doing so will arm you with the knowledge you need to make sure you are doing what you can to protect and grow your wealth (so you can retire in peace on the beach of your choice without financial worries).
Roccy DeFrancesco, Jr.