What Are The Key Components Of A Strong Financial Plan?

Money management without clear purpose is like driving without a destination—you might move forward, but you'll never arrive where you truly want to be. This episode dives deep into the three foundational pillars that make the difference between simply having money and having a purposeful financial plan.

Cody Stansell shares why your cash position might matter more than your overall net worth, explaining that even millionaires feel financial anxiety when they're cash-strapped. He recommends maintaining 6-12 months of expenses in liquid assets to prevent emotional decision-making during market downturns and provide true financial confidence. Beyond emergency protection, this liquidity gives you the freedom to seize opportunities when others are forced to sell.

We explore the surprising reality that many couples—even those who've been married for decades—have never had meaningful conversations about their financial goals. Cody draws a compelling parallel between financial planning and personal training: just as a fitness program requires clear objectives, your money needs direction to work effectively for you. The episode walks through practical conversation starters to help you and your spouse align your financial vision.

The discussion culminates with a detailed breakdown of the "bucket strategy" for retirement planning—a three-tiered approach that provides immediate security while still allowing for long-term growth. By segmenting your investments based on when you'll need the funds, you create both psychological comfort and financial efficiency. Whether you're two years or two decades from retirement, this framework offers a balanced approach to risk management that works in all market conditions.

To learn more about Steadfast Wealth Planning visit:
https://www.SteadfastWealthPlanning.com
Steadfast Wealth Planning
5550 Granite Pkwy, STE 270
Plano, TX 75024
469-606-2040

Meet the Host: Cody Stansell, Senior Wealth Advisor and Owner of Steadfast Wealth Planning

Meet Cody Stansell, the passionate Senior Wealth Advisor behind Steadfast Wealth Planning, where biblical principles and comprehensive financial expertise come together. Cody's approach isn't about selling products—it's about building lifelong relationships as a trusted financial concierge for his clients.

The comprehensive services at Steadfast Wealth Planning cover every aspect of financial life—investment management, retirement planning, tax optimization, estate planning, college savings, insurance, and more. But what makes their approach truly distinctive is understanding what clients really want. "None of them say their goal is to be wealthy," Cody reveals, "but almost all of them say they just don't want to be poor and have to rely on their children." By creating tailored plans that address these core concerns, Cody helps clients build the confidence to live financially free lives. In an industry where trust is everything—"very hard to obtain and very easy to break"—this client-first mentality has fostered a thriving practice built largely on referrals.

To learn more about Steadfast Wealth Planning visit:
https://www.SteadfastWealthPlanning.com
Steadfast Wealth Planning
5550 Granite Pkwy, STE 270
Plano, TX 75024
469-606-2040