living a rich life: investing in what matters a... · living a rich life: investing in what matters...
TRANSCRIPT
Living a Rich Life: Investing In What Matters
Sara Gans, CFP®, ChFP® - Senior Manager, Private Client ServicesJamil Sanders, Manager, - Private Client ServicesWilliam Gandert, CFP®, RICP® - Manager, Wealth Planning
Panelists
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William Gandert, CFP®, RICP®
Manager, Wealth Planning234.466.1414
Sara Gans, CFP®,ChFC®
Senior Manager, Private Client Services330.255.4346
Jamil SandersManager, Private Client Services
234.466.1325
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As an independent financial services firm, our salaried, non-commission professionals have access to a variety of solutions and resources and our recommendations are based solely on what works best for you, not us.
About Sequoia Financial
Group
Discovering your Values
Aligning your Values
Implementing your Values
Agenda
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Discovering Your Values
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Values are defined as:• A person's principles or standards of behavior;
one's judgment of what is important in life• Ever changing based on life experiences
Why are values important?• Provide life framework
How are values developed?
Free • Free your mind from any biases or overthinking
List • Traveling• Saving for a down payment on a new home• Buying fine wine • Growing net worth • Social experiences & events • Saving for children’s education
Set • Set a realistic time limit to complete exercise
Brainstorming Your Values
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Establish criteria • What values hold the most weight in your
life currently? And why?• Short-term and long-term values
Select 5 to 10 most important values from your original list
Having difficulty?• Ask for perspective• Elimination method
Prioritizing Your Values
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Creating & having a budget can be enjoyable! • Check out our cashflow worksheet &
budgeting recommendations
Income – Expenses = Surplus Cash Flow
We recommend having multiple budgets: • A plan when cash flow is good • A plan when cash flow is tight
(prioritizing needs vs. wants)
Managing Cash Flow
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Establish an emergency reserve
Allocate surplus cash flow to align with values
Example: If you have excess cash flow every year, you could:
• Allocate cash to travel account• Save for a down payment of a new home • Start a college savings account for children and
contribute annually • Increase contribution to retirement plan • Save in a taxable account
Create a systematic plan to save
What To Do With Excess Cash
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Review annually or as major life events occur • Career Changes• Marriage/Divorce• Having Children
When To Make Changes?
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Why do we plan?
What does the plan give you?
How can your plan remain nimble?
Bringing It All Together
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How do your values fit into your overall plan?
How can you be prepared to adjust?
How do you effectively and efficiently implement your values?
Implementing and Adjusting
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Bucketing approach to savings• Goals based savings
Using technology to for planning• Static vs inflating cash flows• Stress testing• Outside variables
Efficient Planning
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Lessons learned• Established values are important• Your values matter (and they won’t always
remain constant)• Using assets efficiently to pursue values• Values shouldn’t be looked at in a vacuum• Implementing values into your planning
process
Summary And Next Steps
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Questions & Answers
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William Gandert, CFP®, RICP®
Manager, Wealth Planning234.466.1414
Sara Gans, CFP®,ChFC®
Senior Manager, Private Client Services330.255.4346
Jamil SandersManager, Private Client Services
234.466.1325
To begin the conversation, we invite you to schedule a complementary meeting with our Advisors. Visit www.sequoia-financial.com/talk or reach out to any of our panelists by phone or email.
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This material does not constitute tax, legal, investment or any other type of professional advice. You should consult with a qualified tax, legal or financial advisor prior to making a decision. The financial instruments discussed in this brochure may not be suitable for all investors and investors must make their own investment decisions based upon their specific financial situations and investment objectives. Information has been obtained from sources believed to be reliable, but we do not guarantee their accuracy or completeness. While we have taken great care in the preparation of these materials, we cannot be responsible for clerical, computational, or other errors. Except where otherwise indicated herein, the information provided herein is based on matters as they exist as of the date of preparation, and may not be updated or otherwise revised to reflect information that subsequently becomes available, or changes occurring after the date hereof.
Investment advisory services offered through Sequoia Financial Advisors, LLC, an SEC Registered Investment Advisor. Registration as an investment advisor does not imply a certain level of skill or training.
©2020, Sequoia Financial Group, all rights reserved.
Disclosures
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