BY DAVID MORRISON
PROSPERION FINANCIAL ADVISERS
“A man is rich in proportion to the number of things which he can afford to let alone.” ~ Henry David Thoreau
Each of us is a “one and only,” unique in everything we say, decide, and do. And we want to make the most of this life – words, habits, adventure, faith, family, and finances. Maximizing your financial life begins with your values, knowing who you are, and deciding whether or not you need (and want) help.
Most recently, our son and daughter-in-law bought their first home. As we were talking on the phone, they were painting the house together before they moved in. I told them that Kay and I have learned a valuable insight to our long-lived marriage – we don’t paint together!
Some of us are successful collaborators – people who work well together to achieve a common goal. Some of us are rugged-individualists, do-it-yourselfers who, despite the fact that we could pay someone to complete a task; we prefer to build, modify, and repair without the aid of an expert or trained professional. Some of us are delegators – we choose to enlist the help and support of another person or group to help us reach our goals.
The Values Based Financial Planning model defines a “Do-It-Yourselfer” as someone who writes his own plans, conducts own research, and sets up own accounts. Designing a strong and effective financial plan is a monumental endeavor. It’s more than just a college degree, online research, a 3-question survey, or an online calculator; it’s more than just setting up and diversifying accounts.
Professionals in the financial planning space study and practice for years – decades in fact. Our success requires hours upon hours of continuing education in finance, accounting, economics, wealth management, conduct and regulation, risk management, insurance, tax planning, retirement and income planning, estate planning, and plan development. We also study daily to keep up with relevant market trends. Successful and trusted advisors seek and absorb what you might not have time to learn.
A collaborator is a person who wants to do it himself, and he also wants a relationship with a professional partner so he’ll have someone to lean on for information, advice, encouragement, and correction. Collaborators choose to study, attend workshops, read industry related literature, and often…purchase financial products they don’t need. Collaborators beware…when you’re half in, half out, you’re not…all in. How does the percentage that’s “out” impact your trajectory?
The Morrison team works exclusively with delegators.
Delegators invest in a trusted professional so they can do all the things they can’t pay someone else to do: exercise, attend kids’ important events, spend time in community, vacation, grow personally, improve professionally, enjoy retirement, volunteer, and/or cook. The delegators’ mantra “Why would I do anything for myself that I could pay someone else to do?” And results come from doing, not knowing. We do great work for our clients.
Are you a Do-It-Yourselfer, Collaborator, or Delegator?
Let’s chat. Call or email to schedule time to connect and complete your Financial Road Map.
David Morrison is a financial advisor and partner at Prosperion Financial Advisors in the Denver Tech Center. Securities and Advisory Services offered through LPL Financial, a Registered Investment Advisor. Member FINRA/SIPC.
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