Young professionals have a lot on their plate, and spending time reading endless personal finance information on the internet that is tailored to the masses can be complex and time consuming. It is hard to pick a financial advisor you trust to do this, especially when there are so many interchangeable terms for these professionals - Financial Advisor, Financial Planner, Financial Professional, Financial Services Representative, etc. The way the industry is structured has caused those early in their careers to have limited access to these professionals simply because they haven’t saved up “enough” assets. These were a couple of the reasons that led me to start Pocket Project.
Everyone deserves objective advice, which is advice that is in the best interest of the client (not the company or the financial professional). I have structured my business to reflect my commitment to objective advice, as I have no insurance licenses or fee arrangements tied to my recommendations. All of my advice comes from what I believe is the best decision for my client. There are so many options when it comes to making financial decisions – my job is to give education on the consequences (good or bad) of a decision, and what alternatives there are to help achieve a stated purpose. There is rarely a “correct” answer due to the many factors that go into a financial decision, but my goal is to weigh the pros and cons and help my clients make the most informed decision.
Financial planning is more than just investing and making as much money as possible. It involves managing cash flow to build wealth, protecting your wealth from theft, liability and early death, sheltering or deferring income from taxes, and so much more. The laws and nuances of each account type with which you can save money, and the pros, cons and rules of each of these accounts, is enough to give anyone a headache and only scratches the surface of the complexities in an individual’s financial life. There is never a “one-size-fits-all” solution and working collaboratively with an advisor can help with long term success. In my opinion, the most important part of a financial plan is ensuring everything works in harmony. To achieve this, each decision should be made based on the full picture.
I started Pocket Project to give the younger generation access to an objective financial professional and to work with clients in my peer group. I can relate to what my clients are going through as I have been through similar experiences, and I have the knowledge and resources to help guide them through these events. Just because an individual has not saved up a large sum of money (or, any money), does not mean they should miss out on the opportunity to get help. For the typical client that I support, the biggest asset is their earning potential. Understanding how to manage and plan around their income and earning potential is a very important piece in their current financial picture. How are they using their cash flows to achieve what they want? What opportunities are they currently missing out on because they are not aware of these opportunities?
Through my career as a planner, I learned quickly that a successful career is way more than the amount of money made – it is the enjoyment and growth achieved. Additionally, a large income is not the only factor in becoming financially "successful" - this also comes from learning how to understand and use money. I see a lot of individuals stuck in the trap of “I have to make and save as much money as humanly possible to be successful”, but this doesn’t have to be the case. Having a plan that outlines what it takes to achieve one’s definition of success helps to prioritize saving for the future, while enjoying one’s money today. If an individual is responsible and “Saves Wisely” for the future, then they can rest assured that they can “Spend Happily” today. Finding this balance that suits one’s lifestyle and goals is what financial planning is all about; helping individuals become comfortable with their financial life, and in turn finding more fulfillment and confidence in their spending.
I am here to be an accountability partner and to encourage good decisions moving forward. The best way to start towards financial success is to build a plan, and the best time to start is now.
I was making more than enough money in my previous job that would support the lifestyle I want to live. I felt that I had job security. I knew I would be financially successful (per my own definition) and I would be able to live the lifestyle that I wanted. But when it came to fulfillment and enjoyment in the work I was doing, I couldn’t relate to the clients I was serving which made it feel like there was something missing. I knew I wanted to work with my peers - so I started my company to do just that. I hope to empower you to be ruthless in finding happiness with the use of your finances.
Let’s go on this journey together!