There are many roads to travel in pursuit of financial independence. At ASG our process involves a 7-step perpetual flywheel approach we have found quite effective with our clients. The process begins when a new client comes to us after “deciding” on a new approach. As the old saying goes, “If you always do what you have always done, you will always get what you already got.” Want something different, then decide on a new approach!
The next step is to “organize and digitize” by pulling together all aspects of your financial life (i.e., budget, existing savings, investment and retirement accounts, benefits and insurance, debts and obligations, wills, etc.,) and entering them into some kind of digital planning platform that hopefully offers the ability to link your accounts for real time updating if so desired. In other words, create your own digitized personal financial portal that can easily, consistently and constantly updated.
From here, one’s current self can begin the process of being able to “visualize” one’s future self, good or bad. This allows a person to “prioritize” actions steps for improvement and “implement” them in a personally preferred order. Planning is much like playing pool whereby you can’t make all the shots at one time. You have to methodically make your best shot and leave yourself positioned to make the next shot until you can sink the proverbial “8 ball in the corner pocket.” Planning is no different with a patient process of making one shot at time. After the implementation process, whether fully or partially, the perpetual process of Monitoring and Adjusting begins as “life happens.” We are all faced with ever-changing facts and circumstances over time that require us to be back to the top of the flywheel with our current self deciding upon new decisions about how best to move forward and plan for the best outcomes for our future selves.
Jeff Acheson CPWA®, CFP®, CPFA™, AIF®, CEPA® draws upon his extensive experience, credentialed expertise and expansive relationships to provide perspective on a myriad of topics that impact the pursuit of financial independence.