If there’s one phrase we hear most often at Teske Financial Services (TFS), it’s “Why hasn’t anyone ever told me about this before?” Whether the topic is mortgages, mutual funds, auto, home or life insurance, wills and trusts, etc., clients are regularly and consistently surprised to hear that what they’re currently doing is hurting them financially compared to the alternative we discuss.
If you can imagine going through your whole life with a great deal of confidence that you’re making a sound decision in a specific financial practice and then, slowly/gradually you become educated on an alternative approach that puts you in a better position, with more choices, better benefits and less risk, your reaction will be the same. The source of the issue and the new revelation starts with understanding how we come to make our financial decisions.
Let’s start with a basic question, for those who have children, where did you get your training to become a parent? The answer varies, but the fact is that our current educational system doesn’t include required course content in parenting skills. Most of us rely on doing what our parents have done or trying NOT to do what they did – often times finding ourselves saying and doing the same things in the same way. The apple doesn’t fall far from the tree.
In a related way, where have we received any formal education in how we manage our personal finances? The fact is most of us learn what to do financially in the “school of hard knocks.” Without exception, each of our clients tell us of something they did that they’ll never do again because they lost their money (or most of it) in making a bad choice financially. Typically, we can share with them the one or two pieces of information that would have turned that bad decision into a successful outcome.
At TFS, we offer that personal financial education as part of the process of helping the client through a redesign of their personal portfolio. The education is catered to the client’s specific situation. It starts with sound financial concepts that have been proven for over 40 years to position the client to organize their finances in an easy to understand design, analyze options based upon factual comparisons, resulting in the ability to retain more wealth, more choices and more enjoyment of their money at the time when they need it.
If you can imagine accomplishing all of these things, you will find yourself on the other side, looking back with the same reaction, “Why haven’t I/we been told about this before?” The best part is you also realize you have a reliable, honest and trustworthy “architect” to continue to help you design a future that is more certain and more secure. Who wouldn’t want that?