Carmen Grinkis Featured in the Bay Magazine

The following content was originally published in The Bay Magazine in November 2022.

Carmen is a Wealth Advisor and Co-Managing Partner of AAF Wealth Management, a division of AAFCPAs.

Queen Elizabeth II, the longest-reigning monarch in British history, has died at the age of 96. She certainly left a legacy in her 70 years on the throne. “There are some who bring a light so great to the world, that even after they have gone the light remains.”

The fact that she lived to 96 is itself amazing. It brought to mind the recent passing of my own mother, our mortality, and the planning we do for clients. We develop financial
plans by projecting our clients’ life expectancy to age 95. An additional year had no financial impact for the Queen. For many of us though, living beyond our expectations is a gift we hope to enjoy with health—and free from financial burden.

Our long-term planning encompasses a variety of elements, including life expectancy, investments, insurance, tax & estate planning, and budgeting. Now, as we navigate the unpleasant surge of inflation, we must adjust our plans. The stress on the financial plan is clear: if we measured for an historical average of 2.67% inflation but now see uncertainty in what that factor may be, we must adjust our paths to success.

We must think about what’s most important in our lives and make difficult decisions.

For some, lifestyle is at the top of the list. We can look at various assets and choose what to sell to maintain lifestyle standards. For others, the goal may be to ensure the next generation is taken care of; that could mean pulling back on short-term spending.

Now is the time to monitor and course correct.

Learn more about Carmen Grinkis, PhD, CLTC, CLU®, CFP®>>

AAF Wealth Management is a Registered Investment Adviser. Advisory services are only offered to clients or prospective clients where AAF Wealth Management and its representatives are properly licensed or exempt from licensure. This blog is solely for informational purposes. Past performance is no guarantee of future returns. Investing involves risk and possible loss of principal capital. No advice may be rendered by AAF Wealth Management unless a client service agreement is in place.