A New Perspective On Risk This Holiday Season
Risk Perspective With Amida Wealth
Risk Perspective relates to the odds of losing money. The more you understand risk perspective, the more you are able to understand your ability to access financial freedom. Your tolerance for risk is something that you should consider when you make decisions alongside your Amida advisor. Financial independence usually means having enough savings, financial investments, and cash on hand to afford the kind of life we desire for ourselves and our families. In other words, Financial freedom means our money is working for us! Living Well during the holidays and into the new year is an essential way to manage risk! Incorporate new ways to structure yourself and your financial impact heading into the New Year with the support of your friend, Amida.
Financial Independence Perspective With Amida Wealth
At Amida Wealth our mission is to transform your vision of wealth. To help you pursue your goals for financial independence while living the life you desire. Ensuring you are building habits that lead to happiness through a successful career, wise investments, good health and loving relationships. Amida Wealth has developed many tools that are placed at our clients disposal to help them reach their goals. We introduce some of these here but no client is the same and there are no cookie-cutter solutions. The first step is easy. Talk to us!
Living Today & Planning For Tomorrow
When all the elements of wealth are in harmony, your health, career, finances, relationships, and personal growth, you can live each day in the moment. Our life takes place in the present but all too often we let the present slip away. At Amida, we help you balance and understand your financial risks so that you are able to take a deep breath, and simply relax and allow your abundance to flow! Financial risks can weigh on us when we are not educated on this topic. We support you with planning and strategy. In that way, your best day will always be this present moment!
A New Way To Look At Risk Perspective
Risk perspective is present in all aspects of our lives. We encourage you to look philanthropically with an eye on the future! Thinking about the future and doing something towards it today, helps our risk perspective. This is the same with our health! Here are a few ways you can manage risk, with a new perspective, this holiday season.
First, Consider Donor Advisor Funds
This holiday season, there is the option to donate directly to the charities. If you are not sure which ones yet or do not want to allocate your entire quota in one year, there are strategies around that. One strategy is through the use of donor advised funds. A donor-advised fund, or DAF, is a giving account established at a public charity. It allows donors to make a charitable contribution, receive an immediate tax deduction and then recommend grants from the fund over time. DAFs can reduce tax burdens after certain circumstances, such as receiving an inheritance, selling a business, or experiencing strong market returns. You can take an immediate tax deduction when you make a charitable contribution to your DAF, reducing your tax liability. At Amida, we would coordinate with your tax advisor to determine the proper level for your tax situation and also allow you the full benefit of doing good now and into the future!
Second, Become Aware of Climate Change
Climate change refers to long-term shifts in temperatures and weather patterns. These shifts may be natural, but since the 1800s, human activities have been the main driver of climate change, primarily due to the burning of fossil fuels. Your future will most likely be impacted by climate change. In other words, what you can do about it, and how can you make a positive impact today? At Amida Wealth we plant trees each year for our clients. We have tree-planting event coming up in April to celebrate Earth Month! Additionally, we have a community beach clean-up in January. We strongly encourage you to philanthropically look at the future, when considering all financial risk!
Third, Incorporate Health & Fitness During The Holidays
At Amida Wealth our fivefold elements of wealth are: health, career, finances, relationships, and personal growth. Perhaps the simplest way to reduce healthcare costs is to promote a healthier lifestyle among the U.S. population! According to the Centers for Disease Control and Prevention, healthcare costs represented just 9 percent of gross domestic product in 1980. Flash forward to 2017, and those costs represent about $2.3 trillion and is expected to rise. In other words, we must take responsibility for our health this holiday season in order to establish more balance in our everyday life. FSA’s and HSAs are pre-tax accounts you can use to pay for healthcare related expenses. To qualify for an HSA you must have a high deductible health plan. With both FSA’s and HSAs you can pay for things like co-pays medical bills and vision expenses. An FSA is like a line of credit. You can even use your HSA to pay for some Medicare expenses including your Medicare Part B, Part D and Medicare Advantage plan premiums, deductibles, copays and coinsurance.
Amida Wealth Family Conversations
At your next family and friends gathering encourage the topic of risk perspective heading into the future. Do your friends and family know about Donor Advisor Funds? How do they feel about climate change, and what actions are they taking today in-order to minimize their financial risks? Additionally, are they taking their health into perspective when it comes to their finances? What changes are they looking to make heading into the New Year? Listen intently… oftentimes, these deep discussions provide value for everyone at the table! a nice way to create a legacy while also doing good for you, the community, and teaching your children about giving back and working together.
Amida Wealth is always here to support you and your loved ones, in our journey to wealth together! We are one phone call or email away.
In conclusion, risk happens, but don’t let it get in the way of your dreams! At Amida Wealth our symbol is a simple blade of grass. Providing life-giving oxygen while acting as a natural filter for contaminants. Amida Wealth provides the same nurturing to our clients. At the many stages in our clients life, we prepare for change and review what action to take. Steering our clients along their journey and changing obstacles into stepping stones. Risk can be seen in may ways – let’s look philanthropically into the future and support our community and future generations. Amida Wealth is here to support your financial independence in this life, we are one phone call or email away!