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RFP Series (Thank You, Carl)

This should be helpful whether starting from square one on your own, or you already work with a good adviser. The more you're able to make money decisions through these lens, the better aligned your portfolio will be with what's important to YOU.

A special thanks to Carl Richards for his great work. I tried to highlight my favorite passage or quote from each podcast below. They're meant to be listened to in order.

Real Financial Planning Step 1 

"Be less wrong tomorrow, not precisely right today."

Real Financial Planning Step 2 

Client 1: "Putting their kids through the best school they can possibly get into is the single most important goal in their life. If they don't do that, everything else doesn't matter."

Client 2: "Education, you know what, I think the kids should pay for it themselves. We're really focused on making sure we have money for an annual trip with the family. Because creating those memories is the most important thing to us."

Client 3: "Trips, whatever. Education, whatever. We want to make sure we have the retirement that we're envisioning, and we're never worrying about money again."

Real Financial Planning Step 3

"Shame and blame serve no useful purpose"

Real Financial Planning Step 4

"Manage the tension between being a technical rock star and knowing that the line is incorrect no matter how good we are at drawing it." Real financial planning is about the course corrections, but you can't do the course corrections until you set the course."

Real Financial Planning Step 5

"Which of these 'goals' have the highest consequence of failure?"

Real Financial Planning Step 6

"Shifting from defender of outdated maps to guide in changing landscape."

Real Financial Planning Step 7

"Repeat forever."

"The plan is never done. The plan is never coming. It doesn't exist. There is no plan!"

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Source: Behavior Gap Radio


The content in these podcasts was prepared by the Carl Richards and is not intended to provide specific advice or recommendations for any individual.  Voya Financial Advisors, Inc. does not endorse its content, and the views expressed may not necessarily reflect those held by Voya Financial Advisors, Inc.   Voya Financial Advisors, Inc. makes no claims, promises, or guarantees about the accuracy or completeness of the contents.  Carl Richards is not affiliated with Voya Financial Advisors.