The Purpose of A Plan(c) 2023

I had this lady referred to me a number of years ago. When we sat down in the conference room she pulled out of a box multiple contracts she had purchased over the years: annuities, life insurance policies and different brokerage statements for her mutual fund and stock accounts.

The first thing I realized, this lady was an easy target for what I call QPS (quick product sales); and she had bought them. The sad reality, too, she was paying much more in fees and commissions than was necessary.

Without a well laid out financial plan the lady had no idea whatsoever about the importance of consolidating her investment allocations and still having a well-rounded diversified portfolio.
With a financial plan you want to know what steps to take. How do I plan my portfolio? How much risk is in each investment? What are the historical performances? May I see the solvency of the company? How is the investment or insurance company rated? What are my costs and fees going to be?

I remember hearing Warren Buffet talking about the stocks he had invested in for years. I myself assumed he had a multitude of stocks in hundreds of companies. The real truth, he has invested in a relative small number of companies in his portfolio; and stayed with a number of them for years!

Whether it is Warren Buffet, or any other billionaire you can be sure they have a purposeful plan to reach their investment goals.
A long time ago an editor warned me, “Ronnie, you need an outline to go by if you’re going to be an efficient writer.”

Think about this literary process. An idea turns into heart-throbbing theme. An outline is written. An introduction follows. The chapters are developed. And the motif is carried out through the pages of the book. A beginning and ending is written and sometimes, an epilogue. And you have a book, a complete planned manuscript for your readers.

The same is true in financial planning. You and I need an outline, a consistent plan to go by to have an efficient, growing portfolio. A financial and business plan is a well organized strategy to take advantage of the best diversified investments and opportunities possible.

This is so true especially if you want to be a savvy, smart investor and achieve your goals and objectives for your retirement.

As an advisor It’s easy to sell products to the public. But it’s a totally different process to help clients have a clear and well-defined financial plan that works.

I can advise you, the client, best by educating you on the Pros and Cons of investments and insurance products. Then you are better equipped to inform me on the direction you want to follow.
The Latin word for plan is ‘planum’ meaning level ground. People who buy products from different sales people who persuade them to do so, often find themselves on ‘rocky ground.’
A purposeful financial plan is to give you financial footing—level ground. It is a careful procedure with a team of experienced advisors and steady, reliable investments to help you reach your goals and dreams.

No builder is going to build a building without a blueprint. Otherwise the construction would have no guidelines to go by. That’s just common sense. How much more is your financial building in need of a blueprint? We’re talking about those dollars you’ve worked for your entire life.

No plan. Your house is in the sand. Remember what the Master taught?

Therefore whoever hears these sayings of mine, and does them, I will compare him to a wise person, who built a house upon a rock:

And the rain came, and the floods came, and the winds blew, and beat upon the house; and it did not fall, for it was founded upon a rock.

And every one that hears these sayings of mine, and does not do them, shall be likened unto a foolish individual, who built a house upon the sand.
And the rain descended, and the floods came, and the winds blew, and beat upon this house; and it fell: and great was the fall of the house.

With a carefully crafted financial plan you are much better prepared for the horrific economic floods that are possible. No plan, I reiterate, you’re in sand. With a plan you can lean upon the basic principles of your conservative, moderate and aggressive positions in your portfolio.

I’m convinced after many years as a financial advisor that clients who are sincere about their retirement and their financial future want a purposeful plan to achieve their goals.
I keep the financial plan simple. I make sure it is your plan, not mine. I bring the best team of advisors I know to help you ask the right questions to make the best choices for you and your family’s financial future.

Trust me. You will blink your eyes and suddenly your retirement years will come upon you. Tomorrow has a way of coming way too fast. The sooner you plan for tomorrow the sooner your financial future will be more secured.

Mark Twain reminded us, “The secret of getting ahead, is getting started.”

You can begin a plan today. Take the first step. You begin your financial plan in your heart before you contact anyone. The plan will never get off the ground until you first decide to have a financial plan.

There is a definitive reason for calling it a ‘master plan.’ A plan that is fragmented, incomplete from the beginning can become more expensive than not even having a financial plan.
Along the beach where we walk each day we occasionally we come across pieces of a sand dollar. They have that novel portion of the sand dollar’s unique design. But it’s not a round, rare find of the exquisite sand dollar coughed up from the sea; definitely not valuable to the beachcomber.

A financial master plan is the real thing. You might say, a true sand dollar. Not a piece of the pie—the whole thing. Complete!
….and this plan can be done, You can do it. You can have your own personal and well-tapered plan just for you, your family, your business, or your practice.

It will cost you time, money, energy, deep thoughts and honest evaluations, but in the end, you win.
Remember, ‘By the inch it’s a cinch, but by the yard, it’s hard.”
When should you get started with your plan? Yesterday.

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Joe Hopkins

Joe has 25+ years as a Certified Public Accountant licensed in the State of Texas and solving IRS problems. Current member with the American Institute of Certified Public Accountants (AICPA), Texas Society of CPA’s (TSCPA), National Society of Accountants (NSA), Bachelor’s degree in accounting (BBA), Master’s degree in Business Administration (MBA) at Texas A&M Corpus Christi. Experience in a variety of industries as Controller, CFO and tax resolution issues for both business and personal tax cases. 

The old adage, “No risks, no gain” says it all. The