Building Wealth is About Living Fully Today
Ryan Sullivan, PE
I Craft Personalized Wealth Blueprints for Architects and Engineers | Engineer Turned Financial Planner
Welcome to this week's edition of The Weekly Trail Report, where we share,
1 Story, where real stories of architects and engineers meet tailored financial strategies,
1 Actionable Tip, to provide actionable insights and guide you towards financial success,
1 Financial Term, to demystify key concepts and empower your decisions.
***Update***
I am now on Instagram!
I’m sharing a mix of financial tips and insights, plus a behind-the-scenes look at my "off the beaten path" lifestyle—whether it’s projects on my property or outdoor adventures like skiing and mountain climbing.
If you’re into the outdoors and want some financial strategies to help support that lifestyle, I think you'll enjoy it!?
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My new guide is now out!?
The Wealth Blueprint: The Architect's and Engineer's Guide to Financial Peace, Confidence, and Abundance
The Wealth Blueprint will guide you through three key stages of financial growth:
1) Achieving Financial Peace – Gaining clarity on where you stand financially and addressing the foundation of your financial system.
2) Building Financial Confidence – Aligning your investments, tax strategies, and risk management to create a solid, confident financial future.
3) Experiencing Financial Abundance – Moving beyond stability to create a legacy, generate multiple streams of income, and make an impact that reflects your personal values.
This guide serves as a roadmap, helping you lay the financial foundation that supports not only your business success but also the life of freedom and fulfillment you deserve.
1. Story: Jerry and Carrie Transform Their Wealth into Abundance
When Jerry and Carrie reached their late 40s, they found themselves in a place many successful professionals do. They had worked hard, saved diligently, and invested wisely. Yet, as they began thinking about the future, the excitement of what could be was overshadowed by a sense of uncertainty.
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“We’ve built a good amount of wealth, but it’s hard to shake the feeling that it might not be enough,” Jerry admitted. “We’ve always focused on saving, but now that we’re looking at retirement and beyond, we’re not sure how to actually live the life we’ve imagined.”
Carrie nodded in agreement. “It’s not just about whether we have enough to retire. I want to travel with the family, help our kids get started, and give back to causes we care about. But I’m worried we’ll stretch ourselves too thin.”
Jerry and Carrie’s concerns are common. They had built wealth, but their lack of a clear plan to transition from accumulation to living abundantly left them feeling unprepared. They wanted to move beyond the anxiety of “Is this enough?” to “How can we make an impact with what we’ve built?”
I introduced them to my Wealth Blueprint model, a strategy designed to guide people from financial peace to financial abundance. We began by focusing on the foundation—ensuring their core living expenses would be covered through stable investments and strategic withdrawals. This gave Jerry the peace of mind that their essentials were secure.
Next, we explored how they could make the most of their wealth. We allocated funds for travel, set up a gifting plan to help their children without compromising their financial future, and structured their investments to allow for consistent charitable contributions. Now, they could support causes they cared about without feeling stretched.
With this plan in place, Jerry and Carrie felt a profound sense of relief. “It’s not just about surviving retirement—we’re actually excited to live it fully,” Carrie said with a smile. Jerry added, “I finally feel like we’re in control of our wealth, instead of just managing it.”
Their story is a reminder that financial abundance isn’t about accumulating wealth—it’s about using it to live fully and make a lasting impact on your family and the world around you.
2. Actionable Tip: Plan for Legacy and Impact
Financial abundance isn’t just about securing your future—it’s about thinking beyond yourself and making a lasting impact. Whether it’s funding your children’s education, supporting causes close to your heart, or creating a legacy that lasts beyond your lifetime, planning for impact ensures your wealth aligns with your values.
Start by identifying the areas where you want to make a difference. Then, create a financial plan that includes dedicated funds or investments to support these goals. By taking intentional steps now, you can use your wealth to not only provide for your family but also contribute to something greater.
Planning for your legacy allows you to live a life of purpose while ensuring that your wealth continues to make a meaningful difference long after you’re gone.
3. Financial Term: Donor Advised Fund
A Donor-Advised Fund (DAF) is a giving vehicle that allows individuals to contribute to a charitable account, receive an immediate tax deduction, and recommend grants to charities over time. It’s a flexible and effective way to support the causes you care about, while also offering potential tax advantages.
Here’s how it works: You donate cash, stocks, or other assets to a DAF, and you receive a tax deduction in the year the donation is made. The funds can then be invested, allowing them to grow tax-free. You can recommend grants to your chosen charities whenever you’re ready, making it an ideal solution for those who want to give back, but on their own timeline.
A DAF helps create a lasting impact by aligning your charitable giving with your long-term financial goals, allowing you to give thoughtfully and strategically.
Happy Trails,
Ryan
Disclaimer: We employ fictional characters to illustrate financial concepts faced by individuals in the architecture and engineering industry. Any resemblance to real persons, living or dead, is coincidental. While the stories are inspired by our experiences, the specific details, circumstances, and outcomes mentioned are entirely fictional and created for educational purposes only. Real client information is strictly confidential and never disclosed without explicit consent. Our aim is to provide relatable examples for educational purposes, respecting the privacy and confidentiality of our clients. This information is presented for educational purposes only and is not to be considered financial, tax, legal, or investment advice.