The Art of the Plan

By Nancy Beck

The Art of the Plan will help you think differently about your money.

• Language: English
• Publisher: Beck Financial Strategies
• Release date: Jun 28, 2021
• ISBN: 9781952654336

Book preview

The Art of The Plan

A Guide to Financial Success . . . So You Can Play More!

Nancy L. Beck

Niche Pressworks

Indianapolis

THE ART OF THE PLAN

ISBN:

eBook 978-1-952654-33-6

Paperback 978-1-952654-34-3

Hardback 978-1-952654-35-0

Copyright © 2021 by Nancy L. Beck

All rights reserved. No part of this book may be used or reproduced in any manner whatsoever without prior written consent of the author, except as provided by the United States of America copyright law.

Nancy Beck is registered with J.W. Cole Financial and J.W. Cole Advisors. Securities offered through J.W. Cole Financial, Inc. (JWC) Member FINRA/SIPC. Advisory services offered through J.W. Cole Advisors, Inc. Opinions expressed in this publication are those of the author. They do not purport to reflect the opinions or views of J.W. Cole Financial or J.W. Cole Advisors (JWCA). Beck Financial Strategies, Niche Pressworks, and JWC/JWCA are unaffiliated entities.

For permission to reprint portions of this content or for bulk purchases, contact Nancy Beck at [e-mail].

Artwork and illustrations by Nancy L. Beck

Published by Niche Pressworks; http://NichePressworks.com

Life is a great big canvas, and you should throw all the paint on it you can.

—Danny Kaye

Dedication

I’d like to first dedicate this book to my mother and father, who will never see my dream realized, but whose unconditional love and support are still ever-present.

Mom, for your eternal optimism in teaching me that you can do anything you set your mind to, and for being a steadfast listener. You have always been my #1 supporter, and every day, I can still hear your encouraging words. You truly were a Renaissance woman yourself, and your humble inspiration continues to support my voracious appetite for learning more, always.

Dad, for your dedication to our family and for introducing us to the love of good food. Some of our best times together were when sharing marvelous meals with friends and family around our dinner table. You understood the craft of making people feel at home at any meal served around the ever-welcoming Beck family dinner table. My hope is to honor you by continuing this tradition.

And last but certainly not least, I dedicate this book to my husband, John White. Your unwavering support and commitment have provided me with the courage to believe in myself and take the risks necessary to grow. You took this journey with me every step of the way, even creating the title, The Art of the Plan. Without your wisdom, encouragement, and our long evening discussions over a glass of wine, this book might never have been written.

Contents

Dedication

Preface

Introduction

Part 1: YOU CAN HAVE THE LIFE YOU WANT

Chapter 1: It’s OK to Want More

Take a New Perspective

Why Wait to Start Planning for Your Ideal Life?

Take This Opportunity to Do It Right

The Myth about Worry

The BFS Way

Chapter 2: The Real Value Is Time

It’s about Your Time

What Exactly Is Financial Planning?

BFS LIFE Plan

Why DIY-ers Don’t Have Fun

Chapter 3: Give Yourself Permission to Make a Change

There Is No Time Like the Present

What’s Holding You Back?

What about That Monster in the Closet?

You’ve Got This!

Part 2: THE EASY BFS WAY

Chapter 4: How to Play More and Worry Less

Start with the Simple Answers

Begin with You

Find and Implement Solutions

Stay Connected

It’s Just That Easy

Chapter 5: Do This First

Finding Your Stuff

The Nuts and Bolts

Chapter 6: Is It Time to Get Help?

Being a Good Saver Alone Is Not Enough

The Six Keys to a Financial Plan

The Cost of Not Having an Advisor

The Benefits of Having an Advisor

Chapter 7: What’s Missing in Your Financial Plan?

You Just Never Know When …

Why a CFP® Professional?

What Questions Should I Ask?

In a Nutshell

Chapter 8: Getting On with Your Life

Good Problems to Have

Don’t Wish You Had Done It Sooner

Let Your Advisor Do the Work

Part 3: NO W FOR THE GO-GO YEARS

Chapter 9: What Really Matters to You?

From Dream to Reality

Questions to Ask Yourself

The Graveyard Is Full of Irreplaceable People

The Facts Are Real

Chapter 10: So, What’s in It for You?

You, Too, Can Live the Life You Envisioned!

How to Get Started with Your Plan

Plan More. Play More. Be More.

Epilogue

Endnotes

About the Author

Acknowledgments

Final Note

Live as if you were to die tomorrow. Learn as if you were to live forever.

―Gandhi

Preface

Art and Finance – Not Magic

Some years ago, I read the book Start with Why by Simon Sinek. He dedicates his writings to inspiring people to do things that inspire themselves, an idea that changed the way I look at everything I do in my own life. While Start with Why was written mainly for company leaders who wanted to find purpose for their businesses, it resonated with me as a message that I 1) needed to live by and 2) wanted to inspire others to live by.

The question of why is BIG. To many, it is abstract, overwhelming, and sometimes difficult to uncover. It had been missing in my life, and I realized I had also missed it all together when exploring my clients’ lives. After my own purpose became clearer, I became more confident in sharing who I really was and what I was really about.

This helped me immensely when assisting my clients in finding their own why, which needed to be the nucleus to building any financial plan. It also brought the enjoyment that I had been missing, the intimacy I had wished for, and the lasting friendships I now have with my clients. And maybe most life changing, it gave me the courage to share my other side, something I never did before.

For many years I kept my art life separate from my financial planning life. I didn’t think they belonged together. People would say to me how rare it was to be a financial advisor and an artist. We were supposed to be either left-brained or right-brained, but not both. When I mentioned this to my aunt, Rosemary Browne Beck, a very accomplished oil painter, she disagreed. I don’t think it is odd at all, she asserted. Portrait painting is merely getting to know your subject; then it’s all detailed problem-solving. Isn’t that what you do for your clients?

I came to understand that she was exactly right. I also began to see a theme between the two mediums. At my studio shows, people would often say to me, I couldn’t possibly do that; you just have such talent. I can’t even draw a straight line. At which I would always reply, I can’t draw a straight line either; that is what a ruler is for. Straight lines aren’t that interesting, anyway.

I would hear similar sentiments in my office. You have talents that I’ll never possess. You must be gifted in calculating facts and figures. I am intimidated by it all and couldn’t possibly figure this out on my own. At which I would respond, "I am good at math because I use a calculator. Financial planning is merely about listening, using common sense principles, and then finding the right tools to realize your unique vision."

I used to watch my mother as she taught art to her young teenage students. She would encourage them by announcing, Anyone can be good at art. It’s not a talent you’re born with; it’s a craft you develop over time. I have come to realize she was also right. Anyone can do anything they put their minds to if they are interested and willing to commit to learn and practice.

When I decided to write this book, I discovered the similarities between painting portraits and designing Why-focused financial plans. I thought it might be helpful to share, step by step, the process I use to paint a portrait. Art is not magic; it is merely a process broken down into small, easy steps that eventually come together to unveil the desired image. The financial planning process is remarkably similar, taking one step at a time, letting the information come together to eventually uncover the new way of life you are seeking to find.

The other strikingly similar aspect of the two is that of getting to know my subjects. There is an intimacy that begins to build over time. Whether it is the eyes suddenly evolving from mere brushstrokes of paint on canvas or the face looking back at me as if to say, This is who I am, the discovery is always heart-stopping.

This emotion strikes me every single time I develop a