I’m reading the book, The 100 Year Life. It’s a bit of a slog and it brings up some great questions that we need to be thinking about.

In the investment management world there is always a concern that customers and clients move their money at the very worst time. This is often caused by something called loss aversion.

I often go to financial planning conferences, and the topic of planning for business owners comes up. When I listen to the solutions and methodology I see presented for business owners I often cringe.

You see, planning for a private business owner is not like planning for someone who works for IBM. It's much simpler planning for someone who is an employee versus someone like you who's an employer.

For the past several years I've been focusing on planning for business owners that works and provides a roadmap to financial freedom. 

The main reason you want to hire an investment/wealth manager is to help you avoid investment disasters, if possible.  If you look at the research firm Dalbar, you’ll see that too many investors make the same mistakes and as a result, get a return that’s much lessthan the market.

Talking With Our Millennial Kids About Money

One of the recurring themes I see with my clients is how to have a conversation with their Millennial children about money and responsible behavior towards money.  I found this article by Tom Sperling you're going to want to read.

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Your first question might be what the heck is client facing planning?  We’ll get to that in a few minutes.  Just be aware it’s something you should be interested in. 

Why you might ask?  Because it puts you at the center of the planning engagement.  Too often people like you might be convinced to do a financial plan, then you turn over your information over to a financial planner and wait for your financial guru to tell you what you need to do. 

The problem with this is you are giving up your power and waiting for an “expert” to tell you what to do.  I don’t want you to do this and here are 6 reasons why. 

First, what is client facing planning?

We often think of scenario planning to be something that only businesses do.  Why don't you watch this five minute video and learn why scenario planning is just as important for individuals as it is for businesses?

Learn what it takes to have a successful investment portfolio.  Let me know what you think in the comments below.

I remember my sister talking about buying a car and how the car salesman would only talk and look at her husband.  I can’t tell you how annoying she found this.  She kept going to different car dealers until a car salesman would work with her and not her husband.

You might say that she should have left her husband home.  If she did that, she wouldn’t be able to use her knockout on whether she wanted to use that particular car dealer.  She wanted to make sure that the car dealer worked with her and not her husband.  In the end, she really didn’t care as much about what type of car, she cared about being dealt with as the key buyer.

I know this sounds kind of silly and as I read this, I would agree.  At the same time it brings up a really important point……..Women make many more financial decisions that affect a family than we admit.

My own opinion about this.