“Our goals can only be reached through a vehicle of a plan in which we must fervently believe, and upon which we must vigorously act. There is no other route to success.” -Pablo Picasso
Let’s cut to the chase. Should everyone have or strive to have a personal financial planner? The answer is a resounding yes. Are we there yet as a society? No. Are we getting there? Yes.
If any of the following apply, you should be interviewing planners ASAP:
- You consider yourself “okay” at managing finances, but need help “putting it all together” integrating the parts to analyze the whole.
- You don’t have a current and dynamic financial goal plan, but want one. You feel being accountable to and empowered by this plan would be valuable in your life.
- You value long-term principles and proven processes, not quick fixes or empty promises.
- You feel you need to delegate the vast experience required in this area, but still want to be the decision maker; engaged and learning throughout the process.
- You are a hard working person with an attitude towards personal growth, progress, and maximizing your life’s resources.
As a good dentist is for our teeth, a good financial planner is for our finances. Why would someone have a consistent maintenance checkup program with a dentist? It centers around two core topics: avoiding the bad and having the good (in order of likely importance):
Avoiding the Bad (with the dentist). Teeth are too important to make significant mistakes. Our dental professional is trained and experienced to help us avoid the bad. What is the bad? How about tooth decay, cavities, gum disease, tooth erosion; to name a few. What’s the prevention process? A plan of daily flossing and brushing. That’s not enough. We need the checkup to catch problems, fill the gaps of our lack of perfect maintenance, and dealing with significant changes.
Avoiding the Bad (with the planner). Finances are also much too important to make significant mistakes. A financial professional needs to be trained and experienced to help us avoid the bad. What is the bad? How about no plan, no clear goals or direction, overspending, lack of savings, too much debt, poor investment philosophy, costly investment options; to name a few. What’s the prevention process? A plan of organization, accountability, and aligning resources (budget, net worth, etc.). That’s not enough. We need the ongoing checkups to catch problems, fill the gaps, and deal with life and its inevitable changes.
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Having the Good (with the dentist and planner). We also want the positive achievements that come with a wise process. We want healthy strong teeth. We want a financial plan that reflects our personal priorities and increases our probability of success. We want clean white teeth. We want a plan that integrates our myriad of financial items into one cohesive place. We want to look and feel good. We want to achieve our dreams and goals, living out our true selves.
We need a plan of action that we’re committed to. A plan to avoid the bad (playing defense) and to have the good (playing offense). We need a balanced approach. Is that possible to do on our own? Possible yes, probable no. Is it a matter of willpower? Is it lack of time or lack of training? We must weigh the value. It’s too important to mess this one up.
Do you have a dentist and a planner? Or, just a dentist?
“I told my dentist that my teeth are going yellow. He told me to wear a brown tie.” -Rodney Dangerfield
