Richard Blair started Wealth Solutions in Austin, Texas, in 1994. The principles behind the company come from his mother and grandmother who were both schoolteachers. It is Richard’s goal to help clients bridge the gap between preparing for and living in retirement. Richard builds his relationship with each client based on three pillars.
The first pillar is to design a financial road map for each client. The purpose behind the map is to identify the client’s current strengths and weaknesses. While creating the road map, Richard also works to identify the client’s risk tolerance along with their best opportunities for growth.
The second pillar is to develop a long-term growth strategy. Richard visits with the client to see where they see themselves five, 10 or 20 years in the future. They then develop a plan to help the client achieve those goals. Generally, a person needs a plan allowing them to have between 70 and 90 percent of their annual income during retirement.
The last pillar is to make sure that the client has appropriate insurance to cover any catastrophe. Richard particularly encourages almost every client to get long-term health insurance and life insurance.
It is very important to consider the cost of nursing home care because the average cost of nursing home care above $54,020 annually in Texas. Most people stay in nursing homes about 2.4 years, but with advances in medicine that number is increasing. Even those who are lucky enough to never end up in a skilled nursing facility may eventually need to pay more than $43,358 annually for homemaker services.
Richard Blair Wealth Solutions has over 20 years of experience in helping families in the Austin area build their financial success. From his office in Bee Cave, Texas, he gladly meets with individuals and small businesses who care about their future.
Richard’s goal is to provide unbiased and objective advice helping an individual prepare for whatever tomorrow may hold. If you are a resident of Austin or the surrounding area, then make sure to talk to Richard Blair Wealth Solutions about your retirement plans today so that you can create your own roadmap.