Is creating and implementing a plan something you want to do on your own?
You should consider yourself the CEO of your family finances, and you need to run your household like a business and coordinate all areas of personal finance; cash flow, investments, insurance, taxes, and legal services. So, ask yourself this question: Do I want to commit the time and energy to doing this job myself, or should I delegate this critical task? What’s the first thing a smart CEO does? You guessed it, hire a CFO. In this one life, time is your most precious commodity. A long-term relationship with a reputable financial planner can give you the gift of time.
Whether you do it yourself or work with a financial planner, take the time to make sure your money is aligned with your most important goals and values, and I’m confident you will find the motivation to create a solid financial plan, as well as follow through on making it happen!
Where will your retirement money come from? If you’re like most people, qualified-retirement plans, Social Security, and personal savings and investments are expected to play a role. Once you have estimated the amount of money you may need for retirement, a sound approach involves taking a close look at your potential retirement-income sources.
We use the Smart Money philosophy: Whenever you need money, there’s a smart place to get it.
The Smart Money Philosophy prepares people for the certainty of uncertainty. The Smart Money Philosophy leverages one principle, two rules, and four skills: The principle is responsibility. In other words, people are responsible for the choices they make.
The two rules are:
1. Always prepare yourself for the certainty of uncertainty.
2. Always make your financial decisions after first reflecting on your personal values.
The four skills are:
Recognize (your thoughts, your emotions, your actions)
Reflect (on your personal values, on the big picture, on your goals)
Re-frame (your thoughts)
Respond (with a choice consistent with your goals and your personal values)
If you were to outline the Smart Money Philosophy, it would look like the following:
I. Death (financial implications)
II. Life (financial implications)
A. Sick or hurt or needing care (financial implications)
B. Healthy (financial implications)
Strong economy and markets (financial implications)
Weak economy and markets (financial implications)
This outline provides a simple and clear framework to make smart decisions. Reflecting on values before making decisions improves the probability that the decisions will be smart and will therefore, be more likely to prepare oneself for predictably unpredictable events. Values reflection won’t make anyone smarter, but it will make us more rational, and unfortunately irrational decision-making trumps high IQ every time.
Retirement Income Plan
Financial Plan Analysis
Personal Risk Tolerance Calculation
Investment Strategy Meeting
Investment Strategy Monthly Rebalancing
Annual Evaluation Meeting
Retirement Income Goals
Retirement Income Report
Financial Plan: Create a Financial Plan to grow your assets during the Accumulation Phase up to retirement. Investment Management: Manages your financial assets (stocks, bonds, currencies, commodities) according to an agreed strategy and rebalances monthly or according to technical indicators. Retirement Income Plan: Using a BUCKET approach it generates an income stream plan from your assets for the different stages of you retirement.
Schedule a complimentary meeting with Eric and let's start the SMART MONEY philosophy planning process.
Schedule an Appointment.
All Rights Reserved Securities offered through Securities America, Inc. Member FINRA / SIPC. Advisory services offered through Securities America Advisors. Eric McGinley is not affiliated with the Securities America companies. This site is published for residents of the United States and is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any security or product that may be referenced herein. Persons mentioned on this website may only offer services and transact business and/or respond to inquiries in states or jurisdictions in which they have been properly registered or are exempt from registration. Not all products and services referenced on this site are available in every state, jurisdiction or from every person listed. The College Funding Specialists and Student Loan Advisors are not affiliated with Securities America. Check the background of your financial professional on FINRA's BrokerCheck
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