TU #2 9.6.11

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TU #2: 9.6.11

Question: What is financial planning?

At MOST, a study in self awareness blending psychology and philosophy to articulate a set of values, establish a set of goals in alignment with those values, identify the paths that could lead to the completion of those goals, create and implement a plan to achieve them and continually review and revise the plan.

At LEAST, the comprehensive analysis of cash flow, net worth, investments, insurance, tax planning, retirement planning and estate planning.

Chapter 1

Money has no power other than that which we give it.

P.26 What is the value of money? (Bretton Woods Agreement) Gold Standard

P.25 There are 4 things you can do w $$

Question: What % of marriages end in divorce? Why?

I mentioned I got into this business for $$. Not why today.

Question: Is money powerful?

FV/PV

Question:

What's your earliest financial memory?

CFP(r) Financial Planning Process

6. Monitor the financial planning recommendations

Review and revise

5. Implement recommendations

Prioritize and implement

4. Develop financial planning recommendations

Develop course of action

3. Analyze and evaluate financial status

Analyze your entire financial situation

2. Gather client data, including goals

Determine values & goals

1. Establish & define the client/planner relationship

Be honest with yourself

Personal Money Story