Every Child is Unique, YOUR Financial Plan Should Be Too!

Every Child is Unique, YOUR Financial Plan Should Be Too!

October 11, 2020



Growing, Growing, Gone

This is my crew, the three small humans that I am so incredibly blessed to have call me "Mom."  Imagine a world where each parent followed the exact same specified set of rules to raise each and every child.  

*Each child will be required to sleep from 8pm to 6:30am

*Each child will eat 3oz of protein, a vegetable, a fruit and a grain at each meal.

*Each child will get one hour of exercise and no more than 30 minutes of media time each day.

*Each child will be required to get straight A's.

*Each child should be exactly the same height and weight to meet pediatric guidelines.

*Each parent shall follow a specific set of rules, expectations and implement the same reward and consequence sequence.


If you’re a parent, you know the above or any other set of “rules” or expectations that we would be expected to impose on each of our individual children would likely be a disaster.  Why?  They are individuals, they have their own personalities, they have their own motivators, they have unique emotional needs, they will have different goals in life.

Here’s my crew…an 8 year old, a 6 year old and a 4 year old.  One is creative and thrives on self-expression, one is kind and tender and loves all things babies and animals, and one is spunky and beats to his own drum.  All three boys.  All three have the same parents and potential gene pool.  All three look VERY similar.  All three are being raised in the same environments. Yet, all three have different personalities and needs.  All three are motivated to do the same exact task, but different reward systems.  All three need love and affection, but in varying amounts and at different times.

When building financial plans for my clients, I consider each set of clients as unique as my children or yours (not that they are children, just an analogy).  Each client has his/her own set of needs, motivators and expectations.  Some clients want frequent communication, assistance implementing each action step and monthly meetings.  Some clients are happy to come in once a year and have a hands off approach, so long as they feel the financial plan is keeping them on track.

When we raise children or build financial plans, we have to think about the people behind the action.  Sometimes life does not go according to plan.  Sometimes we have a setback at school or perhaps a lost job/income.  Sometimes we ace the spelling test, or get a big promotion that gives more flexibility to our discretionary spending. 

What makes a financial plan work, much like raising children effectively, is having the ability to be adaptable and to be in frequent contact.  Imagine trying to parent your children 1x a year and expecting that the entire year, there will be no additional guidance needed?  That’s a lot like saying, “Ok, let’s build your financial plan in January each year, you go carry it out and let me know how you did in December.”  Jobs could change, benefits could change, family dynamics could change; so many things can happen over the course of a year.  Building a financial plan can be a very worth while tool, but so can the accountability and adaptability factor of meeting with your advisor regularly.

Give me a call to discuss the process for beginning a financial planning relationship.  605-306-3248