Financial complexity can sabotage your ability to protect and provide for your family. But what exactly is Financial Complexity? And how do you know if you have it?
Everything we do as parents falls into one of two categories:
Protecting your family includes keeping little fingers off of hot stoves… buying the safest, most reliable car seat… and getting enough life insurance.
Providing for your family includes putting food on the table… buying a house in the best school district…. and funding a college education.
The more important the task is, the more complicated it is to do right.
Keeping fingers off stoves is straightforward.
Buying the safest car seat requires some research.
Getting enough life insurance requires advanced financial calculations and a detailed understanding of insurance products.
Putting food on the table is straightforward.
Buying a house in the best school district requires some research.
Funding a college education requires present and future value calculations and a detailed understanding of college savings options.
Financial complexity is the 5000 piece puzzle that is your financial life. (And the longer you take to put it together, the longer your family is at risk.)
That puzzle includes figuring out life insurance and college funding.
But those are just two pieces of the puzzle.
To fully protect your family, you need life insurance, long-term disability insurance, umbrella liability insurance, an estate plan, a joint trust, wills, powers-of-attorney, advanced care directives, and an emergency fund (to name a few).
To fully provide for your family, you need to direct every penny into the right accounts in the right amounts and invested the right way.
That includes 529 Plans, ESPP’s, RSU’s, HSA’s, ISO’s, NQSO’s, deferred comp plans, Traditional 401k’s, Roth 401k’s, Contributory IRA’s, Rollover IRA’s, Roth IRA’s.
Getting any of these wrong can hurt your family.
And while it’s possible to blindly walk through a field of land mines and not step on one, I’d rather just use the map.
The Financial Zen Group is that map.
We’ve done this for a very long time for a whole bunch of families.
There’s only two types of parents in the world:
So the question isn’t “Do you have financial complexity”? You do.
The real question is “Have you put your puzzle together to protect and provide for your family?”
If your puzzle doesn’t look like the front of the box, then you’ve got some work to do.
(A great first step is to schedule your Discovery Call with us.)