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Risk Management

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Effective Risk Management

Everyone has a different relationship with risk, and the risks you face can change depending on your chapter of life. As a business owner, you may want to have buy-sell solutions in place to ensure business continuity. If you’re older, you may wish to consider long-term care insurance - in fact, some states are starting to tax you if you don’t have it. And life insurance can be useful at almost any stage to provide for those who come after you. 

The Role of Insurance

Insurance is an excellent way to outsource risk management to another entity for a price. It becomes the wall keeping threats at bay. However, there is such a thing as being over-insured, so we review all policies to ensure the most cost-effective fit.

Here are some types of insurance we may review on your behalf:

Life Insurance

Long-Term Care

Disability Insurance

The Role of Diversification

Diversification is another critical aspect of managing risk. The more diversified your asset portfolio, the better your chances of weathering an economic downturn. Investment professionals typically apply this to stock, bonds, and other traditional holdings. However, full diversification should consider all asset classes, such as owning real estate or alternative investments. 

Why Choose Norberg Wealth Management

Our experienced professionals are committed to helping our clients build wealth and preserve it from threats. We work closely with you to determine what matters most and create a plan matching your priorities. Schedule a consultation to get the process started.

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