The awesome power of your personal financial plan
A great plan gives you invigorating clarity. It also creates the context for your investment strategy. All seven members of our planning team are Certified Financial Planners™. They all contribute directly or indirectly to your plan.
In this video series, Private Ocean principals Chip Pyfer and Sarah Wotherspoon share lessons they’ve learned helping clients define and realize their dreams.
Discovery: What does money mean to you?
Senior financial advisors Chip Pyfer and Sarah Wotherspoon share the key component to creating an effective financial plan: working with an advisor who understands you and your goals, wishes, and needs. They also discuss why it’s beneficial to you to have a financial plan in place before investing your portfolio. (5 min.)
The future: Do I have enough money?
You may have the financial resources to take a high degree of risk in your portfolio, but how much risk can you handle emotionally? In this chapter, Chip and Sarah discuss the difference between risk capacity and risk perception, and how vital it is to align the two with each client’s unique circumstances to provide the best portfolio for them. (4 min.)
Client story: Balancing economics and emotions
Sarah recounts a story about a client who had the choice of either paying off her mortgages or continuing to pay them down over time to enjoy a low interest rate. While one of those choices was more financially beneficial to the client, the other choice was psychologically superior to her. Watch the video to find out which choice the client ended up making and why. (1 min.)