Over the course of five Market Notebook entries, we explain what our top five takeaways were from The One Page Financial Plan and our subsequent conversation with Richards.
In The One Page Financial Plan, Richards tells one painful case where a client realized that her globetrotting travel goals were simply unattainable. It was a hard part of the book to read but an important one, for it is indicative of real life. After all disappointment comes when there is a gap between expectations and the reality of the situation.
The second key takeaway is that awareness is key. As humans, we like to avoid pain. A great example is budgeting. Budgeting to many is a scary word: something that, if applied “will hold us from buying what we want” and that make us “feel guilty about paying for the things we need.” In reality, however, a budget should be used as a tool for awareness.
When it comes to money and investing, the questions people ask themselves typically involve the usual suspects: When? Where? How? How much? In The One Page Financial Plan, Richards turns this on its head by asking the question “Why”. Why is money important to you?
Balentine Chairman and CEO Robert Balentine’s op-ed for the Atlanta Business Chronicle, “Living beyond our means: We are a financially illiterate nation,” discusses the rampant financial literacy crisis sweeping our nation. In this op-ed, Robert writes: One week after Hillary Clinton claimed she and her husband were “dead broke” after leaving the White House, Joe Biden has attempted to one […]