July 2024 - Newsletter - Paramount Wealth Management

July 2024 – Newsletter

The Risk Inverse: Why Having More Money Means More Planning

You might assume that risk goes down as wealth goes up. Logically, having the means should mean less danger, more confidence, fewer worries. But risk likes to do the last thing you expect.

WHAT YOU’LL FIND INSIDE:

THE RISK INVERSE
CALENDAR
ADV DISCLOSURES
FUN FACT

Risk becomes increasingly labyrinthine as wealth grows, snaking into areas of your life and finances you probably never thought you’d find it. The hospital bill after a loose acquaintance takes a spill during a party at your summer home. The legal counsel you have to retain when you decide to chair a volunteer board.

For high-net-worth individuals, planning for uncommon sources of risk is a critical piece of financial planning. However, studies have shown that even for those with more awareness of risk’s ripple effect, there’s a preparedness gap.

Closing that gap starts with taking the time to consider the unexpected facets of your life it could touch:

Calendar

July 4 – Paramount office and the financial markets closed for Independence Day.

July 5 – Paramount office is closed

**Reminder…log-in to Client Access at least once every 6 months to maintain your paperless settings**

ADV Disclosure Delivery Settings

Soon, Raymond James will be sending ADV disclosures. These documents provide important information about Raymond James and the investment advisory services being provided to you, but they are lengthy – some are over 100 pages long.

For those of you with a Raymond James Client Access login, you can elect to receive the ADV disclosures via e-delivery. Please take a moment to be sure you have elected e-delivery for “Other Communications.”

If you don’t want to enroll in Client Access but also don’t want to receive lengthy ADV disclosures in the mail, you can receive them via email after providing consent. Contact Carroe in our office at 517-787-4444 if you would like to pursue this alternative.

Fun Fact

The Dollar Sign Was First Used in 1785

The first use of the dollar sign in the U.S. can be traced back to 1785, when it evolved from the Spanish symbol for pesos. It’s believed the $ originated from the abbreviation PS, which was used to indicate Spanish pesos in the Americas. Gradually the “S” came to be written over the “P,” eventually morphing into the dollar sign we know today.

Source: sofi.com

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The Paramount Wealth Management Team

The Paramount Wealth Management Team

420 South Brown Street
Jackson, MI 49203
517-787-4444
517-795-2530 (F)
www.paramountwealth.com

Don Hershberger CFP®, AIF®, CRC®, Founder and President, PWM, was named on the 2023 Forbes Top Wealth Advisor Best-in-State list. 2023 Forbes Top Wealth Advisors Best-In-State, developed by Shook Research, is based on the period from 6/30/2021 to 6/30/2022 and was released on 4/4/2023. 39,007 nominations were received and 7,321 advisors won. Neither Raymond James nor any of its advisors pay a fee in exchange for this award. More: https://go.rjf.com/3KsXbF7. Please see https://www.forbes.com/lists/best-in-state-wealth-advisors/?sh=181ba856ab97 for more info.

Investment advisory services are offered through Raymond James Financial Services Advisors, Inc. Paramount Wealth Management is not a registered broker/dealer and is independent of Raymond James Financial Services.

Any opinions are those of the author and are not necessarily those of Raymond James. The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete. All opinions are as of this date and are subject to change without notice.

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