May 12, 2020
In this episode of The Confident Wealth Podcast with
Bill Bush and Mike Hackler, Certified Financial Planner who joined
Horizon at the end of the summer of 2019, talk about financial
planning in three-year blocks of time, the key ingredients of a
financial plan, how money is tied to emotions, and ways to take
proper action with your planning.
- 00:51 – Bill Bush introduces Mike Hackler, who shares about his
- 01:39 – What does it take to become a CFP like Mike
- 02:12 – Where do most people go wrong with financial
- 03:08 – Don’t give advice in a vacuum.
- 05:30 – What is the fallacy of making too many random changes
to your financial
- 05:24 – Bill and Mike talk about developing a personal road
- 07:20 – What is the importance of financial planning in
- 08:30 – Clients aren’t all the same and they each need plans
tailored to their
- 10:09 – How does Mike address clients that have gotten outdated
- 12:32 – How does the fear of acting now affect
- 14:15 – Seek out financial advice.
- 11:45 – Watch
3 Key Points:
- The biggest mistake in financial planning is a lack of
- The 3 Essential Elements of a Financial Plan: advice based on
the client’s circumstances, money needs to be in service to a
particular plan, and no two clients are alike.
- The 3 Main Emotions that affect financial decisions are: fear,
greed, and stupidity.
- “We usually start by asking a question to the degree of you
know, if we are sitting here three years from today, looking back
at this meeting, what has to happen over that time for you to be
happy with your progress?” – Mike Hackler.
- “You know that you can make progress if you put in a game plan
today and in three years from now, you can achieve some of those
goals that you set out.” – Mike Hackler.
- “Emotions are tied to money, always, and when they are tied to
money we tend to act irrational. As humans, we tend to leap before
we look.” – Mike Hackler.