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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!
