The Limitations of Financial Planning and Forecasting

by | May 20, 2022 | 0 Comment

limitations of financial planning and forecasting

The numbers don’t lie, or so the saying goes. While this is the simplest turn of phrase, it’s not exactly the whole truth. It’s not necessarily the numbers that are the issue, but the interpretation and application of the numbers. This just so happens to be one of the primary limitations of financial planning and forecasting, in general.  Financial Planning Issues to Consider The thing about the typical financial planning industry is that projections and math are used to show people idealistic scenarios without all the proper contexts. For example,

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Should You Take Social Security Early and Invest It?

by | May 6, 2022 | Comments Off on Should You Take Social Security Early and Invest It?

Senior couple looking at financial statements. Should you take social security early and invest it?

Should you take social security early and invest it? This question can come up often when helping clients secure their financial future. However, the answer is a resounding no in most cases. Taking an early social security benefit only works to remove dollars from your client’s future assets, when the future assets are less certain.  Social Security benefits can supplement income, yet should not be considered the bread and butter. In general, we recommend delaying benefits for the optimal impact and finding other ways to supplement income. This includes working

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Truth Quotes, Part 5

by | Apr 22, 2022 | 0 Comment

man thinking with money signs around head. Truth quotes, Todd Langford

The time has come for another round-up of quotes from Todd Langford, and some others, that we’ve gathered during our last Truth Training and TC 360 in 60 sessions. We hope these quotes inspire you on your journey to seek the Truth, and help clients do the same with their finances. (Quotes are from Todd Langford unless otherwise noted.) Quotes on Financial Math “If the numbers are right, they don’t matter. If the numbers are wrong, they don’t matter.” “The point is, calculators can calculate numbers, but they cannot calculate

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5 Cognitive Biases in Behavioral Finance and Entrepreneurship

by | Apr 8, 2022 | 0 Comment

Silhouette of person's head made out of gears, which are slowly moving away/toward head. Depiction of cognitive biases in behavioral finance, etc.

If you’re a financial advisor, you are also likely an entrepreneur on some level. Entrepreneurs are innovators, problem solvers, and highly motivated business people: these are just a few of the characteristics that make an entrepreneur stand out. Often, entrepreneurs are driven to stay at the cutting edge of their industry, through reading or listening to books and podcasts, or by attending summits and events. Yet in this pursuit of knowledge and growth, we can often get in our own way. That is, the cognitive biases in behavioral finance or

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6 Ways to Prepare for Truth Training in Houston

by | Mar 4, 2022 | 0 Comment

keys to success for truth training

Truth Training can be an incredible time to learn the Calculators directly from Todd, as well as benefit from a room of like-minded people. It’s for this reason that we decided to include an annual Truth Training ticket with your TC 360 membership: because it gives you every opportunity to get in the room and make major progress.  We also recognize that Truth Training can still take some time and preparation, even WITH a ticket. So we want to make that prep work as streamlined as possible. That way, on

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