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Are You Looking For Financial Directions?
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Financial Directions offsets money lost because of setbacks. |
If you are a married (or plan to marry)
homeowner and at least one of you is healthy, take this quick self-assessment.
Have you survived setbacks or been affected
by others setbacks, like one or more of the following?* More importantly,
can
you see what distractions from setbacks have cost you?
Family or Health Problems
Have you survived a physical, social, emotional, mental or spiritual disability
from things such as accident, sickness, victim of abuse or prejudice, imbalanced
self-esteem, difficulty learning, substance or process addictions/compulsions, adoption,
being orphaned; the death of a close loved one or become a widow/er?
Have you had a difficult single life, marriage, separation and/or divorce or
had to relearn the finances? Did you have a dysfunctional upbringing,
single parent, divorced partner, difficult step-parent, remarriage, family merge
and/or a joining of finances in a new marriage; or your outgo exceeded your income?
Have you had a financial emergency, medical bills and/or bankruptcy?
Have you had to bail out extended family or difficult support of a child, parent,
friend and/or relative?
Education, Career and/or Business Problems
Have you had inadequate knowledge of education and/or career opportunities;
difficulty finding or deciding upon the right career or education?
Have you had unemployment; been forced into or out of business or self-employment?
Has your business had a lack of quality people or are your key people becoming
disinterested? Do you have inadequate business transfer or payroll
plans for retirement, disability, and/or death? Have you been spending too much
time on ____________ in your business?
Over-Involvement
Are you over involved in work, career, community, religious and/or
a volunteer activity? Are you an avid Hobbyist or _________________?
Inadequate Financial Advice and/or Product Loss
Have you had no advice, no service and/or poor follow-up; uncoordinated
sales or product driven advice with a formal analysis; conceptual advice with no
formal analysis or single-need analysis only?
Have you had poor company product and/or performance; misrepresentation
of the company, service and/or product; uncoordinated collaboration between you,
the planner, any networks and/or software; poorly timed buy or sell of volatile-designed
property?
Victim of Crime or Disaster
Have you been affected by a crime (identity theft, etc.) against you or a natural
disaster? |
One thing these people have in common is
that
setbacks may distract them into self-perpetuating
losses. Why?
Like sunglasses and illusions, setbacks change the vision and perceptions we
use to make financial decisions.
“Are mirages real? Certainly. Mirages are real mirages! …the angle
of the sun, your vision and the slope of the ground can converge and cause you to
see water where none exists.”
“Viewed from the senses, the mirage is real. Viewed from a higher,
broader perspective, the mirage is illusory.” -The Relationship Handbook by George
S. Pransky, PhD
You may be behind in your goals because of your setbacks or someone else’s.
You may not know it or don’t have the resources in time, money or expertise to explore
corrective alternatives. If so, you are likely leaving a lot of untapped money on
the table.
How much money are we talking about?
Suppose you took a trip to Nova Scotia, Canada. What would
your
final destination be if your plane was just a few degrees to the south?
Answer:
Deep in the Atlantic Ocean!
A pilot wouldn’t ignore course correction indicators, yet people frequently do this in their planning.
Notice the gap between the yellow lines
gets wider the longer you stay off course.
We call this compounding in the financial world.
Take one $100 a month problem setback that goes undetected or unresolved for 25 years.
With inflation and 10% interest working against you, it compounds
or grows to a $149,000 loss…enough to buy a house. How big are your shortfalls?
If you have
ten of these problems,
that’s $1.4 million and unresolved
for just 5 more years adds an additional $1 million to your loss, totaling $2.5
million! How long could you support yourself on that much?
Who gets Financial Directions from us? See if any of these are true for
you.
- I have lost enough to seriously
affect
my standard of living through retirement and need
help now if I am going to make it.
- I haven’t figured out what it will take
to make it through retirement. I don’t have time to do the necessary research and gain the expertise to
feel good about whatever financial plans I develop. I can be disciplined if I
know what will work for me.
- I am well prepared for retirement
but want
more funding due to recent setbacks or to cushion against worsening economic conditions.
I want to see how I can
go beyond what I have already done.
- I am not sure my plan/planner accounts for
costly setbacks. I am dissatisfied and
want a second opinion to ensure
I am likely to succeed.
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I am concerned about other financial goals.
I am ready to see and do something about my possibilities, but I am not sure what.
In an industry that has many volumes of information
rarely shared with the common person, we found Joel’s approach very refreshing…By
reviewing our existing program, Joel was able to provide us with information which
made it easy to see the advantages of his planning. -Gina B.
Now that you know who we work with and the impact of setbacks,
learn
what can be done and
how we work to
break the cycle of perpetuated losses.
*This assessment is based on an unsolicited study of the top 5 setbacks consumers reported as major
contributors to their financial losses.
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