What we offer Advice & Guidance Get to know us Connect with us Login & Register Building my wealth Strategies to help grow your assets at any age The goal of building wealth Wealth means something a little different to all of us. Some imagine traveling the world, while others think of making a dream purchase. Maybe you want to be able to visit far-away family without thinking about the cost, send your kids to college, or be able to retire at the age of your choosing. While wealth may conjure different dreams, we all aim to achieve the same fundamental goal: live comfortably, debt-free, and well-prepared for whatever the future may bring. So how do you get there? The good news is, you don’t need to make a big salary or have a lot of money in the bank to start building wealth. Though wealth may sound grand, at its simplest form, it means your accumulation of assets, no matter how much. It takes planning, dedication, and a little time to begin building the kind of wealth that will benefit you and your family in the long run. For the strategies we’ve discussed, a financial professional can be an invaluable resource for your financial goals. He or she can help you create a strategy, stick to it, and devise strategies for making your savings work smarter through investments and insurance. How do I start to build wealth? To create the kind of wealth that allows you to achieve your financial goals, you must be willing to stick to a strategy and accept guidance. To build wealth that helps you save for retirement and develop a strategy for the unexpected, follow these first steps: Create a budget Eliminate debt Invest wisely Use insurance Wealth at any age in my 20s? in my 30s? in my 40s? in my 50s? Find a financial representative to help with your financial goals Find More Ways to Build Wealth As your savings begins to grow, consider ways to make that savings work smarter for you. The two primary tactics for getting the most out of your savings include investing wisely and building wealth through insurance. In the strategies we’ve discussed, we consistently advise to talk to a financial professional – and for good reason: a financial professional is an invaluable resource for your financial goals. He or she can help you create a strategy, stick to it, and devise strategies for making your savings work smarter through investments and insurance. Next steps Learn how to build a strong investment portfolio Get information about life insurance Identify what will matter to you in retirement Disclaimer 1 The statement assumes $381 per month at 25 years old versus $5,778 per month at 55 years old to accumulate $1M by age 65. This represents monthly savings necessary using a 7% hypothetical rate of return (compounded). This is for illustrative purposes only and not indicative of any investment. © Morningstar. All Rights Reserved. 2 https://www.epi.org/publication/retirement-in-america/#charts, Economic Policy Institute, 2016 All investments contain risk and may lose value. Diversification does not guarantee profit or protect against market loss. Securities products and advisory services offered through Park Avenue Securities LLC (PAS), a registered broker-dealer and investment adviser. PAS is a wholly owned subsidiary of Guardian and a member FINRA, SIPC. Investing in 529 plans involves risk, including loss of principal. Before you invest in a 529 plan, request the plan’s official statement and read it carefully. The official statement contains more complete information, including investment objectives, charges, expenses, and the risks of investing in a 529 plan, which you should carefully consider before investing. You should also consider whether your home state or your beneficiary’s home state offers any state tax or other benefits that are only available for investments in such state’s 529 plan. Section 529 plans are not guaranteed by any state or federal agency. By investing in a 529 plan outside of the state in which you pay taxes, you may lose the tax benefits offered by that state's plan. Withdrawals used for qualified expenses are federally tax free. Tax treatment at the state level may vary. Policy benefits are reduced by any outstanding loan or loan interest and/or withdrawals. Dividends, if any, are affected by policy loans and loan interest. Withdrawals above the cost basis may result in taxable ordinary income. If the policy lapses, or is surrendered, any outstanding loans considered gain in the policy may be subject to ordinary income taxes. If the policy is a Modified Endowment Contract (MEC), loans are treated like withdrawals, but as gain first, subject to ordinary income taxes. If the policy owner is under 59 ½, any taxable withdrawal may also be subject to a 10% federal tax penalty. 2020-92868 20220131 Customer Service Contact Us 1-888-Guardian (1-888-482-7342) Submit a Claim Resources Forms & Claims Find a dental or vision provider Find a financial representative Industry Professionals Find a Guardian benefits sales office Broker quote request New case implementation tracker Living Balance Sheet Terms & conditions Privacy policy Disclosures Data security Accessibility Telehealth NY Reg. 200 Confidentiality for domestic violence victims SEC Rule 606 Amendments to Broker Agreement State Disaster Updates Agreement to conduct business electronically © 2021, The Guardian Life Insurance Company of America, New York, NY. All rights reserved.