I entered the financial services industry in late 2003. After receiving a finance and management degree from a private liberal arts school in Kansas, I embarked on a journey that continues today. I went on to get professional designations, a CLU and ChFC, through the American College. I reside in Fairway, KS with my wife Kelli, my son Liam, and two rescue dogs, Juno and Sampras (it could be debated on who rescued who, though). I am an active member of the BMA Foundation here in Kansas City and a huge proponent of The KC Pet Project.
As my professional practice continues to evolve and grow, one thing remains consistent–planning has many components. However, I've found that two simple questions help clients develop their plan.
How much do I save? Where do I need to put it?
We live in a world where technology puts so much information at our fingertips. Google search “financial planning” and look at the results. The lack of education around retirement planning never ceases to amaze me. Trying to find the “best stock” or “best mutual fund” year in and year out. Television shows with talking heads that believe they know what the best stock is and how you should allocate your dollars are easy to find. If this is your only strategy I believe you are pigeonholing yourself.
Accumulation is very important, but if you don’t have a distribution plan, even in your 20s and 30s, you are setting yourself up for failure. The norm used to be “if I stay at my company for 30 years, they will take care of me.” The fact is companies have cut out pensions, which means creating a plan for distributing your dollars in retirement is up to you.
My partners and I founded our independent financial firm, Premier Income Partners, on the foundation of education, accumulation, and distribution. We have a process that walks you through today’s shortcomings and creates a plan that provides stability as well as a light at the end of the tunnel. We include a continuing evaluation by seeing our clients at least once a year.
The only thing that is constant is change.
We need to always be evaluating changes in your personal and business life, and of course the marketplace. We believe being proactive is key.