Family Financial Planning with Robert Gignac

May 16, 2016

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family financial planning Robert Gignac

Family Financial Planning with Robert Gignac

SUMMARY:

In this week’s episode of the Sailing to Success Podcast Show, Lyndsay Phillips interviews Robert Gignac. Robert is a best selling author and sought after public speaker. Robert teaches people to manage their finances and build a rich future with family financial planning.

MAIN QUESTIONS ASKED:

  • Rich is a state of mind, what does that mean?
  • Why is fear such a barrier to managing your finances?
  • Should we ask why before we ask how?
  • How can we change our money mindset?
  • What are some of the things we should be doing to manage our money?
  • What book are you working on now?

KEY LESSONS LEARNED:

Family Financial Planning

  • Money is a very emotional subject.
  • Many learn how to manage money from their parents, who may not have a great understanding to begin with.
  • Managing money well isn’t determined by how smart you are.
  • It’s OK to admit that you don’t know something.
  • It’s easy to push managing your finances into your future, it’s hard dealing with it today. You have to avoid procrastinating.
  • The best time to start something is twenty years ago, the second best time is today.

Financial Literacy

  • It’s not an issue of knowledge, it’s an issue of taking action.
  • Working with someone who will hold you accountable is very important.
  • Understanding why you want to master your money will help you actually achieve your goals.
  • Avoid the techniques and focus on the plan.
  • Personal finance is more about money and investing.

Financial Goals

  • Setting goals can be scary.
  • We can be afraid of judgement or being vulnerable when we set goals.
  • Goals are how you measure success.

Insurance/Wills

  • Insurance isn’t for you, it’s for the people you leave behind.
  • You need to figure out what the correct amount of coverage for you and your family is.
  • Having a will is crucial even though it’s a very emotional subject.
  • A will is about protecting your family and their future.
  • Around 50% of North Americans do not have a will.
  • Having insurance and a will takes only a few hours of work to set up and prevents a disproportionate amount of heartache.

Writing

  • Writing is often romanticized. The reality is far more difficult.
  • You have to find what works for you.
  • Writing means creating something whether you feel like it or not.
  • Writing a story can be more like revealing than creating.

Final Tips

  • Don’t put off dealing with your future and family financial planning.
  • Remember, it’s not for you. It’s to protect your family.
  • Reach out to a financial advisor for help.

Thank you for listening! If you enjoyed this podcast on family financial planning, please subscribe and leave a 5-star rating and review in iTunes!

LINKS TO RESOURCES MENTIONED:

Rich Is A State Of Mind Book

RichIsAStateOfMind.com

RobertGignac.com

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