As we approach the notorious second anniversary that we will leave unnamed, I’m reminded of why we continue to follow our SCORE model of financial planning. By investing our time to understand your story and build cash flow models in step two, it helps us to keep clients plans on track in step three: objective and subjective decision making.
As the spring of 2020 began with the canceling of the college basketball tournaments, we called every client. There were clients purchasing real estate, mounting new projects, starting new lines of revenue for their businesses, etc. The thing all of them had in common was the discussions we had early in the planning process regarding their unique cash flow needs.
Planning does not solve for every disruption one can face, and covid was a disruption we didn’t necessarily see coming. However, having a clear planning methodology allows for contingency plans and better decision-making long term. Clients were uncomfortable with the rapid change of markets in March of 2020 just like they were in 2001 and 2008. I’m happy to say that all of our clients stayed on plan.
One of the most heartbreaking parts of serving families, is hearing the personal stories of investors where fear or euphoria-based decision making led to a significant lack of financial independence later. It is far too easy to make reactionary decisions on highly emotional topics. The Grandaddy of all emotional topics is money. Helping investors make better decisions in emotional moments both personal and market-related was my goal when I undertook behavioral finance coursework. In our SCORE paper, we reference the length of time it took the markets to recover from the September 11th attacks so that investors have better long term financial outcomes.
Following our SCORE methodology is key to the financial success of the families we serve. Learn more about our philosophy at www.FiscalHarmony.com
Curious? We’d love to talk.
Orchestrating Fiscal Harmony™,
Kelly Kunst CFP®
Founder
Tip of the Month
January is often the month of the year with the highest divorce filings. If you’ve recently become divorced; don’t forget to work with your credit card companies to remove an unauthorized user.
2021 Five Star Wealth Manager
Once again, I am honored to be named a Five Star Wealth Manager by Texas Monthly. Nearly 4,000 Dallas-Fort Worth wealth managers were considered for the award; ten percent of these candidates were named 2021 Five Star Wealth Managers. Being recognized is always nice, but the real blessing is serving families and helping them on the path to fiscal harmony in their lives.
This announcement also appeared in the September 29th edition Wall Street Journal.
Orchestrating Fiscal Harmony™,
Kelly Kunst CFP®
Founder
2021 Five Star Wealth Manager
Once again, I am honored to be named a Five Star Wealth Manager by Texas Monthly. Nearly 4,000 Dallas-Fort Worth wealth managers were considered for the award; ten percent of these candidates were named 2021 Five Star Wealth Managers. Being recognized is always nice, but the real blessing is serving families and helping them on the path to fiscal harmony in their lives.
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