Begin with the end in mind
Most people approach borrowing and debt very transactionally, which is not their fault because they've never been trained how to view debt as one part of a comprehensive wealth management plan.
Think of a well-constructed plan like a wheel with six spokes: 1) income, 2) assets, 3) liabilities (debt), 4) taxes, 5) legal, and 6) risk (insurance). If one spoke is longer or shorter than the others, the wheel will be out-of-round and progress will be slower and more difficult than it needs to be.
When financial planners, Realtors, home owners or buyers contact me about how to get a reverse mortgage, I encourage them to step back, take a look at the bigger picture, and begin with the end in mind. Where does the client want to be in 3, or 5, or 10 years? How does each spoke affect the others?
I find most people view each spoke as a transaction, and they have a person who helps them with that transaction. What they lack is someone who helps them see a bigger picture. That's why we developed a unique 6-step process to help people navigate the three stages (awareness, consideration, decision) they should go through.
Awareness / Education - Stage 1
This is about you expressing symptoms of a problem or opportunity; often it’s about finances, homes, or other opportunities. At this stage, your focus is on doing educational research to more clearly understand, frame, and give a name to your issue(s). The awareness stage has nothing to do with choosing a particular type of loan, investment, broker, etc. – that comes later.
We developed the Financial Clarity Questionnaire™ to help you ask and think through big and small questions. Asking the right questions is the foundation of peace of mind. The second step is what I call the Optimized Life Conversation™. This is where we talk through your questionnaire answers. Confidence is a by-product of being in relationship with competent people.
Consideration / Guidance - Stage 2
Once you’re clear on your issues or opportunities, you've given a name to them, stage 2 is about understanding all of the available approaches and methods to solve your problem or capitalize on your opportunities. The Financial Matrix Review™ is where we explore what solutions you’re eligible for and which are appropriate.
The Loan Evaluator™ step is where we get into the mechanics of different options – how they work, what they cost, how they impact your cash flow and net worth.
Decision / Connection - Stage 3
Once you’re clear on the issues or opportunities and you’ve considered different options, this third stage is where you decide on a strategy and the partners you'll need to help you achieve the outcome you want.
We are comfortable telling you if and how we can be part of the solution. We're happy to refer other professionals for things we can't do. And, we're upfront and clear about things we can't do. In our space, the Smooth Loan Process™ is what we do and how we do it so you have a great experience.
The Smart Borrower Advantage™ is about an on-going relationship with you so you’re connected to someone who cares about you achieving your financial and personal goals.
Think of me and my team as a guide helping you through a financial/retirement forest. While we may not transact any business, we promise you'll have more clarity and confidence for having explored your options with our guidance.
So often we have more options than we realize if we’ll temporarily suspend our disbelief. When you're working with people who have integrity, the process is worth the effort.
We suggest you go through the Financial Clarity Questionnaire™ with those you trust to help you make important financial decisions. Click the book or button below for your complimentary copy.
