My Daughter Made Me a Better Financial Planner
Tyler Shamblin, CFP?
Wealth Advisor | I help sales pros & entrepreneurs retire ASAP, and STAY retired.
When I was 22, I came into the “financial sales” side of the business.
The attraction? “You have no ceiling on earning potential.”
(A very real floor that I’ve hit many times, though).
And like most 22-year-olds in the situation of earning whatever they want my goals looked like:
The problem is… I didn’t actually WANT these things.
I hoped that money and income would fall in my lap to live that, but…
…those goals were externally motivated.
I wanted those things because other people wanted those things.
When I came to that realization, I kept saving, kept budgeting, kept paying my car off faster, but I had no reason why.
That all changed when my Brown Eyed Girl, my Sweet Child O’ Mine, came into the picture.
It also led me to my current firm with a much different focus on serving clients than how I started.
?
Big Life Change = Clear Priorities
When our sweet Ivy came into the world, I experienced probably every parents’ feelings of “oh my gosh, how do I keep this thing alive” mixed with “this child will be the first female president (if we haven’t gotten there by 2058).”
Then I noticed my financial priorities started becoming clear.
My new list:
It’s not that I don’t have ambitions for more than that.
It’s that I’m starting my financial planning with being able to do those things well.
Once we hit those goals, then we move on the other “extra” stuff.
?
Clear Priorities = Clear Business Goals
Especially if you’re in sales or you own a business, you have control over your income.
Well, maybe not control… but you can influence your bank account.
A clearer vision helped me set clear revenue targets—now I know what I need to do in my business to achieve “Financial Plan, Phase One.”
When you know your personal income needs based on your desired lifestyle, you have freedom.
This freedom means you now know what income pays the bills, what income helps you hit your goals, and what income will help you go above and beyond.
?
Clear Business Goals = Winning Each Day
Because you now know what income you need to hit your financial goals, you can trace that back to annual -> quarterly -> monthly -> weekly business goals.
You can trace it all back to baby steps to take daily to move toward that lifestyle, that financial freedom you’ve been seeking.
Especially if you’re in sales or own a business, you can also control the pace that you work toward those goals.
Things can begin to happen on your timeline, which means financial independence can be achieved before the unwritten cultural norm of age 65.
?
What to Do Next
I help sales professionals and business owners plan their finances. More specifically, I help them understand how their business goals directly align with their financial goals.
In our first few conversations, we don’t talk about expense ratios and asset allocations as much as we talk about your financial priorities.
Clients of mine then get clear, written plans to achieve their goals.
And when things don’t happen in a straight line, we adjust the plan together, so the long-term vision stays intact, even though the short-term steps may change.
If that sounds like the partnership that’s worth exploring, here’s what you can do: