Retirement Planning

Retirement Requires More Than Returns

Retirement savers can often lose sight of what really matters. Many investors spend so much time wrapped up in rates of return, new products, and the daily deluge of financial headlines that the most important piece to a successful retirement gets lost in the shuffle.

“These things are very important but they’re not the most important,” said Christopher Calandra, CFP® founder and principal of Elliott Wealth Management Services, LLC. “The most important thing is accumulating wealth by saving, investing, and doing things to increase your net worth. Sometimes, with so much of the information that’s out in the public domain, people get lost on that point. But it’s something we want to keep our eye on when working with clients throughout the retirement planning process.”

calandra300x400Elliott Wealth Management Services based in Southington, Connecticut with additional branch offices in Connecticut and Florida, provides wealth management services to clients across 28 states. The firm offers its “Gold Medal” framework of services—which include investment oversight, tax reduction planning, retirement income, family wealth planning, and frequent client communication. Elliott Wealth does not have a firm minimum, although clients with greater taxable income and investable assets are a focus of the firm.

Calandra works with clients to move beyond short-term gains and rates of return so that they can begin the difficult work of carefully planning the asset accumulation needed to achieve their financial goals.

“The adage that I had heard early on in my career and it has always stayed with me … is that most people spend more time planning for their vacation than they do for their financial future,” Calandra told Advisors Magazine during a recent interview, adding that, “reaching financial dreams takes more than investments, it requires a firm grasp of how money works generally”.

“It’s true that some people put their heads in the sand and don’t pay attention to their money. And I think the danger is when you do that you’re more prone to making mistakes, missing opportunities, and not having your money work as hard for you as you did to earn it,” he said.

Elliott Wealth Management Services uses their Gold Medal framework to develop tailored strategies for each client rather than cookie-cutter planning services. Client education, especially within the five Gold Medal Service categories, helps clients to make the right decisions and win with their money over time. The personalized approach allows the firm to empower investors more effectively than new, automated investing tools—which the firm uses to aid advisors—or generic advising strategies, Calandra explained.

“I believe there are lots of great new tools, they’re a wonderful addition to the landscape,” Calandra said. “There is a risk though that the help is not comprehensive and personal enough … Every situation is individual in some way, shape, or form.”

Elliott Wealth Management Services is a fiduciary firm so clients’ best interests come before the firm’s bottom line. Calandra said that the fiduciary approach is about more than giving investment advice. Instead, he takes a holistic look at clients’ finances to advise them on tax issues, the impact of unexpected events, retirement concerns, and other contingencies.

The holistic approach also means that clients can take ownership of their financial futures, which matters now more than ever as lifespans stretch into the 90s or triple-digits. Middle aged investors become “sandwiched” by elderly relatives and adult children, and the regulatory environment becomes increasingly complex.

“People need to be purposeful in accumulating wealth,” Calandra said. “You’re going to need that money to work hard for you for, hopefully, a very long time.”



For more information, visit: elliottwealth.com

Christopher Calandra is a registered representative of SagePoint Financial, Inc., member FINRA/SIPC.

 

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