There’s nobody who believes in bucket list living more than Bill Sowell, the founder and CEO of Trek Wealth Solutions. Afterall, he has been helping clients do just that for more than 30 years. Here, he answers your bucket list questions.
Q: What, exactly, do you mean by bucket list living?
A: I believe that while we have our health and the ability, we should enjoy the fruits of our labors. That’s where “Bucket List Living” comes in. We all have things we dream about doing and we can make a list and check them off one by one. We can enjoy life today AND save for the future, but it requires a plan and discipline.”
Q: Why is bucket list living important to you as a financial advisor?
A: Being in the financial services industry for more than three decades, I have worked with countless people to build wealth and achieve what’s important in their lives. One thing I have always encouraged my clients to do is enjoy life along the way. It’s so easy to. have a single focus – like building a retirement nest egg – that people often fail to enjoy the things that bring joy to their lives in the now.
Q: When should someone start bucket list living?
A: Now. No really, you can begin bucket list living at any age. Really, bucket list living is a mindset, more than anything. Just start thinking and believing that you can make the time, and save appropriately, for the things in life that truly matter. And do it! Of course, the younger you are, the more time there is to plan, and to ensure funds are allocated into the financial buckets you need to make dreams come true. But it’s something that can be done at any stage of life. What’s important is that you don’t get to retirement having not lived life along the way.
Q: Is there a process you use to help your clients make their bucket list dreams a reality?
A: Yes, the first step is creating your bucket list. Creating a bucket list allows you to consider your values and goals and to identify milestones and experiences you want to have in your lifetime. The next step is assigning the time horizon for each item. Based on the timing, we choose the right “bucket.” The buckets are liquid cash, lifestyle, lifetime and legacy. Each bucket is comprised of different asset classes. If this sounds complicated, don’t worry. We manage it all for you.
Q: Is it common for financial advisory firms to encourage bucket list living?
A: No, and we think that’s a missed opportunity. To us, it just makes sense. For the team at Trek Wealth, life isn’t about waiting for retirement, though that’s the philosophy of so many advisors – just save, save, save. We think life is about experiences AND investing wisely for retirement. We’re here to help you do both.
Advisory services offered through Sowell Management, a registered investment advisor with the Securities and Exchange Commission; being registered with the SEC does not imply a certain level of skill or training. Past performance is no guarantee of future results. All returns are presented on a time‐weighted basis and presented net of fees. Returns are annualized for periods greater than one year. Asset class, stock sector, bond sector, and geographic breakdowns are based on Bridge’s security classifications, who in turn relies on asset classifications from ICE and Fiserv and may not be identical to classifications from other sources. The change in investment value of your holdings reflects the appreciation or depreciation of your holdings due to price changes, plus any distributions and income earned during the report period, less any transaction costs, sales charges, or fees. Gain/loss and holding period information may not reflect adjustments required for your tax reporting purposes. You should verify such information when calculating reportable gain or loss. Sowell Management specifically disclaims any liability arising out of a customer’s use of, or any tax position taken, in reliance upon such information.
