Doctors tell me sometimes that they have a solid financial plan for their future. Yet, it doesn’t take long to realize that they forgot the foundational piece to a good financial plan. They have gotten into their car and want to reach their “dream destination” without knowing the GPS coordinates or addresses. Sometimes, we want to get there without even knowing where the car is… which is what the Where’s The Car Dude Episode is all about.
Have you ever spent intentional time figuring out what your ideal day, week, or year might look like? It might surprise you that an abstract concept like life planning is fundamental to creating an accurate financial plan. In fact, if you don’t do some life planning, I’d argue that it is impossible to have a successful financial plan.
What You’ll Learn from Where’s The Car, Dude?
This show is all about connecting an abstract concept (creating your ideal life through life planning) to a very concrete task (creating a great financial plan). Most people wander aimlessly when it comes to creating a financial plan, here are some things you can expect to learn in order to find your financial way:
- You may think that you know what you want in life, but we will show you that’s not true.
- How to prevent entitlement in your kids when paying for college, and if you should pay for their education at all!
- Formalized processes and tools to help you design your ideal life including the airport test, the ideal day/week/year test, and the 3 Kinder Questions.
- How to connect that ideal life plan to concrete financial tasks.
- Multiple concrete exercises to create your life plan.
Resources from the Where’s The Car Dude Episode:
Check out the resources mentioned in this episode:
- Designing an Intentional Life Plan with the 3 Kinder Questions
- The Hell Yes Policy
- Free Life Planning Tools from Life Planning for You
- Pat Flynn’s Book Will It Fly (where he discusses the Airport Test)
- Information about how to choose the right 529 plan.
- How to teach your kids about money.
This Episode’s Sponsor
This episode’s sponsor is Larry Keller from Physician Financial Services. If you are in the need for life or disability insurance, don’t hesitate to call Larry. Multiple readers and friends have used Larry, and I’ve never heard a single complaint. I’d recommend him to you highly, and without reservation!
You can find Larry at the Physician Financial Services website; call his cell phone at (516) 677-6211. Or, you can reach him by email at Lkeller@physicianfinancialservices.com.
Listener Question of the Week:
Today’s listener question is from an anonymous source, but it’s a great question:
“Should I pay for my children’s education completely if I could? Or is there a middle way of supporting them in a way that would not financially cripple them but does not make them entitled either.”
Each episode, we are going to start including listener questions as they are provided to us. So, if you have a specific question you’d like answered on the podcast reach out to us! Email Jimmy@moneymeetsmedicine.com or firstname.lastname@example.org
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