Jacob Bair Unique Advantage Video Testimonial

January 10, 2023

Video Transcript

Speaker: Jacob Bair

How was the planning experience with a Principles-Based Financial Planner different than what you had expected or experienced before?

Jacob Bair: I would say there are a couple of important ways that the meeting with the principles based financial planner was different than what we expected or what we had seen before from other sources of financial planning. One was the presentation of all the the principles as principles where other things that give advice on financial planning are typically that we've seen are more giving advice or telling you how to get, really trying to make money, an easy thing that just kind of takes care of itself. The principles based stuff is focused more on giving you a correct foundation I think and gives good presents them as principles which or core kind of truths that you need to base your actions on which we found was really helpful and in line with that we know that all things in life that are worth having are not easy, but are things that take work and effort. And I really liked that focus as well. That counter to the common advice to just dump all your money in a pot that somebody else takes care of and supposedly makes bigger. They teach you the importance of learning and knowing what you're doing with your money. And that basically all things in life that are worth having take effort. And so those are the biggest differences I think. Uh and we we really enjoyed the principles and the power that the control over the money would give us

How do you believe your knowledge of the Five Principles of Personal Finance will help you in your finances going forward?

Jacob Bair: I think the biggest way that the five principles will help us in our finances going forward is to help us to be active participants in our finances, both now and in the future, rather than being passive people that just money things happen to. I think that the principles base really helps to show that we are controlling the path forward for our financial freedom. Um, and I also think that it will help us in just analyzing the costs of different things and seeing better the the things that provide more benefit than cost and things that provide not enough benefit for the amount of cost. I think those are the probably the two biggest uh, individual little ways that we can, then I can see this impacting our future and making choices and what to invest in and things like that.

What did you feel was most helpful or valuable about the planning process?

Jacob Bair: I think the most important thing for me in the planning process was to really dig in and read all the things that they offer you as good examples to read, watch the videos, they offer you as good examples to watch the documentary. The um reading both their financial planning book Principles-Based Planning and reading Rich Dad, Poor Dad and reading some of the other books that they cite as references in detail, gives the I think that gives the importance of getting the knowledge into your brain more solidly and and helps those principles really take root is making sense. And so I would say it's most helpful to work through the things with the planner and then take their advice and not just let that sit but to dig in more deeply on your own time so that those principles really sink in.

Why do you believe others will benefit from going through the Principles-Based Planning Process?

Jacob Bair: I think the most important way that the principles based planning process can be helpful to others is in doing a paradigm shift from finances and money being kind of a thing you have to deal with and that you want to kind of shove to the side as much as possible and just leave it to be done whatever happens happens and make you know retirement kind of being easy for a one K throw stuff in a pot and hope it works out. I think that shifting that into an active, principle-centered part of life that cannot only make life a lot easier when you put the proper effort in, but can bring a lot more joy to your life, make things a lot less stressful and give you more control over your kind of life and what goes on. So I think that's the biggest thing is setting that into a place where you are the master of your own finances, not the other way around and that's

If you read the book, Principles-Based Planning, what value did you get from reading it and why do you feel others should read it?

Jacob Bair: I thought Principles-Based Planning. The book was excellent at breaking down financial things into key core truths and principles. I loved that it related it to Stephen Covey's, the seven habits of highly effective people and uh the importance of having the right paradigm to see the way that your finances work and Really is gauged at, at turning the way you look at money into a different thing. I thought that it was well written and concise, which are two of my favorite things. I love when a book is not an extra 200 pages that don't need to be there. And this one was short enough that it was very readable, um didn't go off in the weeds, but just really focused on getting you the principles, giving you some references and helping you to see the meaning and being done, which I think is an excellent way to write a book. So those are why I think people should read it.

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