The upside of good planning

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I’ve had times in my life where I’ve just felt overwhelmed, not knowing where to start or how to deal with something out of my comfort zone.

I’ve gotten discouraged, frustrated and ended up pushing things off indefinitely, feeling somewhat paralyzed… you ever feel that way?

Well, I think that’s how many people feel when it comes to managing their personal finances.

Not unlike a lot of things in life you have to address the problem, educate yourself and find someone you trust to help you…

It still amazes me to see the immediate positive effect a financial plan can have on people. For me, the most rewarding part of the planner/client relationship (and this whole business) is meeting with a client and going over a newly minted financial plan. The real enjoyment is seeing it all start to click for a client, watching him (or her) become empowered as a part of the planning process.

Hopes and dreams

This process is a very personal one; you become aware of what someones’ hopes and ambitions are, what makes them tick, how they got to be who they are, what they want out of life.

Most people really have no idea where they stand financially (in relation to the future) and when they go through this process, for the first time, you can see the relief, happiness and excitement as the financial self awareness builds. Sometimes to the point where they are overjoyed and emotional, especially if the modeled outcomes are good.

Clouds lift

You see the clients’ faces light up as the cloud of financial mystery is lifted. From where I stand, it’s probably the closest I’ll ever get to feeling what a doctor feels when delivering good news to a patient and his family. It makes you feel good about what you do and being part of all this.

The funny thing is not every plan comes back the way the clients would like it to be, many have a ways to go before achieving their goals. But that doesn’t seem to matter much, what matters is they know where they stand for the first time.

It doesn’t matter that maybe there’s a long journey ahead; the client is just happy to have something they’ve never had before… an enhanced vision of their future and a well calibrated financial compass to guide them. All of a sudden they have a wealth of information about their current status, along with solutions and a time-frame to achieve lifelong goals and dreams.

Often with formal financial planning there comes a renewed determination to achieve, a positive outlook for the future that transcends the process itself. And the cool thing is I get to deliver the message…

Tags: Featured, Financial Planning Retirement and Now!, Psychology Behind Financial Planning