Explore Your Limitless Life

By Russell Kroeger, CFP®, EA

Sep 05

Have you ever dreamt of a life that is an unquestionable expression of your most authentic and ideal being? A life experience that also impacts the people/communities you care about in a way that reflects your values and beliefs?

If you haven’t, we invite you to explore what that might look like because your life experience is unique and you have something exceptional to offer the world. This is what we refer to as Your Life’s Work.

Paradigm Wealth co-authored “Serving Millennial Clients with a 3-Step Model”, which was published in the Journal of Financial Planning, to distill this philosophy into an approach to serving clients. Although the article was written for fellow CFP®s, to drive a serious dialogue around our Profession’s ability and duty to serve those outside of the wealthiest 10%, we have summarized the approach from the paper below and included a link to the publication at the end.

We feel this post is pertinent for our readers because it succinctly outlines how we serve clients at Paradigm Wealth, and may help explain how a relationship with a Financial Planner can effectively support Your Life’s Work – regardless of how much money you are able to invest.

Step 1: Use a Robust Discovery Process to Uncover Worldviews and Identify Your Preferred Future

We often choose a specific goal because one day we decided we’ll feel successful once we’ve purchased that Porsche, that house with a white picket fence, or have $3 million saved for retirement. These may even be expectations we are expected to live up to rather than authentic visions for our lives.

The problem is that we rarely have relationships with an independent, objective, and non-judgmental third party to make sure our goals reflect the priorities of our current reality, or if/how they should be adjusted to experience a life that is more fulfilling – one of subjective well-being.

Discovery is a process by which your Financial Planner, acting as a Fiduciary, holds the space for you to explore an authentic vision for your future, and helps make sure that your life and resource use is in alignment with your ideal-self.

Step 2: Craft Stewardship Policies to Overcome Scarcity Mentality and Clear the Path to Progress

When establishing long-term goals, every day we work toward that goal but have not achieved it, we are technically “failing”. This can cause us to think in terms of deficits, leading to feelings of scarcity – which acts as a tax on our mental bandwidth, making us less effective versions of ourselves.

Stewardship policies work as decision rules for how we allocate our resources toward our preferred future – which are co-created with the CFP® through Discovery, rather than being dictated by them. The use of policies establishes habits, which are easy to follow and anchored to what is most important to us, increase the probability of our authentic future occurring.

This means that instead of failing every time you have yet to achieve your goal, you celebrate acting in alignment with your ideal-selves. These little victories reinforce positive habits that will leverage the compounding nature of your actions over time to create possibilities that you cannot even imagine.

Step 3: Build Confidence in Decision-Making Through Collaboration

We face countless transitions (and potential transitions) from year to year – moving, switching jobs, getting married, having children, etc. Considering these transitions, we not only need to establish resilience to move forward without being knocked off track, we need to be nimble enough to take advantage of opportunities that align with the vision for our future.

The best way to accomplish this is to have an ongoing relationship with a CFP®. This is an open line of communication with someone who not only knows how to navigate the complexities of the financial and tax landscape, but a Fiduciary who also guided you through the discovery process and understands your values.

As life’s transitions emerge and new opportunities develop, you have confidence knowing that your plan reflects your ideal-self. When you want to collaborate about a decision, or even celebrate progress, you have someone in your corner every step of the way.

What next?

If you find this approach compelling, please don’t hesitate to reach out to us or find a CFP® Professional who you want to have as a resource as you explore life. We cannot overemphasize the unique opportunity we each have to make the world a better place, and we are excited to see how you contribute to your communities through Your Life’s Work.

The following article was co-authored with one of our best friends, Yusuf Abugideiri, CFP®, and was published as the cover article for the September issue of the Journal of Financial Planning – the award-winning, peer-reviewed resource for Financial Planning professionals: https://www.onefpa.org/journal/Pages/SEP17-Serving-Millennial-Clients-with-a-3-Step-Model.aspx


About the Author

Explorer of life, ideas, possibilities, and limitations. Nothing of me is original, I am the combined effort of everyone I've ever known. #UtProsim