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 OK, it’s not a news flash. Everyone knows that wealthy people have more money.   What many people don’t know, however, is how wealthy people get that way. An inheritance, you say? Some. Oil wells in the backyard? A lucky few. The lottery? Not many.

 Most of the wealthy people I know got that way by following three basic rules:

 ·         Work hard.

·         Plan for life’s unexpected events.

·         Keep as much money as you can on your balance sheet, rather than transferring it to someone else’s.

 It’s as simple as that. Most wealthy people get more money by working hard at their jobs, planning for events that could derail their goals, and keeping more of their money.

 Now, I can’t promise you’ll become wealthy. Nor can I do much for you in the “working hard” department. That’s up to you. But I can help you 1) develop a financial roadmap that is designed just for you, and 2) show you lots of ways to keep more money on your own balance sheet, rather than give it to someone else (including our favorite uncle, Sam). I’ll show you how to get financially organized, diversify your investments, manage your risk, and maybe even establish a guaranteed stream of income for your retirement.

 One of my clients, let’s call him Bob, started on his retirement adventure last November. I had been working with Bob and his wife for more than three years, planning for the big day. During that time, we did four things to ensure that their retirement would be as worry-free as possible. First, we made sure that their investments were compatible with their risk tolerance and income needs. Second, we established and build up a cash emergency fund. Third, we designed an income plan to cover not only their daily living expenses, but also their dreams and desires, mainly frequent travel in their motor home. Finally, we put a plan in place for long term care so they will not have to rely on family members if the need arises.  It was fun an exciting for all of us to see their plan come together, and I can’t wait to see how their retirement unfolds.

 What about you? Do you have a financial plan like Bob and his wife? If not, it might not be too late to start. By the way, the time we will spend together is complimentary, which is a great way to keep more of your money on your balance sheet – just like those wealthy people!

 Mike Rich, CFP®

Pontchartrain Investment Management

2065 1st Street, Slidell, LA 70458


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 Securities and Advisory Services offered through LPL Financial, a Registered Investment Advisor, Member FINRA/SIPC.

 The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.