Building Wealth: A Financial Planner's Perspective

"What you save is a choice" Connect With Our SponsorsGreyFinch - https://greyfinch.com/jillallen/MyOrthoVA - https://www.myorthova.com/get-startedSmileSuite - http://getsmilesuite.com/ RSVP for the Provide AAO  Happy Hour - https://docs.google.com/forms/d/e/1FAIpQLSc5SXhZalSUVDY421Af7TcmOBiiECec4OIOIjRjyQJAX1qW8Q/viewform Summary In this conversation, Kyle J Christensen discusses his journey in financial planning, emphasizing a principles-based approach tailored for new doctors and business owners. He highlights the industry's focus on wealth management after assets are created, contrasting it with his philosophy of helping clients build wealth from the ground up. Key principles include paying oneself first and understanding the difference between savings and investments. The discussion also addresses the challenges new business owners face, including managing expenses and planning for unexpected events. In this conversation, Kyle J Christensen discusses the importance of preparing for unexpected life events and the necessity of having a solid financial foundation. He emphasizes the principle of maximum protection in financial planning, highlighting the need for comprehensive insurance coverage and the importance of understanding the details of policies. Kyle also addresses the challenges young professionals face in managing their finances and the agendas of financial institutions, urging listeners to take control of their financial futures. Connect With Our Guest Unique Advantage- https://uniqueadvantage.biz/ Takeaways Principles-based financial planning focuses on building wealth.Many financial planners only work with wealthy clients.The financial industry often helps after wealth is created.Paying yourself first is crucial for financial success.Profits should not be an afterthought in business.Expenses can consume all profits if unchecked.What you save is a conscious choice.Savings and investments serve different purposes.Planning for unexpected events is essential for business owners. 100% of us will experience unexpected life events.Protection has nothing to do with needs.You have the right to know what your maximum is.Most people don't have maximum protection.The devil's in the details with disability insurance.What percentage of your income would you want replaced?You're in a battle for control and use of your money.Financial institutions want to separate you from your money.If you don't do the foundation right, you could lose it.Chapters 00:00 Introduction to Financial Planning and Unique Advantage03:05 Understanding the Role of a Financial Planner05:59 Principles-Based Financial Planning for New Doctors08:56 Fundamentals of Financial Planning12:00 Paying Yourself First: Strategies for Success14:59 Navigating Financial Challenges as a New Business Owner17:56 Planning for the Unexpected in Financial Management19:25 Navigating the Unexpected in Life and Business25:32 Understanding Maximum Protection in Financial Planning29:18 Building a Solid Financial Foundation30:09 Final Insights for Young Professionals Are you ready to start a practice of your own? Do you need a fresh set of eyes or some...