Do It Yourself - Financial Planning
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Transcript of Do It Yourself - Financial Planning
“Do It Yourself” Financial Planning
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Can you? Would you?
Brian Weatherdon MA, CFP, CLU, CPCAAuthor, Speaker, Financial Planner.
Aligning your Wealth & Life to overcome fears andsecure your income, lifestyle, & comfort to age 105
How important are the results?
• If you’re a carpenter you may do your own woodworking. Plumbers do their plumbing.
• Lawyers might do their own legal work but ... they say who hires himself has a poor lawyer.
• If 80% of financial planners lack certification for financial planning, who hires those people?
• Maybe you’d do your own financial planning, wills, accounting, tax filing, & heart surgery.
Your life goals & dreams . . .
• What income & lifestyle will you achieve?
• When/how will you want to be totally free?
• How will money last for middle- & later years?
• Will life seasons and changing health increase financial needs at some point along the way?
See in Slideshare: “Health inflation crushes retirement dreams”
What if you ran out of money?
• Can you avoid losing 30-50% in bad markets?
• Will you average 4%? 6%? 8%/year forever?
• Can you capture returns 3% above inflation?
• Can you guarantee life income to age 105? See http://www.guaranteedincome4life.ca/blog/life-income-mandates/
Sell your Business without help?• Do your own valuation & marketing?
• What if you sold for 30-70% below value?
• You have what I call a stewardship team for your business. Would you want less for the wealth you get from selling your business?
• See & subscribe... “Exit Strategies for Business” http://www.guaranteedincome4life.ca/blog/exit-strategies-for-business/
Assess your Pension without help?
• Many pensions are under-funded. This means they may pay less than you ever saw on paper. It could mean a drop of 20%, 50%, or more!
• Getting the facts on your pension will be vital so you can choose: (i) the fixed income pension or (ii) consider a personalized arrangement.
• See & subscribe, “Exit Strategies from a Pension” http://www.guaranteedincome4life.ca/blog/exit-strategies-from-a-pension/
Invest your own Inheritance? (DIY)
• Do It Yourself has proven extremely dangerous for people inheriting family wealth. Legal and investment issues can soon arise to steal 50% to 100% of the inheritance in 3-10 years.
• See resources (last slide) for the power to secure and grow your inheritance. Align this wealth with the values of those who gave it, and enlarge your personal values & dreams.
DIY with Lottery Winnings?
• Do It Yourself is catastrophic when people win money. Resources (see on last slide) can help you sustain and celebrate your winnings!
• People have 0% of winning and 100% of losing everything in 1-3 years – becoming losers – unless they learn to use values and processes to lift them up as winners-for-life. (See final slide)
What future do you want in life?
• Some people have no idea what future they want or how they’ll live in retirement. That’s why I created, “Visioning your Retirement Lifestyle” to help design your future lifestyle, activities, joys and comforts
• Here’s a video to help design your future:
http://www.guaranteedincome4life.ca/resources/visioning-your-retirement-lifestyle/
How you can sustain life income . . .
• Brilliant people on their own have lost wealth and income they should have secured for life!
• Millions have lost wealth by DIY or choosing unregistered, unlicensed, uncertified advisors.
• Life Income Mandates is a process to align wealth management with the life you choose by creating perpetual and increasing income.
See http://www.guaranteedincome4life.ca/blog/life-income-mandates/
Abundance for future Life Horizons ...
• Life isn’t a flat-line. Future seasons will hold opportunities and misfortunes, both requiring the wealth to support your needs & lifestyle.
• Life Horizons Analysis is how we assess the income you’ll want in early, mid, and later retirement years. Security & flexibility become vital to you as life continues.:
See & subscribe: http://www.guaranteedincome4life.ca/blog/life-horizons-analysis-assuring-income-life/
Key questions to guide your future
• Whatever you choose to do for yourself (DIY) are you properly qualified/certified to do it?
• Do you want to reduce costs, enhance results, and build this into a wholistic, life-oriented “Certified Life & Financial Plan”?
• Who can you reach to discuss possible gaps in your planning? What resources will help you?
Resources to help get what you want
• Experience this website to help focus on your future: www.GuaranteedIncome4Life.ca
• Get 5-star book, Amazon/Kindle/bookstores: “A Lifetime Of Wealth – And How Not To Lose It” http://www.amazon.com/Lifetime-Wealth-how-not-lose/dp/1489579540/ref=sr_1_1?
ie=UTF8&qid=1380311791&sr=8-1&keywords=a+lifetime+of+wealth+--+and+how+not+to+lose+it
• Visit www.ALifetimeOfWealth.info