Strait Talk Blog

Who’s Helping You Make The Big Decisions In Life?

Five Areas Where You Need A Trusted Advisor

The rugged individualist is a popular icon of American culture. Rugged individualists go it alone, needing no one and standing on their own two feet. Picture the Marlboro man or any Clint Eastwood movie and you get the idea. But there’s a problem with this picture. It belies something we all know to be true. Being alone is lonely. This is especially problematic when you have great big decisions to make with nearly irreversible consequences. That’s when you could really use a wise friend or even a team of people who know you well who can guide you. 

So I want to ask you a question. Who do you trust to help you make the really important decisions in life? Here’s why I ask. Big decisions represent a fork in the road, mutually exclusive options, in most instances. Turning to the left means that turning to the right is not an option. Sometimes, when a decision is made, there’s no going back. After thinking about this a while, I’ve come up with five areas where I believe you absolutely need a trusted advisor to help you make decisions you won’t regret. Let me share with you what I’ve learned after working closely with hundreds of families facing complex decisions.

Who’s Helping You Make The Big Decisions In Life?

Five Areas Where You Need A Trusted Advisor

The rugged individualist is a popular icon of American culture. Rugged individualists go it alone, needing no one and standing on their own two feet. Picture the Marlboro man or any Clint Eastwood movie and you get the idea. But there’s a problem with this picture. It belies something we all know to be true. Being alone is lonely. This is especially problematic when you have great big decisions to make with nearly irreversible consequences. That’s when you could really use a wise friend or even a team of people who know you well who can guide you. 

So I want to ask you a question. Who do you trust to help you make the really important decisions in life? Here’s why I ask. Big decisions represent a fork in the road, mutually exclusive options, in most instances. Turning to the left means that turning to the right is not an option. Sometimes, when a decision is made, there’s no going back. After thinking about this a while, I’ve come up with five areas where I believe you absolutely need a trusted advisor to help you make decisions you won’t regret. Let me share with you what I’ve learned after working closely with hundreds of families facing complex decisions.

How Much Should I Give My Children?

Four Guiding Principles To Prevent Unhealthy Money Conversations

I love being a parent. My children mean the world to me. One of the reasons I work as hard as I do is so I can provide for my children. But I do worry about something. My wife and I did not grow up with money. We both learned to scrap and scrape to make a life. We learned as young adults how to rub two nickels to make a dime. Necessity forced us to be financially disciplined. But my children will never know that kind of necessity. This leaves us wondering sometimes – are we giving our children too much? Are we robbing them of the opportunity to learn financial discipline?

I often find my clients struggling with the same question. Here is why this matters. If we give our children too much, they never learn to stand on their own two feet, something every parent wants for their child. But that also impacts us financially. Our financial futures can be put at risk if we give our kids too much. After reflecting on my own, and my clients’, experiences, I’d like to share with you four guiding principles to address this important and often difficult topic.

How Much Should I Give My Children?

Four Guiding Principles To Prevent Unhealthy Money Conversations

I love being a parent. My children mean the world to me. One of the reasons I work as hard as I do is so I can provide for my children. But I do worry about something. My wife and I did not grow up with money. We both learned to scrap and scrape to make a life. We learned as young adults how to rub two nickels to make a dime. Necessity forced us to be financially disciplined. But my children will never know that kind of necessity. This leaves us wondering sometimes – are we giving our children too much? Are we robbing them of the opportunity to learn financial discipline?

I often find my clients struggling with the same question. Here is why this matters. If we give our children too much, they never learn to stand on their own two feet, something every parent wants for their child. But that also impacts us financially. Our financial futures can be put at risk if we give our kids too much. After reflecting on my own, and my clients’, experiences, I’d like to share with you four guiding principles to address this important and often difficult topic.

5 Reasons You Must Take Risk To Achieve Complete Financial Independence

How The Risk-Reward Paradigm Benefits Long-Term Thinkers

My colleague Todd Sixt wrote a couple of great articles about achieving complete financial independence. In this article, I want to expand on an idea Todd presented that I believe will have a major impact on this goal—risk. My thesis is simple. Most people in this country will have to take risk to achieve complete financial independence. However, this is a topic that makes a lot of people uncomfortable. I totally understand that. Risk makes me uncomfortable too. None of us want to lose our wealth.

After more than a decade of serving clients in the financial services industry, here is what I’ve learned. Not all risks are alike. There are some risks I believe you should take and others you should avoid. Yet, after working with hundreds of clients, my observation is that most people are not taking enough of the right kinds of risk and sometimes take the wrong risks. Here are five guiding principles about risk that can serve you well as you work toward achieving complete financial independence.

5 Reasons You Must Take Risk To Achieve Complete Financial Independence

How The Risk-Reward Paradigm Benefits Long-Term Thinkers

My colleague Todd Sixt wrote a couple of great articles about achieving complete financial independence. In this article, I want to expand on an idea Todd presented that I believe will have a major impact on this goal—risk. My thesis is simple. Most people in this country will have to take risk to achieve complete financial independence. However, this is a topic that makes a lot of people uncomfortable. I totally understand that. Risk makes me uncomfortable too. None of us want to lose our wealth.

After more than a decade of serving clients in the financial services industry, here is what I’ve learned. Not all risks are alike. There are some risks I believe you should take and others you should avoid. Yet, after working with hundreds of clients, my observation is that most people are not taking enough of the right kinds of risk and sometimes take the wrong risks. Here are five guiding principles about risk that can serve you well as you work toward achieving complete financial independence.

Seven Strategies To Achieve Complete Financial Independence – Part Two

How To Never Worry About Money Again

I want to ask you a question. What would it mean to you and your family to achieve complete financial independence, where you never have to worry about money again? How would this change the trajectory of your life? How would this improve your outlook on the future? In my last article on this topic, I described the everyday, ordinary people that I work with who are in hot pursuit of this milestone. The interesting thing is that they’re not candidates to be profiled on that TV show Lifestyles Of The Rich And The Famous. Remember that one?

When we think of people who don’t worry about money, it seems we mostly envision the ultra-rich with their lavish lifestyles. But none of the people I know who have become financially independent live that way. Instead, they choose a different path in life. They practice many or all of the disciplines I’ll outline here. If you want to never worry about money again, these seven ideas could be the key to unlocking the future of your dreams.

Seven Strategies To Achieve Complete Financial Independence – Part Two

How To Never Worry About Money Again

I want to ask you a question. What would it mean to you and your family to achieve complete financial independence, where you never have to worry about money again? How would this change the trajectory of your life? How would this improve your outlook on the future? In my last article on this topic, I described the everyday, ordinary people that I work with who are in hot pursuit of this milestone. The interesting thing is that they’re not candidates to be profiled on that TV show Lifestyles Of The Rich And The Famous. Remember that one?

When we think of people who don’t worry about money, it seems we mostly envision the ultra-rich with their lavish lifestyles. But none of the people I know who have become financially independent live that way. Instead, they choose a different path in life. They practice many or all of the disciplines I’ll outline here. If you want to never worry about money again, these seven ideas could be the key to unlocking the future of your dreams.

Seven Strategies To Achieve Complete Financial Independence – Part One

How To Never Worry About Money Again

When I say the words “complete financial independence” what image comes to mind for you? Do you envision ultra-rich people living on a yacht? Do you see international jet-setters with lavish homes on several continents? Do you picture high-end sports cars with luxurious appointments? In other words, do you see something straight out of an episode of the popular 1980’s TV series Lifestyles of the Rich and the Famous?

If so, you might be surprised at what I’m about to tell you. Right now, my organization is helping numerous clients work toward complete financial independence and almost none of them fit the description above. Robin Leach (if he were still alive) wouldn’t profile these people because they seem so, well, ordinary. And yet, they have something that most “rich” people don’t have – freedom from money worries. If you or someone you care about would like to achieve this, here are seven of my best ideas for doing so.

Seven Strategies To Achieve Complete Financial Independence – Part One

How To Never Worry About Money Again

When I say the words “complete financial independence” what image comes to mind for you? Do you envision ultra-rich people living on a yacht? Do you see international jet-setters with lavish homes on several continents? Do you picture high-end sports cars with luxurious appointments? In other words, do you see something straight out of an episode of the popular 1980’s TV series Lifestyles of the Rich and the Famous?

If so, you might be surprised at what I’m about to tell you. Right now, my organization is helping numerous clients work toward complete financial independence and almost none of them fit the description above. Robin Leach (if he were still alive) wouldn’t profile these people because they seem so, well, ordinary. And yet, they have something that most “rich” people don’t have – freedom from money worries. If you or someone you care about would like to achieve this, here are seven of my best ideas for doing so.

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