Ensuring Your Investment Strategy Is Part Of An Overall Comprehensive Financial Plan - With Financial Advisor David P. Rasak of Northwestern Mutual

·6 min read

LOS ANGELES, CA / ACCESSWIRE / September 17, 2021 / Financial planning is an area that many people today are not entirely well-versed in. This is due partly to a lack of education or awareness and partly due to not knowing who to ask for guidance from, or where to go for it. For others, it is simply a matter of feeling like they do not have enough income, assets, or savings to warrant getting professional advice. Financial Advisor David P. Rasak, CFP®, CLU®, ChFC®, RICP® considers financial planning to be a lifelong process and specializes in building investment strategies that are integrated into a larger comprehensive financial plan. He takes the approach that financial planning is a comprehensive, thorough and very personal process. Understanding that each area of one's financial health affects other areas of life. Rasak views what he does as creating an all-encompassing financial roadmap for clients to take them from where they are today to where they want to be in the future.

Rasak and his team at Northwestern Mutual begin with a discovery process. This is helpful to Dave and his team so they can gain a better understanding of not only the granular details of his clients' balance sheets, but also to learn more about what's most important to them, what they value and where they hope their family will be in the future. They go into very intimate details to help their clients discover their core values and design a plan together to achieve their most important goals and dreams. He drills down deeply to really understand his clients and put them and not their wealth at the center of the process.

Rasak explains that his approach is tailored specifically to what people's goals and priorities are, and he spends a lot of time working to understand the granular details of what they want to accomplish. Dave has spent a decade specializing in the legal, commercial real-estate and medical communities. Rasak works to craft a financial roadmap for his clients that integrates short-term, mid-term and long-term goals, in the most tax-efficient1 way possible.

Rasak encourages his clients to establish three buckets of money: short-term, mid-term, and long-term:

  • Short-Term - This emphasizes the importance of having reserves and/or earmarking capital for big purchases in the next 12, 24 or 36 months. "There is the whole adage that you should have 6 months' worth of expenses in cash at all times for emergencies, and so forth. Cash is great, because it's flexible, and it's accessible. But it essentially earns zero rate of return, and someone could argue that you're actually losing money due to inflation. So, I want our clients to hold on to some cash, but I don't recommend hoarding cash unless they're going to utilize it on a big purchase or something of that nature in the next one to three years."

  • Mid-Term - Mid-term planning is roughly a four to eight year time frame. "That's where many of our clients are saying, look, we don't need these dollars today. We're willing to engage the capital markets." Rasak doesn't recommend investing in the capital markets if his clients think they'll need to use this capital in the next 12 to 36 months. He believes the markets are too volatile to invest in if clients need to use those dollars in the next 1-3 years.

  • Long-Term - The long-term bucket is something Dave often refers to as "over the shoulder dough". This is the area where he encourages clients to take advantage of qualified plans such as 401(k)s, as well as IRA's, cash value (permanent life) life insurance premiums, residential rental real estate, etc. "We really try to help our clients position themselves in this fashion because now we have some strategy as it relates to the dollars. Not only from a time standpoint, meaning short, mid and long, but also from a taxable perspective. Dollars in the mid-term bucket invested in a brokerage/advisory account are taxable, dollars in traditional 401(k)s and IRAs are deposited pre-tax and taxed at withdrawal, and dollars inside of Roth IRA's/401(k)'s are deposited post-tax and not taxed at withdrawal. This will ultimately provide more optionality in our clients' lives."

Rasak views it as his job as a financial professional to help people become better and more educated consumers. Rasak has spent a decade in the financial industry and is a CERTIFIED FINANCIAL PLANNER™ professional. In addition to holding his CFP®, Rasak also holds his Chartered Financial Consultant (ChFC®), Chartered Life Underwriter (CLU®) and Retirement Income Certified Professional (RICP®) designations from the American College of Financial Services. Dave also holds his Series 6, Series 7, Series 63 and Series 65 securities licenses. Rasak believes having subject matter expertise in financial planning, investment & portfolio management along with strategic retirement distribution planning ensures he and his team have the competence and know-how to help their clientele achieve even the most sophisticated and complicated financial objectives. He takes much pride in what Rasak describes as his purpose in life; to help people live life by design as opposed to by default.

Rasak splits his time between Los Angeles and Honolulu, however, his team helps clients plan financially all over the country. Connect with him online to learn more, and to see how you can start comprehensively planning for your financial future today.

1This publication is not intended as legal or tax advice. Financial Representatives do not render tax advice. Consult with a tax professional for tax advice that is specific to your situation.

Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company, Milwaukee, WI (NM) (life and disability insurance, annuities) and its subsidiaries. David P Rasak, CFP®, CLU®, ChFC®, RICP® is an Insurance Agent of NM and Northwestern Long Term Care Insurance Company, Milwaukee, WI, a subsidiary of NM. Registered Representative and may also be an Investment Adviser Representative of Northwestern Mutual Investment Services, LLC (securities), a subsidiary of NM, broker-dealer, registered investment adviser, member FINRA and SIPC. Representative of Northwestern Mutual Wealth Management Company®, Milwaukee, WI, a subsidiary of NM and limited purpose federal savings bank that provides financial planning, investment management, and trust services. There may be instances when this agent represents companies in addition to NM or its subsidiaries.

Certified Financial Planner Board of Standards Inc. owns the certification marks (CFP®, CERTIFIED FINANCIAL PLANNER™) and federally registered CFP® (with flame design) in the U.S. which it awards to individuals who successfully complete CFP® Board's initial and ongoing certification requirements.

Company Name: Northwestern Mutual

Contact Person: David P. Rasak, CFP®, CLU®, ChFC®, RICP®

Address: 515 S. Flower St. 34th Floor - Paul Hastings Tower, Los Angeles, CA 90071

Phone Number: 213-243-7017

Website Link: http://davidrasak.nm.com/

Send Email

SOURCE: Northwestern.Mutual

View source version on accesswire.com:

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting