Clarity amidst chaos

By Kevin Janiec CFP®, MBA

Do you know a couple that somehow finds a way to get their kids on the school bus and home from practice in between corporate meetings and busy social calendars? 

On Instagram, it looks like the couple somehow found time to get down the shore after the Little League Baseball season.  On Pinterest, it looks like they might be planning to renovate their kitchen or add an extra bedroom upstairs.  On LinkedIn, it looks like they got promoted at work and are continuing to build successful careers as Consultants, Engineers, Educators, or Sales Managers.  On Facebook, it appears they’re conquering a challenging stretch of parenting spanning from 3rd grade homework help to high school drama.  Pretty soon, you’ll see them hosting tailgates for their kids’ friends at a big university.  You have to imagine they’re probably making more money, paying more bills, and finding less time than they ever have in their lives.

Do you know this couple?  So do we!  In fact, it sounds like many of the couples that work with us here at New Wealth Project – and even some of the advisors that make up our own team. 

From what we’ve seen, many couples in and around their forties find themselves juggling these conflicting life goals and demands.  While they’re flourishing in their careers and heading in an upwards trajectory, their responsibilities at home and monthly expenses are heading in the same direction. 

They’re often doing things to their home and spending money to provide opportunities for their family.  They’d like to keep saying “yes” to experiences with their friends.  Meanwhile, they’re trying to figure our how to prepare for their children’s higher education expenses and stay on track for their own financial independence in the distant future.  Also, the challenges of working and parenting through a pandemic might have fueled this couple to seek greater work/life balance in their 40s without compromising their work/life balance in their 60s.  Regardless of what they’ve accumulated and what they’re bringing in, they’re understandably unclear where they stand relative to their future vision.  

From what we’ve seen through partnering with these couples, this lack of clarity often leads to either a lack of confidence or too much confidence regarding what might be possible and affordable with their money.  Without knowing where they stand relative to the goals, possibilities, and values that matter the most to them, it also becomes tempting for them to assess their financial standing by comparing themselves to their peers.  

We all know this couple.  We might even be this couple.  The question is, how do we help these couples maximize their potential at New Wealth Project?

First, we help the couple focus and prioritize the values, goals, and possibilities that matter most to them.  We identify opportunities to make progress towards those priorities, and address the concerns that stand in the way through our Personal Mission Builder meeting and subsequent Vision Link Report.

Then, through our Plan Development process, we help these couples determine and implement the appropriate tax-efficient savings strategies, investment mix, and asset protection solutions that make most sense for them. 

And finally, through an Ongoing Relationship, we continue to serve as an objective facilitator for the couple to communicate about their money and future life vision.  As their trusted partner, we leverage resources to revisit where they stand and track where they’re heading.  As their engaged financial coach, we help them maintain proactive accountability with their game plan as their world changes along the way. 

Through our partnership and friendship with these clients, their lives don’t necessarily get less crazy.  These couples still scramble to get the kids on the bus and they still experience the trials and tribulations of Little League Games and High School Dances.  We don’t cut the grass, drive the kids to practice, fold the laundry, or clean the toys scattered across the floor.  We just help these couples lean into the chaos with confidence that they’re taking all the right financial steps to provide for their present and future.  If you know any of these couples looking for that clarity and confidence, encourage them to reach out to us.  We’d love to work with them.

We only wish we started implementing their plan 10 years earlier…but more on that in our next post.

Investment Advice offered through FC Advisory LLC, a registered investment adviser doing business as “New Wealth Project” and as “Financial Coach”.  This content is provided for informational purposes only.  Views and opinions expressed are those of the authors and do not necessarily reflect those of FC Advisory, LLC.  Information provided is not and should not be interpreted as investment, tax, legal, or other professional advice or recommendation by FC Advisory, LLC or the members of our firm.  Always consult the appropriate professional regarding your specific situation before implementing any options presented or inferred.  FC Advisory LLC, All rights reserved.