I recently had a discussion with someone who asked me how do I do all of these things. For a second, I was thinking what did she mean, but then I realized that all of these ‘things’ I do are easy for me because I do them every day, just like you do your job every day.
Over the years I have gained lots of experience in financial planning with seeing so many different scenarios-not one person’s situation is the same. Also, the CFP(R) curriculum consists of an education piece that really lays out a great framework in the Financial Planning process. When you start with a good framework that has pieces that can be replicated and add real life situations to this framework, it becomes second nature. Just like a nurse giving a shot, I am sure after a few years of giving shots, it becomes second nature.
When you have a good framework and you set up a process around this framework, it is fairly easy to implement. Once you have the framework and process in place, then you are only making small tweaks here and there to improve it for each situation. Even though every scenario is different, it all starts from the same base.
So, I guess the answer to the question is that a good framework to start, a process that is repeatable and years of experience around the subject allows me to easily put together the pieces of each situation.
Financial Journey LLC is a registered investment advisor offering advisory services in the state of Virginia and in other jurisdictions where exempted. Information provided is for educational purposes only and not, in any way, to be considered investment or tax advice.
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