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Financial Planning > Behavioral Finance

Celebrate your financial freedom

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“Financial freedom is so intertwined with what a person wants to achieve in life. It doesn’t necessarily mean never having to work again, but instead has more to do with realizing your own dreams.”
- Ron Pearson

As an advisor, are you currently in a position to sit down with your clients and share with them the good news that has come out of the work you’ve done together? As we celebrate Independence Day this month, it is a great time to remind your clients of the financial freedom they have established through your relationship with them. Most clients enjoy a lifestyle today that is more lavish than that of a king of 100 years ago. This vivid comparison can quench a thirst for affirmation following the recession. You can be the one to provide it to your clients in the future, too.

Overcoming adversity as a nation
Ask your clients for one or two poignant memories of what they believe made America what it is today. This great nation has been faced with many challenges and endured great sacrifice to remain strong and independent. So, too, have your clients who have followed your advice over the years. While many things are best left to our elected officials and government–defending our country from enemies, the criminal justice system–much is left up to “We the People”–life, liberty and the pursuit of happiness.

As such, we must guide our clients still working toward financial freedom to take responsibility for the goals they strive to attain. Recommending that they share with their grown children their financial and health plans for the future and make the adjustments necessary now to ensure they do not outlive their retirement income is a great place to start.

Furthermore, the recent changes in the financial market and the economy as a whole serve as a stark reminder that everyone should have their assets well diversified. If your clients do not currently have life insurance and annuities as part of their portfolio, advocate the value in adding these as part of a well-balanced financial plan.

While Americans are guaranteed freedom as citizens, many are personally bound by their finances. Remind your clients of the journey necessary to achieve financial freedom and the opportunities it promises for the future. In the end, both as Americans and individuals, they should have a great story to tell, and it is up to you–the trusted financial advisor–to lead the way.


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