Portfolio Allocations and Investments
After creating the IPS wealth managers need to decide on an asset allocation... Read More
The peak accumulation years represent a phase when individuals enjoy the culmination of their professional expertise, ideally resulting in the highest lifetime earnings. This stage follows the career development phase and precedes retirement.
As in previous life stages, advisors must update their clients' data when transitioning from career development to peak accumulation. This entails revising annual budgets, reassessing human capital, evaluating life and disability insurance needs, and updating the economic net worth statement before any meetings.
Key characteristics of clients in the peak accumulation stage may include:
- Funding higher education expenses for children as they progress to university/college.
- Benefiting from increased tax incentives for older investors to save in tax-advantaged accounts.
- Witnessing a potential decrease in human capital, either in absolute terms as retirement nears or relative to their growing financial capital.
- Recognizing the growing significance of estate planning as investors contemplate leaving inheritances for their children or dependents.
Reading 15: Case Study in Risk Management – Private Wealth
Los 15 (e) Identify and analyze a family's risk exposures during the peak accumulation stage
Los 15 (f) Recommend and justify methods to manage a family’s risk exposures during the peak accumulation stage
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