Have you ever consider what impact external elements are going to have on your ability to thrive and retire one day? Let’s talk about the five core elements that have a huge impact on our financial security.
Have you ever heard, ask a better question and get a better answer? This applies to financial planning as well. If you’re asking the wrong financial questions and having the wrong financial discussions, you’re never going to land with the right financial solution. We learned many years ago that the traditional financial planning industry isn’t having the right financial discussion.
It was obvious from the beginning that the traditional planning process was and still is, based on math. The industry was using math to achieve future financial assumptions and accumulation results over a period of time. And let’s face it. Math is math. When done properly, it’s right. But here’s the problem. When applied to the future, the core elements change the results dramatically.
There are actually five core elements that are going to impact the accumulation of your wealth. Those five elements are risk, taxes, regulation, inflation and depreciation of the dollar. All of these elements are going to have a dramatic effect on the accumulation of your money. $1,000,000 today is not going to have near the buying power as $1,000,000 in 30 years.
But the problem is the industry is still using that math and saying, “Hey, you’re going to have $1,000,000”, and you’re thinking, I’m going to be able to have $1,000,000 based on today’s core elements. The problem is we don’t know what those core elements are going to be 30 years from now. Heck, we don’t even know what they’re going to be two years from now. And here’s the problem. Many of the financial solutions offered up by the financial services industry contain these five elements.
That’s why it’s important to protect your money from as many of these core elements as possible, namely, risk and taxes. Control what you’re able to control and the rest will fall into place.
You need to focus on controlling what you’re able to control, because, there are other elements that we aren’t able to control that are going to impact our financial security in the future. But, by controlling the things that we have the power to control, we are able to stack the odds in our favor.
But here are the questions you really need to ask.
Which of these five core elements do you want in your plan? Which of these five core elements do you have control over? Are the solutions you’re being offered, are they eliminating these core elements or are they feeding these core elements?
When it comes to financial security, it’s an important to protect your assets from all of these elements that you’re able to. If you’d like to learn more about how you can protect your assets from these five core elements, schedule your Free Strategy Session with us today.
And remember, it’s not how much money you make. It’s how much money you keep that really matters.