TRICORD TIDBITS

THE FIVE LEVELS IN THE HIERARCHY OF FINANCIAL NEEDS

​

Cash flow and basic needs:

• Covering food, housing and daily expenses.

• Ensuring the fundamentals, including our physiological needs, are covered financially.

​

Financial safety:

• insurance

• emergency fund

​

Accumulating wealth:

• Investments

• Paying down debt

• Will

• Saving for retirement

• Risk management

• Longevity

Financial freedom:

• Long-term care

• Children’s education 

• Retirement savings 

• Vacations.

​

Legacy:

• Estate planning

• Tax planning

• Business succession planning

​

I'm a paragraph. Click here to add your own text and edit me. It's easy.