Do You Have a Financial Team?

by admin on 12/10/2012


How secure are you in your financial life?  Do you have advisers to help you make good financial decisions?  Or are you trying to navigate the waters of money madness all on your own?
Guest expert Kelsa Dickey shares her expertise as a financial coach in her article, "Draft Your Fantasy Financial Team". 
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Draft Your Fantasy Financial Team by Kelsa Dickey


31 million – The number of people in the US and Canada participating in fantasy sports.

9hours – Amount of time the average participant spends managing a fantasy football team each week during the season.

10 minutes – Amount of time the average participant spends managing a fantasy football team each day at work during the season.

(Source: Challenge, Gray & Christmas Study)

How Much Time do you spend Drafting your Fantasy FINANCIAL Team?


Most of us are experts at our craft. When we're extremely proficient in one area, we may be "not so good" in another. I'm the first to tell you that I'll stick with numbers all day but when it comes to words, I fall short. I have some amazing people in my corner who help me translate my financial knowledge into eloquent words – a freelance writer, a proofreader, and a graphic designer. Do you know your own strengths and weaknesses? Because I know mine, I'm totally comfortable asking for help from other experts!

Money can be a complicated topic and I cannot stress how crucial it is for you to have people behind you with whom you can communicate freely and trust. And it's perfectly OK to be picky when it comes to these people. With the right team of professionals, you will be ready to tackle all that life throws at you! You will go through life more confidently and with a lot less stress!


Fantasy Financial Team


With all these professionals, ask yourself the following:

1. Do I feel comfortable discussing my hopes and dreams with them (no matter how   crazy these may seem)?

2. Do I feel comfortable asking questions (even if they seem stupid)?

3. When they explain things, do their answers make sense to me?

4. In order to motivate me to act, do they appeal to my emotions by using scare tactics or a promise for a better future (or do they use facts and evidence)?

5. Do they try to tell me that "things are too complicated for me to understand"? (If so, run because it's their job to help you understand.)

6. Can we relate to each other?

7. Will they be here for me in 5, 10, or 15+ years?


Are You Missing Any of These Players?


1. Financial Coach – Life is a roller-coaster ride and it's helpful to have someone who isn't emotionally invested with your money to help you navigate the ups and downs of these decisions. As the name implies, this person is your coach with a focus on the fundamentals and your overall well-being.

2. Financial Adviser  – Whereas a Financial Coach holds you accountable with what you want to do today, your Financial Adviser helps you plan for the life you want to live later … but that doesn't mean you should wait until later! They have a "big picture" approach to you and your money. Think of this professional as your Quarterback – you don't wait until late in the season to choose your QB right?

3. Accountant – It's unbelievable to me just how many of life's decisions are impacted by taxes. Keeping with the football team analogy, your CPA is the Center position on the offensive line, whose responsibility is to block as many attacks by the defense as possible.They block taxes!

My financial adviser and my accountant are the two professionals I call most often. I have an incredible relationship with them and I hope you feel the same way!

4. Mortgage Broker

5. Realtor

Think of these individuals as players on your special teams. They are crucial in clutch plays. You may not call on them every quarter but when you do, you need them to perform perfectly.

6. Attorney – Preferably one who can help with any number of issues that may arise – estate planning, real estate, etc, but at least you should have someone who can help you with your will or trust. Think of your attorney as the manager of the team. They face the media for you, i.e. make sure you've dotted your Is and crossed your Ts.

7. Insurance Agent – Does your agent know how you live your life so you can be sure you're protected accordingly? Do you feel protected ? Does your insurance get reviewed/discussed annually? Your insurance professional acts as the Safety – you hope it doesn't come down to him, but if it does, he's got an important job to do and he's your last hope. Needing your insurance means something bad already happened, you don't need the hassle of dealing with a bad insurance company on top of it.

8. Career Coach – In 2008, the typical American's tenure with his or her current employer was 4.1 years (Bureau of Labor Statistics, 2008). Unfortunately, you'll likely experience a job change or loss at some point and having someone help you through this stressful time is essential. Wouldn't it be helpful to have a career coach walk you through how to ask for a raise or throw for a promotion? If you haven't updated your resume in 5 years, don't attempt it alone! This expert is a professional scout, except they work for you!

9. Doctor, Personal Trainer and/or Health Coach – Being unhealthy is really expensive so find someone who motivates you to live a healthy lifestyle. Think of these individuals as your Defense. As we all know, "Defense wins games."

10. Personal Banker – If you walk into a big bank, you may see someone different every time. Check out your local bank or a credit union and you will find a different customer service model. This person is your administrative back office. They handle things behind the scenes and the less you see them, the better the job they're doing!

Your challenge is to draft your professional team before football season ends! Remember to interview them and allow yourself to be picky!

Kelsa Dickey is a personal, Financial Coach and owner of Fiscal Fitness.  



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To your remarkable life,
Lisa Kneller



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