TRICORD TIDBITS

THE FIVE LEVELS IN THE HIERARCHY OF FINANCIAL NEEDS
Cash flow and basic needs:
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Covering food, housing and daily expenses.
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Ensuring the fundamentals, including our physiological needs, are covered financially.
Financial safety:
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insurance
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emergency fund
Accumulating wealth:
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Investments
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Paying down debt
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Will
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Saving for retirement
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Risk management
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Longevity
Financial freedom:
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Long-term care
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Children’s education
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Retirement savings
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Vacations.
Legacy:
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Estate planning
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Tax planning
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Business succession planning
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