The Game Plan

Putting together a well-constructed financial plan is akin to building a strong and sturdy home.

Thing about the different aspects of a home and how each part of the construction serves a specific purpose. The foundation anchors the home while the walls provide support and structure. Then you have a roof which provides protection for the people living inside. The comparisons could go on for a while, but you can see how a financial plan would be very similar.

On this episode of the Retirement Playbook Podcast, Dale Tondryk will take us through each part of the home and explain what the equivalent would be in your financial plan. We all want to make sure our foundation is strong and stable, our walls are sturdy, the roof doesn’t have any leaks, and the final touches get put on the home.

We’ll run through each of those today to help you understand why treating your finances with attention to detail and careful planning much like you do your home. You wouldn’t cut any corners on your house and you don’t want to do that with your retirement plan either.

Most importantly, make sure you are taking care of each one of these financial pieces with your advisor. Overlooking any of them can cost you headaches later in life and potentially derail your retirement.

Let’s get the show started. Check out the timestamps below to skip around to specific topics.

The X’s & O’s

Check out the timestamps below to skip around to specific topics on the show.

[1:02] – Thoughts on the shutdown and what’s changing.

[4:08] – Let’s talk about home-building.

[5:47] – What if you were building a financial house.

[6:10] – We begin with the foundation. What’s the financial equivalent?

[7:24] – Now let’s put up our walls. That’s an investment plan.

[8:22] – Your roof would be the protection portions of your plan.

[9:35] – The final piece is fine-tuning and personalization, which is estate planning.

[12:00] – Putting all these parts together is why a comprehensive plan is so important.