By Scott Ford, CEO of GAAM Wealth Advisors
We live in an age of information overwhelm. If we have a question, countless answers are at our fingertips. And while many of the answers and advice out there can change our lives for the better, sometimes we just don’t know where to start. This is especially true when it comes to finances. If you want to eliminate debt, there’s the snowball method or the avalanche method as well as a plethora of debt reduction calculators. If you are worried about saving for retirement, multiple articles will give you a variety of different percentages you should be contributing to your retirement accounts and giving you advice on what accounts you should open.
If you are simply wondering what it will take to set your finances up for success and build a firm foundation for the future, step away from your search engine and consider my three rules for pursuing financial success. These three rules integrate together and form what I like to call the BLT method.
Like in any sport, success starts with a good balance and base. The same goes for your finances. In terms of your finances, your financial blueprint serves as the balanced base of your wealth. Without understanding your goals and how your investments, taxes, estate, cash flow, and insurance tie together, your financial pursuits may fall out of balance.
Through our True Wealth process, our initial focus is understanding our clients’ short and long-term needs, goals, and circumstances. Only when we understand their entire financial picture can we begin making recommendations or taking actionable steps.
In sports, once you have a solid base, you can then use leverage. Just like for your finances, leverage comes from having a team that works together in collaboration. While a sports team has teammates, your team comes in the form of a financial advisor, CPA, attorney, and insurance professional, all working together in collaboration to help you pursue your goals.
For many, this is easier than it sounds. It’s important to work with professionals who are willing and able to collaborate with your other trusted advisors. If everyone is working independently without consulting with one another, you may end up duplicating efforts or missing out on important opportunities.
Similar to sports, once you have a base, and have used leverage, then you need to have the right timing. Proper timing is equally as important in your finances. You can have a wonderful plan and great team, yet retire in January of 2018 and purchase real estate property in 2016.
With something as ever-changing and as volatile as finances and investments, timing can make a significant difference in your results. While no one can predict what the market will do next, having a well-rounded and solid financial strategy can help you weather all seasons of the market.
The same keys to success in any athletic endeavor hold true for your finances. Just like in sports, having a coach who can offer guidance and advice is helpful for feeling more confident and having a stronger understanding of your next steps to take.
My passion is to uncover what is truly important to you and help you pursue true wealth. As a dedicated partner in your financial journey, I strive to make your financial independence my priority. If you are looking for a partner to implement my rules for pursuing financial success, book an appointment for a complimentary consultation. You can also reach me by phone at (423) 247-8840 or by email at firstname.lastname@example.org.
Scott Ford is CEO, Founder and Wealth Advisor of Cornerstone Wealth Management Group and CEO of GAAM Wealth Advisors, serving entrepreneurs, business owners, executives, and their families. The firm specializes in business liquidity strategies and SBA financing strategies. It is Scott’s mission to help his clients pursue financial freedom and live a balanced and fulfilled life.
Scott is a Wealth Advisor and Registered Financial Consultant (RFC). He was recognized as one of the 20 Rising Stars of Wealth Management by Private Asset Management Magazine in 2008 based upon assets managed of $1 million or more per client. Since 2005, Scott has been an active financial technical analyst.
Clients often choose to work with Scott because of his experience with the challenges business owners and executives face as well as his firm’s disciplined process. His personal and proactive approach is designed to bring clarity and simplicity to the complex issues of financial management. For over 20 years, he has been helping his clients define and pursue their own unique version of “True Wealth.”
Scott is the author of three books: Financial Jiu-Jitsu: A Fighter’s Guide to Conquering Your Finances, The Widow’s Wealth Map: Six Steps to Beginning Again, and the New York Times Bestseller, The Sustainable Edge: Fifteen Minutes a Week to a Richer Entrepreneurial Life.
He and his wife, Angie, reside in Hedgesville, WV and have two wonderful children as well as a dog and a cat. In addition to spending time with his family, Scott is a voracious reader and enjoys woodworking, Brazilian Jiu-Jitsu, golf, hunting, permaculture and beekeeping; basically anything outdoors.