Once we list these items, we organize them 1-5 to capture levels of priority for each. Undoubtedly, there are usually impediments or dangers lurking that could prevent them from achieving these key areas of progress. A few most noted are: Lack of a coordinated strategy, health concerns, unprepared for death of spouse, out of date estate plan, disorganized financial matters, higher income taxes or running out of money.
- Pride- Not willing to admit they need help
- Ignorance- Many people just don’t know what they don’t know
- Inertia- They’re not willing to take appropriate steps to get professional assistance
- Avoidance and Procrastination – Too busy and focused on the “tyranny of the urgent”
- Apathy- “It will all work out in the end”
If there is a commitment to address these dangers head on and they’re serious about making smart choices with their money, we can set specific plans to gain clarity on their future goals with names, specific dates and amounts. Then, we can begin to put action plans and strategies in place to address the dangers and improve the odds that their goals can become a reality. I hope you’re taking all the steps to honestly confront your financial dangers…
Any opinions are those of Thomas Fleishel and not necessarily those of RJFS or Raymond James.