Understanding the Value of Financial Planning
Tim McMurtry talks with Northwestern Mutual fiscal guru, James “JB” Bell about the need for financial security in these changing times. There are lots of factors that contribute to financial security and wholeness. It can be a difficult conversation to have.
James shares the story of his journey, through significant family loss and personal challenges, into a successful career in the field of financial advising and wealth management. He discusses the key essentials to financial security and how he helps clients define their goals.
Episode Highlights:
02:06 It has probably become even more important that our finances are secure and our financial wellness is stable because we can weather storms like this even if we didn’t see them coming.
05:09 I had to quickly understand that my health, and getting out of financial problems was going to come from my effort. And that was a really powerful thing for me to understand early on.
12:18 We believe that someone is financially secure when their income is no longer based on their labor.
14:01 We prepare for the things that can go wrong so we can truly enjoy the things that will go well.
16:51 I can’t make the money for you, I can give you some motivation but typically a financial advisor is going to be best suited to help one with financial planning who has savings issues. Financial planning and financial literacy are two different worlds.
20:36 Some of these things are less about the money issue and more about the mindset and how we communicate with ourselves.
27:42 When I approach people, I approach people believing that the answers to their problems are already inside of them. I’m just uncovering things by asking questions.
40:30 So long as we’re willing to take the necessary accountable action, we can rest assured that things are going to get better for you by the sheer fact that you are taking action in that direction.
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