The Problem With Your Financial Plan

You should have a financial plan. What is a financial plan? Investopedia defines it as “a comprehensive evaluation of an investor’s current and future financial state by using currently known variables to predict future cash flows, asset values, and withdrawal plans.” Wow! Sounds complicated right? Not only is it complicated, but I also believe there are some major issues with today’s definition of a financial plan.

I want to actually break down the root of the words financial (finance) and plan. Finance at its root literally means “end”, as in the satisfying of something that is due. Planat its root means “map”, as in a drawing of directional instruction on a flat surface. So what is a financial plan? A map that satisfies something that is due. What is due? Your potential. A financial plan should be a map to the satisfaction of your potential. The current financial plan doesn’t have anything to do with you and instead is focused on exterior assets, products, and retail financial services. Let’s dive into the real problems.

1. Fear. The modern day financial plan is based on your fears. Most of them start out with a risk tolerance assessment. This is an assessment to find out what you are afraid of when it comes to the stock market. Why on earth would you create a map to the satisfaction of your potential by discussing fear first? Shouldn’t we be discussing your goals, dreams, and purposes first?

2. Asset Allocation. The next thing the modern day financial plan will do is look at your current asset allocation, determine what Wall Street believes is wrong with it, and then reallocate you to what Wall Street deems to be correct. This is what I refer to as an arbitrary. Somebody made it up. Some fat cat on Wall Street in all his genius decided you should invest your money a certain way and came up with a chart to sell to you. We haven’t even talked about anything important yet and we are already determining where to invest your money?

3. No income plan. There is not a single financial plan out there (other than the one I offer) that solves your present time income problem. It’s true. They all want to talk about risk, asset allocation, and how you’ll withdraw money at age 65 but they don’t solve the fact that your potential is due now, not when you’re 65! You need more money today. This means increasing your income, saving more money, and investing for income NOW.

4. It is passive. It is normal for you to receive a 30 page packet telling you about your assets, risks, and withdrawal plan that requires you to do no work other than to show up to a 2 hour meeting and keep giving your money to Wall Street. A real financial plan should give you daily, weekly, and monthly things to do, mid term targets to achieve, and long term goals to realize. A financial plan needs to be active. What’s the point of having a map if you’re not actually going to drive? It serves no purpose.

The current financial system is a 30 page door stopper designed to confuse you and create the necessity to continue to rely on Wall Street. A financial plan should be short, simple, action based, and create a map to the satisfaction of your God-given, ultimate potential. I don’t believe your current financial plan does that. That’s why I offer a tool called The Wealth Creation Formula. It is an on paper & online, written map to the fulfillment of your potential. If you’d like to create a Wealth Creation Formula, click here to request a call from my team. We will help you set goals, provide education, utilize coaching and accountability, introduce you to our community, and give you all of the resources you will need to own your potential.

Own Your Potential,

Jerry Fetta

Jerry Fetta helps his clients make money, keep it, and multiply it.

He believes everyone should own their potential. He believes you were not created to spend 40+ hours per week serving the 40-year-to-life sentence trading your precious time for money just to live in mediocrity.

However, the truth is that time and money must be exchanged. It just doesn’t need to be you making the exchange.

Jerry helps his clients create wealth that exchanges time and money on their behalf.

His clients see a 30% increase in income, a guaranteed increase in savings rate, and 8–12% fixed annual returns on their assets in the 1st 90 days of working with him.

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Jerry Fetta is the CEO and Founder of Wealth DynamX. Jerry’s mission in life is to help create millions of financially educated and wealthy families.