FAQ

Q: Who is a typical New Generation Wealth Management client?

A: Our typical client is nearing or in retirement with $500,000 or more of investable assets and is looking to maximize retirement income and minimize taxes

Q: Why hire a financial advisor?

A: A financial advisor may be right for you if you:

  • Prefer to delegate to an expert so you can go out and enjoy your retirement
  • Want to know that your spouse will be taken care of 
  • Value having a “certainty of outcome” over “beating the market”
  • Worry that future higher taxes could impact your retirement

Q: Can you work with people in any state?

A: Yes. We work with clients in several states. While our main office is located in Minnesota, with web meeting technology we work with families across the country. We also travel throughout the country and may visit out-of-state clients from time to time.

Q: What type of things do you give advice on?

A:

  • Deciding when and how to claim Social Security benefits
  • Deciding when and how to take pension benefits
  • Determining if a Roth IRA conversion make sense
  • Evaluating the value of an NUA distribution strategy for company stock in a retirement plan
  • Allocating 401(k) investments
  • Refinancing, using home equity lines of credit, and reverse mortgages
  • Using existing annuities and evaluating annuity solutions in a retirement plan
  • Purchasing or canceling life insurance policies
  • Using inheritance or other windfall to achieve your goals

Q: Can you tell me what I should be investing in right now?

A: We believe the best investment you’ll ever make is hiring a good financial advisor. By helping you consistently make smart financial decisions across all aspects of your life, we can add far more to your wealth than we ever could by trying to guess which stock is going to beat the market next year. To determine what you should be investing in, first we must know what you need your money to do for you, and when you need it to do this task. Then we can begin to match investments to your needs.

Q: If I hire you, what should I expect?

A: After your customized IRIS Plan is complete, we will consult with you on a regular basis to ensure that you’re still on track to reach your goals. We will also advise each year on how to minimize your tax liability.