Speaker: Gregory Gardner, Pediatric Dentist, Grin Pediatric Dentistry & Orthodontics
How was the planning experience with a Principles-Based Financial Planner different than what you had expected or experienced before?
Gregory Gardner: Hi, I'm Greg and this is Laura and we are clients of unique advantage and the principles based planning and we really enjoyed it because it was completely different than other financial planners. We've worked with most of the financial planners, they have the same cookie cutter uh methods and the same formulas, they calculate the same things, they encourage you to put your money in the same places and just give it to them and let them deal with it and you don't have to, don't have to worry about it. Um it was refreshing to talk with Kyle and the team at unique advantage because the principles focus on us doing what we want to do, investing in ourselves, our business, our real estate, our ideas, our intellectual property, and it was great to feel more control, more drive from us. And Kyle did an awesome job reviewing everything we've got and asked us questions and made us think of things that nobody else had. And it was wonderful to feel like we're actually on a better footing, uh have a better direction and we're avoiding that the same like I said, cookie cutter approach that everybody else has and it's it's just not for us. This, this is the direction to go. I also really like this direction. I felt like Kyle and his group is great with this new concept of at least new concept to us of focusing on how you can put your own efforts in and and focusing on yourself and what you can do to better your financial situation and I just felt it was different than other financial planners that we've had before.
How do you believe your knowledge of the Five Principles of Personal Finance will help you in your finances going forward?
Gregory Gardner: Alright, I'm going to start us off on this question, we think that the five principles are great and they're really going to help us with our future financial planning. Um the first principle is saving 15% or more and we are really trying to work on that. We think it's really important, it's more than the average American does and and it's a goal for us and we think it's going to really help us with our future finances. The second one is maximum protection and I like this new concept at least for me it was kind of new to like think about what you can the most you can get, the maximum amount you can get and then work your way down of what you feel comfortable actually paying for your insurances. And so I really like both those and I think that one's going to help us just to know what we can get to like start start low, maybe we can move up. Yeah, I agree. No insurance agent I ever worked with said what's the most you can qualify for? Let's start there and that that concept just is better and I wish more agents did that and said let's get you what you can qualify for instead of just bare minimum and kind of working from there. After that full replacement of assets upon death, it's important to us and it's another similar maximum protection I'd never thought what's the most what what what can we, where can we start from at the top and work our way down or just stay at the top and that is going to protect me in the event that something happens to her or her or our kids and in ways that we hadn't imagined, um saving up, you know, six months to one year storage is a new goal for us. And, and it makes us feel more liquid, more stable, more safe, especially in economic downturn or difficulty. And it gives us the opportunity to invest in things if a great opportunity comes along instead of kind of living, month to month, month or quarter to quarter like most other people do. And then the velocity of money is a concept that we, that is new to us as well and gives us that chance to control what we do, push our money into the things we want to do, protect ourselves and feel that stability that says, hey, we have, we're not being guided by our financial or we're not being forced by a financial planner, but he gave his principles and now we're doing it and gives a sense of satisfaction and pride that other financial planners have not to give in to me at this point.
What did you feel was most helpful or valuable about the planning process?
Gregory Gardner: One of the most valuable aspects to, in my opinion working with the Unique Advantage team was that the team spent time with us, hours actually, explaining the principles going over the concepts, reviewing our specific details and helping us understand what's possible, what what things meant and what directions we should go and, and gave amazing advice even before we paid any fees, bought any insurance, did a plan invested in anything, and most of the plans we worked with were charging thousands of dollars to hear their plan after they just had to fill out some forms and spoke for a short amount of time and, and so the time input to get to know as was extremely valuable to me. For me, the most valuable thing probably was just the personability, like they really got to know our family and what our specific needs were. Um they wanted to know about our kids and about our like everything that we were hoping for in the future with our finances. And so I really liked that personal connection that was made to get to know us. Absolutely.
What helped clarify to you that Wall Street's Accumulation approach to planning cannot work?
Gregory Gardner: Wall Street's approach and and the other financial planners approach. Um like we said before, it's kind of uh cookie cutter formulaic method that says, give us your money, we're gonna charge you a fee and 30, 35, 40 years from now, whatever it is, when you retire, everything's gonna be great. Um No, none of the adults in my life that are retiring have told me, oh my goodness, my 401(k) Is all I needed. It was my IRA was set. I have more money in there than I ever anticipated. Uh that does not happen. That's not the norm. Um Kyle kind of sharing with us all the fees that our other brokers and agents were charging and how it ended up not being advantageous for us over time. And your money being locked up in Wall Street for 20, 25, 30 years doesn't make sense. Your your not allowed to use the velocity of money yourself, but they're using it. And for me that really locked into say they're using my money over 30 years to invest and do other things and I don't get to touch it until I'm ready to retire, but it's probably not even gonna be enough if I use it like them now and I'll be steps ahead and and be to the point where I say, I'm stable and I can protect myself.
Why do you believe others will benefit from going through the Principles-Based Planning Process?
Gregory Gardner: I think other people would really benefit from this because I think it is a new concept of investing in yourself. I think that all the principles are great, I think the way that Kyle connects with you and figures out what you want as a family or an individual is really great and different and I just think that this has been such a wonderful experience for us that I think other people could have the same experience. I think too many people these days are turning to rely on other people to do things for them. Uh my financial planner will make my retirement work great. My, the teachers at my kid's school will teach them everything they need to know. Uh you know, this app will solve all my problems and help me lose weight, but it all those things are taking away that, that personal control and, and these principles, if you abide by them and you condition yourself to do the correct things and like Laura said invest in yourself, invest in your own ideas and and drive your retirement yourself and drive your financial planning yourself with this great coaching uh from the team is different than what other people doing and, and it will provide it already for us has provided confidence um provided for me a sense of accomplishment and that I'm actually doing my part and, and we're already trying to teach our kids and and share this with our siblings to say, hey, these these concepts work and it just makes you a better person, not only here, but in other other areas as you plan and, and have foresight and use your own might in your own efforts to make things happen. So I love it and I think it benefits others. You gotta put in the time you got to go and do it and, and it will be worth it.