The Preview

Building a financial plan is a lot like constructing a house. From the foundation to the roof, all of the elements of a house work together to provide you security and longevity. That’s the same way your retirement plan works so let’s explore the idea and identify the different financial pieces.

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The Game Plan

You don’t have to be a home builder to understand the role each part of the construction process plays in ensuring a strong and sturdy house. If you cut corners or ignore parts of the blueprint, you’ll be left with a subpar or even uninhabitable final product.

This is very similar to a financial plan. It takes careful construction, attention to detail, and a complete look at your needs to build a plan that provide you with security and confidence.

On this episode of the Retirement Game Plan podcast, Mark will walk us through the construction of a financial plan by using the key elements of a home. We’ll start with the foundation to determine the piece of the plan that everything else is built upon. Without a solid foundation, the rest of the house won’t stand for long.

From there we’ll talk about the walls of the home. What would the equivalent be in your financial plan? Mark takes it a step further and even explains what investments you’d use to strengthen the walls.

And then we’ll discuss the roof. How do you protect yourself from the outside elements? What’s the best financial product to achieve that goal?

In order to start building your plan, you’re going to need the correct tools for the job. That’s why working with a financial professional is an important part of identifying and utilizing the tools that best meet your needs and goals. That’s the last thing we want to leave you with on this episode and hopefully the conversation will help you get a better understanding of what it takes to build the strongest plan for yourself.

Listen to the full episode in the player above or check out the timestamps below to hear Mark’s answer to a specific question.

The Plays

0:42 – Are you good with your hands and enjoy building things?

3:22 – Here’s what we’re talking about today in terms of building a house.

4:23 – The foundation of your financial house

6:37 – Income sources aren’t an income plan.

7:26 – What would the walls be in your financial house?

8:50 – What should you have to strengthen that wall?

11:43 – Let’s talk about the roof now. What’s covering your head?

16:46 – Estate plan and tax plan are important

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J. Mark Truttman: Published Author of

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