Core Concepts

“Sleeping Money”

Wealth Coach has coined the phrase “Sleeping Money,” which means we help a client’s money work efficiently 24 hours per day, 7 days per week and 365 days a year. Once a planning system is in place and working, the client can pursue intellectual, spiritual, physical, and social capital goals while his or her financial goals are at work behind the scenes.

Tactical and Comprehensive Planning

Not everything we do at Wealth Coach of Kentucky, Inc. involves a product. We do both Tactical and Comprehensive Planning. Tactical planning involves one or more specific products while Comprehensive planning is fee based and most often used for clients who have achieved financial independence, but need professional assistance in planning. One area in which we do fee based planning is Exit Planning where we help our clients get their businesses ready to transfer to either their families or employees, or sell to a third party. We can put them in contact with private equity groups or venture capital firms to enable them to get “Maximum Value” for their businesses in the most tax efficient manner. We also charge planning fees for Comprehensive Financial Planning, Investment Planning, Estate and Charitable Planning.

Once our clients become financially independent, we can help guide them while they are living and after their demise. With current giving, they can have the pleasure of seeing their children, grandchildren, relatives, and friends get a head start in life as a result of their labor and investments. We also encourage our clients to seek guidance from their legal advisors for testamentary giving- what they leave after their demise. They cannot take anything with them when they leave this world, but they can leave their values and possessions for those who follow them.

Social Capital

When our clients are fortunate enough to achieve financial independence and have created a legacy for their families, Wealth Coach can help them with their Social Capital goals. This involves what they want to do financially for their church, college, communities, and any other charitable institutions that have the same mission, vision, values, and goals that they have. At Wealth Coach, we will not discuss Social Capital until we prove to our clients mathematically that they have more than enough money for themselves and their families to continue their current lifestyle according to the standards that they personally set for themselves. Wealth Coach, for a fee, will help them create a written “Personal Financial Planning Philosophy” that they can use as a guide to direct all their future financial decisions.

There are two types of Social Capital: Private Social Capital where people can self-direct their Social Capital to institutions who share the same values as they do and Government Directed Social Capital (taxes) where their hard earned money is spent by government bureaucrats who may spend their hard earned money on projects that are not consistent with their values. If they are fortunate enough to be able to self direct their social capital dollars, they can take advantage of our “Wealth Optimization Model” which allows them to use their excess money for multiple purposes while reducing their income and estate tax liabilities. With proper planning, they can spend money that normally would go to taxes to benefit themselves, their families, and their communities. We at Wealth Coach believe that most people want to keep their money in their local communities to make the community a better place to live, to perpetuate their values instead of turning their dollars over to Federal State, and Local governments to be spent on projects they may not believe in or are inconsistent with their values.

Whether a person is just starting out on his or her personal financial journey, finishing college or graduate school, starting a career or business, getting married, creating Life Insurance and Investment Programs, planning for the education of children, planning for retirement, distributing retirement income that will last a lifetime, establishing a business, selling a business, planning a current gifting program, creating an estate plan, creating an endowment for a favorite charity, or using “Wealth Optimization,” to self direct Social Capital, someone from our team at Wealth Coach of Kentucky, Inc. can help him or her plan for a viable financial future. At Wealth Coach our goal is to help our clients achieve their goals.

Works Cited: A.L., Kennedy. "Statistics on Last Wills and Testaments." Legal Info. Demand Media. Web. 22 Jul 2014.

Calculators

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  • Rules of the Rollover

    Rolling funds from an employer's plan to an IRA enables you to maintain control regardless of your employment situation.