Why You Do Not Need A Financial Plan – Jerry Fetta
You don’t need a financial plan. That’s the bottom line. Most of us believe we do. It’s like someone saying they don’t need to eat healthy or workout. We all know we need it, but the reality is most of us don’t do it. If it was such a benefit, why isn’t everyone doing it? And for those that are, why aren’t they all wealthy? I want to break down why you DON’T need a “financial plan”.
1. You don’t know what a financial plan really is. Most of us will admit we need a financial plan, yet we don’t have a real concept of what that means. Immediately we think of budgeting and saving. Maybe we consider that is means we know our assets, liabilities, and net worth. Plan literally means “a scheme or method of acting, doing, proceeding, making.” It was actually a term originally developed in battle. I call it a battle plan. A financial plan is not a historical documentary. It is a future intention put on paper. A battle is not won by looking at how many soldiers were lost or how big the army currently is. A battle is won by implementing a strategy and taking action. You don’t need a “financial plan” that looks at old, dead numbers and the status quo. You need a formula that maps out what actions you can take to create your future.
2. A financial plan often costs $500-$2000. That’s right! Go to your local financial advisor and tell him you want to financial plan. You will pay money up front before you even know if the plan will help you or not. And it won’t be future oriented it will be current and past oriented, which we just discussed in the previous paragraph. And if you decide the plan makes sense, it will often cost more money to start implementing it. Not to mention, the fact that you have no idea if the person you are taking advice from is actually wealthy. They just have a piece of paper they bought from the government to make them look smarter than you. Do not spend money for a plan and do not work with someone who isn’t wealthier than you are. Competence is measured by results alone.
3. Financial plans miss the most important component of your finances! To create wealth you must have income. Gross income is the most important part of your financial plan, yet most financial plans don’t even address it. They’ll tell you how much income you’re making, but honestly a 6th grader with a calculator can do that. You need to map out your income goals and determine the specific actions that must be taken to increase your income today.
You don’t need a financial plan, because you need a Wealth Creation Formula instead. A Wealth Creation Formula is an operating method for your finances. It is like a financial GPS. It focuses on helping you make money, keep money, and multiply money. I can help you make more money in the next 90 days. Our average client sees a 30% increase in income the 1st 90 days on our program. Click here to increase your income now.
Jerry Fetta is a husband, son of Yahweh, Entrepreneur and owner of 5 privately held businesses. Jerry lives in Alaska with his wife and 2 dogs. His no-nonsense approach to business, finances, and life speaks truth and provides clarity to his clients and followers. His personal mission in life is to empower millions of leaders to own their God-given, ultimate potential