Prosperity Risk Management

October 17, 2022 | TS Prosperity Group

Risk: in the simplest of terms, it’s defined as the possibility of something bad happening. Take a look at the illustration below and if your thought process is like this guy, please keep reading!

Of course, it’s not wrong that investing, especially in the market, means financial risk; however, at TS Prosperity Group, we define financial risk a little bit differently. 

TS Prosperity Group was created to meet the needs of our clients who wanted to preserve their financial wealth for future generations. We saw that investing was only one way for clients to sustain financial risk—there are many other ways that financial risk is present. For example:

• Do you know what your Income tax liability will be when you retire and start taking a distribution from your 401(k) or IRA? You might be surprised to learn that your taxable income could actually increase, therefore causing you to pay more in taxes than you might be planning for. This is a financial risk that TS Prosperity Group is prepared to help you mitigate!
• Or, who is going to manage your estate when you pass? Depending upon who you’ve appointed, there may be a financial risk associated, even with the best of intentions. A lot of time is wrapped up in distributing assets after death and an individual personal representative may need to take time off work, using their PTO or possibly even unpaid time with a loss of wages. Another unintentional risk can be money left on the table due to inexperience with the liquidation of property—what really is the difference between Fair Market Value and Actual Cash Value or Market Value and Book Value and when are those terms applicable? The team at TS Prosperity Group has the experience and knowledge to know how to manage these risks and eliminate some of those intangible costs that aren’t always obvious.

Additional financial risks that we are prepared to help manage could include: Estate or Gift Tax Risk, Liability or Catastrophe Risk, Family Dysfunction Risk, Probate Risk, Charitable Donation Risk, Lack of Planning Risk, and Succession Risk. Of course, Investment Risk is also top of mind for us to manage, but factoring in these additional financial risks that are involved in one’s prosperity, we define financial risk as Prosperity Risk and we are prepared to help manage risk for your greater reward.

At TS Prosperity Group, we IGNITE PROSPERITY® by helping our clients do more with their money. Whether it’s saving a little extra cash each month or accomplishing a long-term strategy, our goal is to help you transform your financial life. Call and schedule an appointment today, one of our team members would love to help you do more with your money at TS Prosperity Group. TS Prosperity Group is based in Council Bluffs, Iowa, with clients across the Midwest. For more information visit tsprosperitygroup.com or call 844-487-3115. #igniteprosperity