Why Traditional Financial Planning Sets You Up For Failure

HOW DO YOU MAKE CONFIDENT DECISIONS ABOUT YOUR FINANCES?

PART  1 OF  A 6 PART SERIES

What is your rate, Bryan? That was the kiss of death question from a client when I was in the mortgage business. I knew right then and there my goal of helping someone make a confident decision about their mortgage was O-V-E-R.

Here was the challenge: Do you write 6.875% on the check you wrote to the mortgage company in the box next to the $ sign? Nope, you sure didn’t and never will, will you? So why is that the first question most people ask?

Is it because we all don’t know how to ask the real underlying questions that need to be asked. The world has “consumerized” and “commoditized” us all. The real questions, when it comes to decisions about our money, are rooted in and have a foundation in places that have nothing to do with, rate of return, market share, derivatives or fund fees.

In the financial services, planning, strategist, or whatever catch phrase you want to use after the word financial, everyone has access to the same products and services. No one has cornered the market on the “get wealthy pill or juice”. That product just plain old, doesn’t exist.

The real questions are rooted in places most of us never tend to consciously and intentionally  go when thinking about or making decisions about our money and overall wealth. The reason we don’t go to those places is because these questions are masked by the questions the world has beaten into us as “the right questions to ask”. They are beaten into us so much and through so many different avenues of influence it makes us think they are the right ones to get us where we want to go.

Ultimately the end game, no matter what questions you ask, point us in a direction to create more personal WORTH, financially and/or figuratively. So how do you create more WORTH by asking questions that serve you better?

A personal mentor of mine, Lee Brower, puts is so sysncly in his book “The Brower Quadrant” when he says:

“The whole notion of worth expressed in dollars is utterly meaningless when we think about how valuable we are to those around us and how valuable they are to us.

Are wealthy parents more beloved or more important than middle-class or working-class parents? Of course not.”

So why is the common thought that the almighty dollar is on a ivory post and should outrank anything else in our decision making process?

The answer is simple:

We are not completely aware of how to identify and optimize all the assets in our lives and how they are all intertwined, needing to live in harmonious balance with each other for us to make confident decisions.

Do you want to live a balanced or imbalanced financial life?

The reason why traditional financial planning sets us up for failure is that in only focuses on our financial assets; neglecting how it will influence and affect the other important and intertwined assets.

So, we need to take a step back and look at how we REALLY are making decisions. We need to become clear on our what and why before we choose any tactic, tool or strategy. The way to achieve True Wealth and completely enjoy financial abundance without neglecting our family, friends, communities and our own search for personal meaning is through the harmonious balance of all 4 of the asset classes in our lives.

The 4 asset classes we all posses are:

1. Our Core Assets - The essence of who we are
2. Our Experience Assets – The sum of our physical, emotional, mental and spiritual experiences
3. Our Contribution Assets – Our effect on others
4. Our Financial Assets - Our net worth
   

By giving yourself the ability to focus on all of these asset classes during  life and during the “financial” decision making process you can start creating more wealth and more meaning in all areas of your life. You start making confident decisions that empower you, your family and everyone around you.

Would you like more wealth and more meaning?

As you go through this series you will begin to understand what these 4 asset classes consist of,  how to start optimizing each of the them and identify how to use them to make confident decisions.

If you would like to schedule an appointment to speak with Bryan McDonald directly in more detail about these concepts click on this link now:  TALK WITH BRYAN

I am confident that you will enjoy these concepts as much as I do.  So, keep tuned in to the whole series and start making confident decisions

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