“Trust is what matters most in any relationship”
- Jim Munchbach
I see commercials for online brokerage companies that promise “independence” for people who want to invest on their own. That may be fine for somebody with years of experience in designing, fine-tuning, and implementing a financial plan, but most of us need a trusted friend to help us clarify our choices and give us a little encouragement to do the right thing. In fact, I’d say that having a person we can trust is absolutely essential to the process of financial management.
I want to warn you about people who are more interested in selling products and earning commissions than in helping you fulfill your dreams. I’ve known people like that, and for a while, I saw one in the mirror each morning! Fee-based financial planners are paid to objectively analyze your situation and make recommendations with no pressure to sell products that aren’t part of your goals.
Some of us need to hire a professional to help us design a financial plan, but most of us can get far down the road with a little time, a little diligence, and a friend who can help us because he or she has already gone down that road.
If you wonder if your financial planner has mixed agendas, here are some things to watch for:
—Is he wearing a Rolex and Bruno Magli shoes?
—Is she driving a $90,000 car, but you caught her talking about having a hard time paying her credit card bill?
—Does he charge a fee, or is he paid by commissions from sales?
—Does she appeal to your selfish side, focusing on the indulgence you can enjoy if you have a lot of money, or does she ask about what matters most to you?
—Does his offer seem to be prepackaged, one-size-fits-all?
—Does she use any pressure to get you to buy a product?
—Is he as slick and the proverbial used car salesman, always smiling and promising, glossing over details and moving in for the check?
Jesus Promises Living Water
On the last day, the climax of the festival, Jesus stood and shouted to the crowds, “If you are thirsty, come to me! If you trust in me, come and drink! For the Scriptures declare that rivers of living water will flow out from within.” (When he said “living water,” he was speaking of the Spirit, who would be given to everyone who put their trust in him. But the Spirit had not yet been given, because Jesus had not yet entered into his glory.)