For an insight into retirement planning in California, this month we reached out to Zachary W. Herzog - Managing Member and Investment Adviser Representative of Wolfgang Capital LLC. In his role, Zachary is in charge of designing and implementing customized financial plans for the company’s clients - tailored to their goals, concerns and what’s important to them now and in the future. Wolfgang Capital’s team looks at all aspects of financial planning including Risk Assessment, Assets Allocation, Income planning, Wealth Maximization, Health Care Planning, Legacy Planning and Tax Strategies to create their comprehensive financial plan. Here Zachary tells us more about it.

 

What are the typical challenges that clients approach Wolfgang Capital with in relation to the management of their finance?

The majority of our clients want guidance on what to do - they don’t want to make wrong decisions when it comes to certain stages of their retirement. Social security, RMD, long-term care, retirement account management, income planning and tax strategies are most of the concerns that we come across. The biggest worry for our clients is whether they’ll run out of money at some point.

There are two phases in life when It comes to retirement planning - accumulation and income phase. A lot of individuals need help with their income phase of life and that’s what we do. The sequence of events risk isn’t something that’s talked about enough in our industry, so we try to protect our clients from the sequence of events risk when it comes to planning their income in retirement.

 

What are the most important aspects that need to be ironed out in order to achieve satisfactory result and a well-organized retirement plan for your clients?

We need to make sure to cover their income, asset allocation, risk assessment, asset maximization, health care, legacy and tax strategy planning, which is what our comprehensive financial plan does.
At Wolfgang Capital, we always make sure to understand our clients’ complete situation and goals before moving onto implementing solutions. We incorporate many different strategy assessments to really find out what their common concerns and goals are, so we can implement solutions that really accomplish their desires. Our team spends a lot of time on our clients’ cases at the beginning and on an ongoing basis. It’s important to us that our potential clients are serious about planning their retirement and unfortunately, not everyone is a good fit for our firm. We only work with people that are serious and dedicated to having a sound financial plan in place.

 

How can your clients ensure that as much of their wealth goes to their family on their death?

Legacy planning is a big part of the overall financial plan, which is why we incorporate 3rd party estate attorneys and CPAs when needed to make sure that the overall financial plan is passing on to their loved ones when clients pass away. We incorporate IRA planning and tax advantaged strategies to help pass the assets on to their family in the correct manner.

 

Does Wolfgang Capital offer any solutions in respect of maintaining and growing wealth for future generations of the same family?

Yes, we have several different reports that show the power of stretching or generational skipping. We also look into tax advantage solutions to maximize wealth transfer upon someone passing away.

“Our motto is to treat our clients like family.”

Website: http://wolfgangc.com/
Phone: 951-200-5084
Fax: 951-200-5093
Email: info@wolfgangc.com

Fee-based financial planning and investment advisory services are offered by Wolfgang Capital LLC, a Registered Investment Advisor in the State of California. Insurance products and services are offered through Wolfgang Financial and Insurance Agency LLC. Wolfgang Capital LLC and Wolfgang Financial and Insurance Agency LLC are affiliated companies. Neither Wolfgang Financial and Insurance Agency LLC or Wolfgang Capital LLC provide legal or tax advice. You should always consult an attorney or tax professional regarding your specific legal or tax situation. Wolfgang Capital LLC,Wolfgang Financial and Insurance Agency LLC and Zachary Herzog are not affiliated with or endorsed by the Social Security Administration.This content is for informational purposes only and should not be used to make any financial decisions.