Do You Have a Plan or Do You Just Have a “Guy”?

Over the years as I have talked with people about their finances a common response is “well, I already have a guy”.  They are referring to their Stock Broker, Money Manager etc. I say to them “well, do you have a Plan or do you just have a ‘guy’?  Who is deciding what that guy needs to do for you?  Who is holding that guy accountable for creating the results you’ve hired him to create?  Who has designed the plan (Blueprints) that tell that guy (Subcontractor/Technician) what he needs to accomplish to make your dreams come true?”  The answer…..no one in many cases.

Consider a different approach: in our working together we create a set of blueprints designed to accomplish your dream life.  As part of those blueprints we have decided that 40% of your assets are going to just go into the most conservative strategy possible which is a guaranteed actual 7% annual return with a guaranteed lifetime income stream when you retire.  We also decide that you want 20% of your money in our most aggressive strategy where it’s traded every single night for four hours attempting to “increase your wealth little by little to make it grow” and compound it daily to target 20%-30% a year.  With the remaining 40% we decide to use a traditional money management approach and target 8% a year. 

Now is when we need a “guy”.  But, you are the one (with my help of course) telling that guy what we want from him. 

“Mr. _________ we want 40% of this money growing at an actual rate of 8% per year.  How confident are you that you are the best choice for the job?  Ok, we are going to review this every quarter to decide how we like your performance and if we are ever unhappy we will be moving the money to another manager or another strategy, do you still want the job?”. 

That is how you get results: you have a plan that says what you want the experts to do AND you have someone holding them accountable to actually accomplishing those results. 

Now, with a plan, clear instructions, and my help keeping them (and every other member of your team) accountable you have a much higher chance of reaching your retirement goals and honestly will probably either retire ten years sooner or retire with much more income to enjoy your golden years. 

So ask yourself “do I have a plan or do I just have a ‘guy’”

If you just have a ‘guy’ give me a call and we’ll hold them accountable together J

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Tags: Estate Planning, Investements, Retirement Planning, Tax Planning