Do you have a plan to achieve financial freedom? If so, is it realistic and are you on track? If not, how are you going to get there?
In this amazing discussion with my financial advisor, Justin Smith, CFA, CFP, we'll discuss that and much more, including:
- How to determine if/when you need a financial advisor.
- What a fiduciary is and why you need to make sure your financial advisor is one.
- The most important questions to ask a prospective financial advisor to determine if they are the right fit.
- If you should look for an advisor who is “fee only.”
- The red flags to look out for when seeking a financial advisor.
- If it’s possible to make a change if you feel you are not with the right financial advisor.
- How a good financial advisor can help you manage the emotional and behavioral side of investing.
- The importance of sharing a financial vision with your spouse.
- What “first scoop of ice cream dollars” are and why they are so important for couples to define.
- Whether couples should split or share bank and retirement accounts.
- When going to Starbucks every day or going out to nice dinners with the family can be part of a responsible financial plan.
- How to define savings, if there are set rules for spending vs. saving, and how to coordinate them with your personal and retirement goals.
- The 50:30:20 rule for spending post-tax dollars and how to coordinate that with your family’s values.
- Strategies on how to build a financial IQ.
- What Justin feels is the best book to change the way you think about money.
- The value of a balance sheet and how often you should update it.
- The traits that Justin sees most often in people who achieve financial freedom and overall contentment.
LINKS:
-NAPFA Consumer Resources: https://www.napfa.org/financial-planning/consumer-resources
-NAPFA Advisor Checklist: http://s3.napfa.cql-aws.com.s3.amazonaws.com/files/Consumer/AdvisorComparisonToolFinal-fillable.pdf
-9 Questions to Ask a Financial Advisor: https://smithpartnerswealth.com/19-questions-to-ask-your-financial-adviser/
-To learn more about Smith Partners Wealth Management: https://smithpartnerswealth.com/
-The Ortho Coach website: www.TheOrthoCoach.com
What is The DOC Podcast?
The DOC Podcast brings you unique educational content taught by Dr. Mike DeLuke, a Board Certified Orthodontist with over 20 years of clinical and academic experience. Dr. DeLuke built his orthodontic practice from scratch in the early 2000s and grew it into a multimillion-dollar enterprise in less than 10 years. He was able to retire from private practice at the age of 46 years old, and now devotes his energy to teaching his colleagues how to succeed both personally and professionally.
Dr. DeLuke has served as a faculty member at numerous hospitals and orthodontic residency programs around the country, including as the cleft craniofacial orthodontist at Albany Medical Center in New York, and as a clinical professor at The University of Connecticut in the Department of Orthodontics. He is presently an adjunct professor at Nova Southeastern University in the Department of Orthodontics.
The DOC Podcast will bring you in-depth discussions and interviews with industry leaders and experts on a variety of topics including clinical excellence, practice management, finance and wealth creation, health and wellness, taxes and accounting, fitness, and much more!