The key to our client’s retirement success is defining what success means to them both in the short term and long term. It’s easy to say you want to make money and do well in the markets. But our clients know what is important to them and have a strategy to get there. Defining the type of lifestyle you want to live and why is the key to building a successful plan. By knowing your goals and documenting them thoroughly we can build flexibility into our clients Insight-Full® plan by taking the appropriate risks at the right times.
Knowing what we’re working towards enables our team to strategize all the different ways we can get you there. When clients take unnecessary risks in order to achieve goals they put the likelihood of achieving their retirement goals at risk. At InSight we refocus on the values our hold and meaning in life that our clients desire, to help them find the right assets to get there.
When clients build out their strategy they get the most optimal plan given the current environment. But at InSight our CFP go a step further and review alternative strategies that traditional brokers can’t or don’t provide. For example, if you can’t stand the idea of debt and want to get out of it as soon as possible, then we build a plan around that. Client’s that know their options tend to find they have greater comfort with the plan they choose. It’s emotionally driven or academically driven because at the end of the day the best plan is what enables you to do the things you want while staying in your comfort zone.
Client’s that can separate greed from happiness tend to make better financial decisions and get to retirement easier. Decisions that are based on whether or not it shares their values. For example, does having the most impressive car in your neighborhood make you a better parent or coworker? Probably not. But does taking that money you don’t spend on the nicest car to take your family on a trip across the country to visit National Parks or your employees on a fun trip to end a great year make for a better result? To InSight, it’s not about budgeting to save more, it’s about saving more to create better experiences that represent what you really value.
When we understand what our clients goals are we can then work backwards to formulate the game plan we need to start implementing today. Whether you’re trying to sustain your current spending or a percentage of it, get a vacation home, or travel the world, understanding what will make you happy is a fundamental item we address with our clients in the Insight-Full® planning process. Without a clearly defined set of goals, we have no vision to accomplish. It is important our clients think about what a meaningful life outside of work looks like to them so we can create the plan to get there.