Back to List

“I’ve Got a Guy”

I talk to a lot of people about their financial situation and nearly everyone “has a guy.” They tell me, “Nick, I’ve got a guy.” Upon further questioning, this guy is a friend from church or an old classmate or… You know what I have never heard? “I’ve got a team.”  My guess is that if you have triple digit millions, you have a team, but the average family only has a guy. We at Gainplan think a team is better than a guy and we are in the process of building a “financial services super team.” To figure out if you have the right people on your financial team, let’s start with some critical questions:

Do you have plan? Almost every business owner can point to a physical plan and let you know where he or she expects to be in a year, three years and five years. Do you have plan for you and your family?

Do you understand all your investments? Do any of them cause you worry or concern? Do you feel like you are on track to where you want to be financially?

Do you know how to best leverage the cash you have saved?

Do you feel like you are paying too much in taxes? Do you know how to find out if you are? When was the last time you had a second opinion on your taxes?

Do you have more than one loan? If so, have you refinanced or renegotiated your interest rates in the last two years? Do you have a plan for paying your loans down? Are all of your loans structured to give you the maximum tax advantage?

Do you have a system to pay yourself first and automatically build a cash reserve of money to invest?

Do all of your investments create cash flow for you? Are you happy with their performance? Have you protected the downside? Do you have a written exit plan for each investment?
Have you updated your asset protection and your estate planning? Are you certain you have the right structure?
Is all of your insurance coverage up to date? Have you reviewed your policies in the last 2 years? Do you have an umbrella policy to possibly reduce cost, increase coverage, and avoid duplicate coverages?

Do you have a sufficient amount of life insurance to protect your greatest asset? Does your disability insurance adequately cover all your real costs in the event of a temporary or more permanent disability?

We are more than happy to help you work through any of these questions and any additional you may have. 

This commentary on this website reflects the personal opinions, viewpoints and analyses of the Gainplan LLC employees providing such comments, and should not be regarded as a description of advisory services provided by Gainplan LLC or performance returns of any Gainplan LLC Investments client. The views reflected in the commentary are subject to change at any time without notice. Nothing on this website constitutes investment advice, performance data or any recommendation that any particular security, portfolio of securities, transaction or investment strategy is suitable for any specific person. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. Gainplan LLC manages its clients’ accounts using a variety of investment techniques and strategies, which are not necessarily discussed in the commentary. Investments in securities involve the risk of loss. Past performance is no guarantee of future results.

Categories: Careers, Family, Gainplan Facts, Industry Ideas