Miriam used to run a small nursing business. She loved her job and often told others how it fulfilled and centered her life. She always said she would never retire.
However, when she sat down with her wealth management professional from U.S. Bank and U.S. Bancorp Investments to talk about her goals, it gradually became clear that her job was not actually her highest priority. She really valued spending more time with her children and grandchildren, expanding her garden, and fulfilling her lifelong dream of traveling. Having a focused conversation helped Miriam recognize that these things were more important to her than the satisfaction she got from her work.
Our approach to wealth planning combines the expertise of the wealth management team with new digital tools and a goals-first financial planning focus.
Running through a few scenarios on her portfolio and retirement plan showed she could retire and still stay on track toward her goals. Miriam partially retired soon thereafter. She now works only a few days a week and spends the other days enjoying her passions.
“The last time I saw her, she was beaming,” says Brad Scott, National Practice strategy leader at U.S. Bank Private Wealth Management. “We were able to help her slow down, think and reevaluate how she was living versus how she wanted to live. We gave her the time and space to consider what her goals actually were; then we made a financial life management plan so she could start to work toward them.”
The U.S. Bank and U.S. Bancorp Investments approach to wealth planning combines the expertise of the wealth management team with new digital tools and a goals-first financial planning focus. With it you can build a comprehensive and holistic long-term plan that you can adjust whenever and wherever like Miriam did. Here’s how it works.
Start with your goals
Working with new digital tools and a wealth management professional from U.S. Bank and U.S Bancorp Investments, identify your highest priorities and then outline a framework to achieve each goal, including how and when.
“By understanding what you’re looking to accomplish in your life, we can figure out how your financial resources — including investments, assets, and liabilities — all fit together to help you as you strive toward those goals, dreams and aspirations,” says Jason Stamm, Central Region president, U.S. Bank Private Wealth Management.
The key is to separate your goals into these categories but remain flexible. “We often find that we don’t have to deal in absolutes,” Stamm says. “You don’t need to wait until your wants are fulfilled to work on your wishes. Your wants don’t need to wait for your needs.”
Speak with a wealth management professional from U.S. Bank and U.S. Bancorp Investments about our financial life management planning platforms and strategies.