In The News: The Bottom LineDan Bowser, ChFC, EA THE BOTTOM LINE How do you feel about money? Specifically, how do you
feel about your money? Does your money enhance your life? Or does
it rule your life? Do you feel good about your money habits? Or are
you a member of that large group that tries not to think about such
things? Not many will argue with the premise that most people
can benefit from professional financial planning. Yet few seek professional
guidance. Fewer yet actually follow the advice they seek out. This
is a continual source of frustration for planners. Paul Lemon, a local CPA and certified financial planner
(CFP), saw more than his share of situations where people recognized
their financial problems, agreed on the solutions, and yet were unable
to follow through on the agreed upon solution. Paul sought a way to
help clients actually achieve their financial goals. He sold his CPA
tax practice and became a full-time fee-only financial planner. He
sought to understand the causes of “financial disease”
and worked to develop a “cure.” The result is a comprehensive and practical guide to
creating your own financial plan titled “Ten Weeks to Financial
Awakening” (Ten Weeks). The program consists of 726 pages plus
15 hours of CD audio and video instruction. This is not a standard
cookie cutter approach to financial planning. Paul recognizes the
problem is not money. The problem is people’s thoughts about
money. No, that’s not correct. The problem is people’s
thoughts about themselves. Their problems with money are only a reflection
of their “self-think.” My personal experience in the personal financial business
led me to conclude that good financial habits led to personal happiness
and satisfaction. After reading Paul’s guidebook, I’ve
come to believe it is the other way around. People who are truly self-confident
and happy develop good money habits. What does that say to those who
are not currently full of self-esteem and happiness? Fortunately,
those important attributes can be learned or acquired. Money can move
from being an adversary to serving as an ally. And it can be done
in ten weeks. “Ten Weeks” has all the standard financial
planning tools such as balance sheets, income statements and cash
flow charts. Fortunately, it has more. It has practical suggestions
presented in convincing and doable ways. It digs into the inner problems
that manifest in money problems. It is a 12-step program for money
problem addicts. Like every other 12-step program, it has suggestions
that readers will not want to hear. They will even disagree with the
insinuation they have a personal problem. That’s all right.
They can set the guide aside until their financial pain increases
to the point where they will do whatever it takes to cure their disease. Be forewarned. This program is not easy. It requires
a desire to change and a willingness to commit to following the program
for ten weeks. As a friend of mine likes to say, “If you don’t
like the results, we’ll refund your misery.” What does a program like this cost? Something with that
many pages and CDs must be pretty expensive. Not so. Just $79 buys
the complete guide. You may need some additional tools such as file
folders and a Quicken program. Most folks will spend less than $200
if they have none of the additional tools. The total cost is less
than the fee for two hours with a financial planner. And you can do
it yourself. Let me be quick to say that a professional planner can
be invaluable for many situations. However, most people will be better
served if they get their mind and affairs organized before they approach
the planner. The planning results will then be more effective and
efficient. You can learn more by going to www.tenweeks.com.
Dan Bowser is president of Value Insights, Inc. of Durango and Tempe, Arizona. Reach him at Bowser@BusinessValueInsights.com.
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