Seek Financial and Insurance Advice From Richard Blair Before Engaging in Short Term Rentals
Wealth Solutions, Inc., was founded by Richard Blair and it is now a registered Investment Advisory firm based in Austin, Texas. Blair seeks to offer his community members with a practical financial roadmap to guide them through many milestones in their life as they try to reach their wealth goals. Richard is particularly known for his Three Pillar Approach. The approach used by Blair allow him to have a holistic plan for the current financial position and retirement needs of a client.
The first pillar is all about the client’s financial plan. The role of Richard Blair is to determine the route by identifying the client’s strengths, goals, risk tolerance, and opportunity for growth. This pillar helps Blair develop a robust and lasting relationship with his clients as he helps them develop a financial plan. It is the time Blair can understand the client’s individual goals and concerns, and establish clear expectations.
The second pillar is one Blair has designed to help him develop a long-term and effective investment strategy which fits into the client’s unique liquidity needs and individual goals. The role of Richard is to reallocate and manage assets for the client to capture the maximum performance during the period of upward market movement. Also, Richard has a role to ensure the impact is minimized on the client during adverse market periods. Blair has to keep the performance on the track and compare it to the client’s expectations whether historical or imaginary future goals.
The third pillar for Richard Blair is evaluating the insurance needs of his clients. According to Blair, no one can be able to predict when the storms will hit, but it is possible to stay prepared adequately just in case the storm hits. Richard has vast experience on insurance matters and advises his clients on life insurance, annuities, asset insurance, and long-term care insurance.
With many people looking for an extra income to meet their financial goals, many people have turned to short-term rentals to supplemental these needs. Short-term rentals you provide to travelers with companies such as Airbnb is good because it helps you get extra income and it helps the travelers to get a place to spend with lower rates than a stay in the international hotels. However, many people do not consider the implications of short-term rentals. Homeowners insurance do not cover any damages caused by renting part of your house for commercial purposes. To avoid such issues, it is important to get advice from an insurance professional such as Richard Blair.