Is Finan­cial Plan­ning a Team Sport?

When I say finan­cial plan­ning, what pops into your head?

Bor­ing? Scary? Intim­i­dat­ing? Tedious? Overwhelming?

Or maybe even…

How do I not get ripped off? What about Team Sport?

Finan­cial plan­ners take two basic approach­es to advice-giving:

  1. They intake your infor­ma­tion and pro­vide you a plan to follow.
  2. They help you dis­cov­er your plan.

What kind of plan­ner is best for you? It depends on your per­son­al­i­ty and style.

If you just want some­one to tell you what to do, so you can get on with it, a tra­di­tion­al finan­cial plan­ner is for you. You give them data, fill out forms and answer some ques­tions about your goals. They give you a plan. Over and done.

If you like craft­ing your own path, if you like being in charge and in the dri­ver’s seat, but the idea of study­ing finan­cial plan­ning for years makes you feel ill, you need a coach. With your coach, you and your spouse form the team.

Many of us thrive in a coach­ing envi­ron­ment. My expe­ri­ence is when clients choose to be coached, rather than hav­ing a plan pre­pared for them, some inter­est­ing things happen:

  • fun became a com­mon word used to describe the process
  • pri­or­i­ties shift­ed as cou­ples devel­op their plans
  • the finan­cial plan became a life long deci­sion-mak­ing tool
  • cou­ples expe­ri­ence less finan­cial conflict
  • over­all engage­ment soars

I recent­ly did a pod­cast for my peers, explor­ing our finan­cial plan­ning and coach­ing process. Lis­ten­ing might help you dis­cov­er if a coach­ing-type rela­tion­ship is for you. It also may help you craft a set of ques­tions to dis­cern if a poten­tial plan­ning or coach­ing part­ner is a good fit for you.

Enjoy the video. Let me know if it helps you on your jour­ney. Reach me at Mackey@MackeyAdvisors.com.

Keep pros­per­ing,
Mackey

Mack­ey McNeill, Founder
MACKEY™ and The Pros­per­i­ty People™