Three Common Financial Blind Spots and How to Navigate Them

To better protect your wealth, keep your eye on tax efficiency, appropriate insurance coverage and the possibility of multiple market outcomes.

A blindfolded businessmen is about to step off the edge of a cliff.
(Image credit: Getty Images)

Just as drivers should when merging onto the highway or backing out of a parking spot, investors should be checking their blind spots when considering factors that can impact wealth accumulation.

After all, building a nest egg for future generations can take decades of hard work and discipline — but that wealth can erode quickly if investors aren’t keeping their eyes peeled for hazards along their financial journeys. One estimate indicates that a staggering 70% of families see their hard-earned wealth wiped out by the next generation, with 90% experiencing this pain by the third generation.

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Nathan Hoyt, CFP®
Chief Investment Officer, Regent Peak

As the Chief Investment Officer at Regent Peak, Nathan provides objective advice focused on guiding families toward optimal outcomes in their financial lives. He believes every family deserves a financial plan customized to their personal priorities. Nathan prides himself on simplifying the variety of complex financial affairs for families in order to inform and guide their decision-making processes. Prior to joining Regent Peak Wealth Advisors, Nathan worked for 10 years at Robson & Associates at Merrill Lynch, a high-net-worth wealth advisory practice, serving families who were at important crossroads.