Welcome to this week's episode of Wisdom and Wealth! Check out below for an outline of today's discussion. 

• Common mistakes in financial planning:
  • Emphasis on retirement and portfolio return assumptions
  • Warning against exclusive focus on short-term gains and market volatility
  • Advocacy for concentrating on factors within one's control
• Importance of trust in financial planning:
  • Building trust through understanding clients as individuals
  • Stressing the significance of beliefs and principles in the partnership
• Constructing a cash flow as a critical aspect:
  • Highlighting the importance of understanding clients' unique goals and aspirations
  • Evaluating tax planning alongside income requirements
  • The role of cash flow in controlling market returns and optimizing tax efficiency
• Avoiding common pitfalls:
  • Caution against advisors focusing solely on returns and not understanding the client
  • The value of asking in-depth questions about family, beliefs, and tax planning
  • The potential downside of seeking higher returns without considering cash flow efficiency

Music by bensound.com