From the Trenches: An Update on Financial Planning from Unbridled Wealth

In these unique times during the COVID-19 pandemic, we have seen practically every response under the sun, when it comes to personal finances.  The initial impact is obvious throughout the U.S., but the reactions are abounding.  With upwards of 40% of the adults in the Nation who cannot afford a $400 unexpected expense, it’s no wonder we are seeing such a wide range of responses.

We’ve seen a borderline run on the banks with people worried money will be hard to come by.  We’re hearing of people cashing out their 401(k) amid fear of losing the rest or taking advantage of the newly passed CARES Act.  However, even though the range of financial obstacles, we’re seeing a positive trend in many areas, including those who are utilizing their own private family banking system now more than ever.

When it comes to our clients, we’ve had a much different response. One client just last week at his Annual Review said, ‘I finally get the true power of Private Family Banking’. His 401(k) was down more than 20% for the year, but his Banking System is growing 5% and will continue to no matter what happens with the market. We have been talking to our clients about a coming recession for over a year and even though we weren’t expecting it to come so quickly, most of our clients have been preparing themselves in cash-ready positions to make the most of this crisis and the potential recession it will bring.

Here at Unbridled Wealth, our strategy has remained true despite the numerous ripple effects of COVID-19 – helping families, businesses and non-profits achieve financial wellness through uncommon approaches.  Our approach is and has always been to help our clients better understand their financial landscape, along with their financial goals & objectives.  We want to help them connect their finances with their goals and objectives by utilizing private family banking.  Now more than ever, a good solid strategy is needed amidst this global tragedy, and we want to see our clients not only survive, but thrive.  The beauty of private family banking is that none of our clients' cash values have actually declined, because these banking systems utilize guaranteed returns – giving them the ability to prepare to make investments in real estate and stay ahead financially.

We have been working hard to help our clients come up with practical and creative solutions to their finances.  It is important not to make knee-jerk reactions that may impact you for decades.  We have been equipping our clients with the tools necessary to create their own private family banking systems.  Through our free education and strategy sessions, we are helping them discover even more creative ways to access, redirect and rearrange their finances, as well as start creating financial velocity amidst these unprecedented times.

We encourage ICOR members that NOW is the time to be creating a plan and looking for opportunities to capitalize and stabilize during the economic disorder.

If you would like to hear more about creating your own private family banking system, while developing your overall personal financial strategy at the same time, do not hesitate to reach out!  We are here to serve you and be a resource for you in your real estate investing endeavors.

Jason K Powers | Wealth Advisor
jpowers@unbridledwealth.com
303.250.1755