Today’s episode contains four features
- Introducing a 5 Part Mini-Series: Part One — Starting with Clarity
- KickStarter Update — 12 Steps to Financial Freedom
- Shout Out to our Corporate Sponsors — still on the fence
- Another song from my friend Micah Peacock
5 Financial Planning Rules, Boundaries, and Limitations
1 of 5 (Clarity Planning)
The five pillars of planning — clarity, confidence, control, contentment, and communication — are really planning principles that are embedded in the process of financial life planning:
— Clarity
— Confidence
— Control
— Communication
— Contentment
While these five pillars of planning sound really good, be warned, each of these five pillars of planning can be used or abused. I’m creating a five part mini-series to outline a few rules, boundaries, and limitations related to each of these five financial life planning principles because I’m hoping to get you to think about the next step in your plan.
I promise these principles are important for your personal plan, your family’s plan, or even your business plan.
Starting With Clarity
Let’s not and say we did. Based on my 25 years in financial services, I promise you — most individuals, families, and yes even business owners find it more than a little challenging to put into words What Matters Most. And some of the folks I have worked with who could tell you exactly what they believed and why — were a little less than clear about how to connect their money with their mouth.
“Quote”
If Footmen Tire You, What Will Horses Do?
If starting with clarity is challenging for most regular people, how difficult do you think it must be for a financial professional who has to make a living selling his or her products and services.
Financial Advisors come in all shapes and sizes but there are only a select few who are real Financial Planners. A growing number of Financial Advisors go by the title Certified Financial Planner™ professional. Many of us earned that designation in order to be perceived as more credible so that we could sell more insurance or investment products. That was my motivation, I am a recovering sales addict.
Financial Sales Professionals invest a lot of time, money, and effort to hone a special set of sales skills designed to help you figure out What Matters Most. Armed with that information, it becomes very easy to convince you that my product, service, or strategy is the best solution to help you get from where you are to where you want to be in the future.
When I was a kid, I had to go to church “every time the doors were opened” and my Baptist church was opened a lot! One Sunday night we had a special event featuring a powerful piece of propaganda focusing on the evils of communism and the very real threat facing our nation at that time. I have been afraid of Russians ever since. And, I have come to love Tom Clancy novels, too!
The title of that movie was “If Footmen Tire You, What Will Horses Do?”. I think a good modern day analogy would be ISIS. If I wanted to remake the original movie, I would create a real villain — like ISIS — and associate it with a very real threat like say Muslims in my neighborhood. If I were still a Fundamental Baptist, I would be full of conviction. My conviction would give me a ton of clarity…
And that’s the problem with Starting with Clarity. What if you’re wrong?
Powered by Purpose
Your vision, values, and purpose may not be all that easy to put into words. Your life’s purpose may not ever be written on a napkin or posted in a 144 character tweet. Clarity about What Matters Most may scare you a little. I hope it does scare you a little. It scares me a little every time I ask myself or a client some form of the question: What Matters Most? Even though it scares me, I promise you — I’ll never stop asking. In order to create a real financial life plan that helps you lean into your purpose, I have to know What Matters Most.
Join me for the next episode in the mini-series: Five Financial Planning Rules, Boundaries, and Limitations:
- — Clarity
- — Confidence
- — Control
- — Communication
- — Contentment
Visit FamilyWealthBuilder.com or search check us out in iTunes, Stitcher Radio, or anywhere Podcasts are played.
I’m Jim Munchbach, Certified Financial Planner™ practitioner and your humble host.
Before you go, if you’re considering backing our KickStarter, take a listen to the short video script that explains what we’re building:
12 Steps to Financial Freedom — this will be our Signature Course for Motivated Millennials and Retiring Baby Boomers who want to build a financial foundation for your future. 12 Steps to Financial Freedom will feature The Ultimate Blueprint to Make Your Money Count. The Blueprint is the Big Idea in my book Make Your Money Count. If you decide to back our KickStarter for $25 or more, I’ll send you a Special Edition - signed - hard cover copy of Make Your Money Count along with an invitation to our Big Texas BBQ party on June 3 in Houston Texas.
So, here’s the audio for our KickStarter video. And then a beautiful song from my beautiful friend Micah Peacock.
Thanks for listening. If you want a reminder when I post the next episode, stop by FamilyWealthBuilder.com and sign up, give me permission to send you an email. I promise — I hate span as much as you do.
Until next time have a great week.
