The commom approach to Financial Planning

In the common financial planning world, there are two types of money in your circle – accumulated money and lifestyle money. We are taught that in order for us to grow our circles, we must move money away from our lifestyle and put it into our accumulated money in order to meet our future obligations. We’ve been led to believe that the only way our wealth can then grow is by finding better investments that will pay higher rates of return.

However, in recent times we have been shown that these rates of return come with a high level of risk, causing our circles to shrink, not grow. Moreover, forced lifestyle changes can make saving money a resentful and discouraging process.

If what you have always known to be true turned out not to be true, when would you want to know?

An uncommon and better approach

At Steele Financial, we work with three kinds of money – lifestyle money, accumulated money and transferred money. Transferred money is money that is leaving your circle of wealth unknowingly and unnecessarily. Examples of transferred money are: how you pay your mortgage, credit card debt, taxes, as well as many more.

Our job is to locate those areas in in which you may be needlessly transferring money away, recapture those lost dollars and redirect them to one of two places – either to your accumulated money so that you are able to meet your future requirements, or into your lifestyle, so that the journey along the way is a pleasant one. Finding these extra dollars means that the risk factor is lessened. Another core to our approach is to make sure that you are in a position of control over your money, rather than being dependent on the Financial Institutions and their rules.