Increase your financial IQ, and you will make better decisions with your money.


We live in a world where we are flooded daily with information, and much of it does not matter to our daily life. We often get partial information, sales pitches or possibly misleading data. So much of it is noise and distracting from our focus and priorities. I encourage you to minimize it or avoid it altogether.

However, when it comes to wealth planning and making financial decisions having honest, and accurate details is essential. Does the person you get your advice from have years or better decades of experience and a wide enough knowledge base to help you? I would suggest we all need mentors in our lives.

A critical question: who are your wealth mentors? If you seek life insurance solutions: make sure the person can clearly explain your options and why they recommend this particular product. A life insurance advisor may be great with life insurance products but inexperienced with managing wealth or other critical strategies. Diversity of knowledge is critical in a very complex financial world.

Pick the right mentor for the proper knowledge you are trying to gain. Only have one to three mentors in a specific field, or you will get confused with too many opinions or insights. Try to master one or two wealth sectors at a time (this will take years). When you are ready, implement that knowledge on a small scale. This way, you will not make a significant financial mistake. If the plan does not work out, no big deal and learn the lesson from it (try not to repeat it!). Mentors plus real-world experience = long-term financial success. 

When you chose a financial coach, make sure they have a good track record and lots of personal experience in that field. It is rare to find one person who can guide you in all aspects of wealth protection and strategizing. Is that person validated by other people, professionals and has many positive testimonials. Do not look for perfect mentors, as they do not exist. All wealth coaches have made personal mistakes, including myself. Setbacks are a part of the educational process in all of our lives. Remember, look for honest and humble mentors.

When I guide my clients, I always explain they need to understand “the why” we are choosing this strategy or solution before we ever implement it. I encourage questions, as that is the only way we learn. If a client understands a solution and does not feel it is the right time or fit, we don’t do it. You should always be in the driver’s seat with your money, and no one should care more about your wealth than yourself. 

Action steps: 

  • What area of wealth do you want to learn? Stocks, real estate, cryptocurrency, precious metals, life insurance strategies, trading, etc.?
  • Who are your wealth mentors? Do you need to find a new coach or add one to the team? Find integral, experienced and honest mentors.
  • Once you feel confident, deploy a small amount of capital into the strategy. 
  • Evaluate what worked and what didn’t. What was the lesson? Write it out and learn from it.

I hope you increased your financial IQ through this Blog. I am developing an online course called “Wealth Foundation Series.” I plan to launch the course in the next few months. It will provide foundational principles of growing your wealth and protecting it, so stay tuned. 

All the best in 2021


Financial Education & Honest Solutions Create Success

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