INDUSTRY INSIGHT
YOUR FINANCES
SPONSORED CONTENT
A Winning Formula
for Financial Success
M
y oldest daughter is majoring in Biochemistry in college.
Biochemistry is the study of chemical processes within and
relating to living organisms. Like biochemistry we find many
symbiotic relationships in finances. We believe that in some cases a
few practical steps can produce new and effective outcomes. Let’s
explore key financial principles and how they relate to our financial
well-being.
#1. Simplify
During our early years of adulthood we are typically in an
accumulation phase. We accumulate income, savings, assets,
accounts, investments, debts, relationships, family members, and
many other things. While these are fulfilling acts as adults, at a certain
point we become cluttered and desensitized about the next thing.
Now is an opportunity to streamline and strategically remove some
of the noise, clutter, or peripheral assets we have accumulated and
consolidate.
In many cases our clients have turned their attention from the
accumulation of financial resources for themselves to laying the
foundation for additional generations of family members, or pursuing
#2. Focus
We cannot effectively focus on multiple things at once. Financial
affairs and decisions can be difficult and complex. So where should
we begin? We break down the spectrum of finances into eight
primary fundamental financial concerns that apply to all families in
some portion:
1. Financial Autonomy
5. Career & Business
2. Tax Planning and
6. Administration of Finances
Management
7. Investments
3. Estate & Legacy Objectives
8. Risk Management &
4. Debt Management
Insurance
We find that most individuals don’t have the capacity to address all
eight financial concerns at once. Select one or two and make them a
priority. Work with your advisory team to address the concerns that
are both important and urgent. Once those have been completed,
select the next set of priorities. Your professional advisor can spot
financial blind spots and help you identify which matters should be
addressed first.
#3. Energize
As humans, we commonly find ourselves at the peak of energy
when we have just accomplished a task or goal. A strategic,
organized, and well-paced approach to simplify and focus your
financial life can produce enough energy and momentum to tackle
the next set of priorities. Find your motivation to attain even a modest
financial goal and you will produce an energy byproduct to attack the
next one.
You will be inspired by how much can be accomplished with the
right mix of effort and time. To bring it back to a winning formula...
A little bit of Simplify with a lot of Focus produces Energized Action.
Simplify x Focus = Energize
We invite you to learn how our leadership, expertise and support
empower families, businesses and nonprofit organizations to take
great care of their total financial situation — now and in the future.
Who We Are…
• As fiduciaries – serving your best
interests and avoiding conflicts of
interest
• As financial strategists and
coordinators – helping you design
and take the actions needed to
take the best possible care of your
total financial situation
• As astute observers of
markets, politics, technology, and
demographics – helping you
assess the impact of global forces
on your assets, your community,
and your peace of mind
other avenues to support causes they care about in the community
at large.
This assumes that you already have a well-defined, disciplined, and
comprehensive investment strategy. If that is not the case, this would
be a simple, yet essential, place to begin.
McKinley Carter
Wealth Services
100 Bradford Road, Suite 400
Wexford, PA 15090
724-940-4400
mc-ws.com
McKinley Carter Wealth Services, Inc. (“McKinley Carter”) is an SEC-registered investment adviser. For additional information about McKinley
Carter, including fees and services, send for our disclosure brochure as set forth on Form ADV using the contact information herein. Please read
the disclosure brochure carefully before you invest or send money.
This Industry Insight was written by Brian T. Gongaware,
CFP®
Brian is a Principal of McKinley Carter, serves as Director
of Advisory Services in the Wexford office, and is also
a Certified Financial Planner™ professional. He uses his
deep expertise in client relationships and investment
management to help clients identify their financial goals
and needs, and design appropriate financial and investment
strategies.
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