oaktree & associates
affluent families
You have enough money to support an affluent lifestyle — with more than adequate savings to spare. You’re not concerned about your ability to pay for your children’s college or fund your retirement. But significant wealth comes with its own set of challenges and complexities.
Here are some of the unique wealth planning needs that families of significant means might need to address with a team of professionals.
At Oaktree & Associates, we have identified 7 areas that are fully addressed throughout our planning.
Planning For Your Goals
Wealthy families have financial goals, but they are less likely to be about paying for their children’s college and funding retirement, and more likely to be focused on transferring wealth across multiple generations, philanthropic gifting, or succession planning for a business.
Establishing goals when your primary needs are “covered” requires a different perspective. You must conceptualize what you ultimately want, and what the next phase of life will look like. You may have broad, general goals that haven’t come clearly into focus, or more specific goals but are not sure if they’re achievable. Our team can help you make the goals “S.M.A.R.T” (Specific, Measurable, Actionable, Relevant, and Time-Bound), and map out the strategies for achieving them. A plan illustrates how to use the assets on your balance sheet to achieve your goals.