Financial Life Planning Gets Beneath the Raw Numbers

 I recently traveled to Beverly, MA to attend the Kinder Institute’s 5-day Life Planning training.  The Kinder Institute is internationally recognized and founder George Kinder is a thought leader in the Life Planning movement. The 5-day advanced training was well structured and the experiential teaching format was powerful. I walked away with a deeper understanding of how to promote a stronger relationship between financial resources, personal values and aspirational goals.

One example that comes to mind is that money matters are often thought about in terms of numbers:

  1. I make $X
  2. I’d like to save $X for retirement
  3. Our debt is $X
  4. I own a home worth $X
  5. My investments are worth $X

These concerns represent the raw data, facts and resources that make up your financial life.  To get beneath the numbers takes some additional exploration. Spending time up front to figure out what's most important to you creates a bridge between financial numbers and the life you strive to live.  A personal vision statement is an inspirational document that goes hand in hand with your financial plan. 

At The Center, we are fortunate to have many long-term relationships with clients. My experience at the Kinder Institute was an exceptional opportunity to learn new skills to better serve our clients and the financial planning process that is core to The Center.

Laurie Renchik, CFP®, MBA is a Partner at Center for Financial Planning, Inc. In addition to working with women who are in the midst of a transition (career change, receiving an inheritance, losing a life partner, divorce or remarriage), Laurie works with clients who are planning for retirement. Laurie was named to the 2013 Five Star Wealth Managers list in Detroit Hour magazine, is a member of the Leadership Oakland Alumni Association and in addition to her frequent contributions to Money Centered, she manages and is a frequent contributor to Center Connections at The Center.

Five Star Award is based on advisor being credentialed as an investment advisory representative (IAR), a FINRA registered representative, a CPA or a licensed attorney, including education and professional designations, actively employed in the industry for five years, favorable regulatory and complaint history review, fulfillment of firm review based on internal firm standards, accepting new clients, one- and five-year client retention rates, non-institutional discretionary and/or non-discretionary client assets administered, number of client households served.

George Kinder and the Kinder Institute are independent of Raymond James. C14-000816