How important is it to have a map when traveling to a destination? We use maps and our phone’s GPS to get to different destinations. Using maps is a very reliable means of navigation. We also use mental maps to navigate our lives. So for the next few shows, I want to talk about something we are all familiar with…MAPS.
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Podcast Title: The Social Cartographer Series: Diagnosing
Podcast Series: The Maven’s Keys to Financial Contentment
The Maven’s Keys to Financial Contentment is my idea that true financial contentment can be found when an overlap of money and beliefs occur. Many people ask the question of how to be “financially content” and this is a discussion to uncover those answers.
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As we discussed a couple of weeks ago in “Decoding Our Money Messages
“, there are belief systems that essentially act as the software program in our brains that have us carry out certain behaviors or decisions that produce a set of desired or undesired results. For example, you may be that money is something that only the rich have because they take it from others, and therefore you find it hard to ask for money from someone or accept it when given because deep down you feel you are doing something wrong because you don’t see yourself as rich. There are many instances of these mental “maps” we create that guide how we feel and act about certain things. This week, I’ll talk about how my role as a financial planner involves uncovering these “maps”.
So sort of a misnomer is calling this series “CARTOGRAPHY” when I don’t really make the map, my clients do. But my job I feel when they come to me is definitely to help them achieve better results than they are currently getting. So let’s talk about what happens in DIAGNOSIS.
This happens in essentially 2 steps….
DESTINATION DECISIONS —
So just like with a physical map or location, you start with where you want to go from where you are. You decide among the quickest route from several alternatives and pick the one most suitable to you. Unfortunately, financial decisions can often be harder to decide than how to get from point A to B. Especially without a list of PRIORITIES that are important to you. My job is to help you articulate the things that are important to you so that we not find the quickest route, but the most effective for you.
DESTINATION ADJUSTMENTS —
As with just about all travel you have to adapt to roadblocks, traffic, construction, etc. Well, your financial map will be no different. It is important though that we don’t give up because of a delay or a setback. There are countless reasons as to why we may have a setback (e.g. family/life event, job change, etc.), but here is why the plan is in place in the first place. A good plan will build enough margin for adjustments.
Dominique Henderson, CFP® is founder of DJH Capital Management, LLC., a fee-only, registered investment advisory firm specializing in comprehensive financial planning and wealth management.
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