The importance of taking care of our physical and mental health is becoming more widely understood but what isn’t yet being talked about as much is the fact that our financial health is equally important. Today, we are joined once more by Kristina Keck of Woodruff Sawyer, as well as her colleague, Tracey Allen who is currently receiving financial coaching from Financial Finesse’s own Kevin Miller. We'll hear about Tracey’s financial coaching journey from what prompted her to pick up the phone in the first place to where she is now with her financial goals. Kevin joins the conversation to share his side of the story and break down his process of working with Tracey to achieve her goals.
Key points from this episode:
- Tracey Allen’s personal and professional background.
- What prompted her to seek financial coaching and how she got connected with Kevin Miller at Financial Finesse.
- The difference between a financial coach and a 401(k) provider.
- Tracey’s progress towards her goal of buying a house.
- Kevin breaks down the process of working with Tracey to achieve her goal.
- How best to tackle a financial goal or challenge.
- What prompted Tracey to seek guidance around retirement planning.
- The impossibility of timing the market and what to do instead.
- How Kevin carried out a risk tolerance assessment with Tracey.
- The difference between advice and guidance.
- Tracey’s advice for employees with financial concerns.
- Kevin’s advice for navigating the current market.
- What Tracey has gained from Financial Finesse.
Quotes from this episode:
“For any financial goal or challenge, it’s [about] starting big picture and winnowing down. ” — Liz Davidson [10:22]
“[As coaches we need to] be consistent in the guidance that we’re giving. What’s your risk tolerance? What’s your age, your time horizon, and your thinking beyond just the risk? And don’t think you can time the market.” — Kevin Miller [21:03]
“As an employee, I’m so grateful for the tool because had we not had Financial Finesse available, I don’t know if I would have made those decisions. I probably would have had to do a lot of research on my own. For me, it was just a great resource. It was a no-brainer to call in for help and support. — Tracey Allen [22:53]
“The same way you take care of your physical health and your mental health … you have to take care of your financial health. It’s a no-brainer.” — Liz Davidson [23:24]
Links mentioned in this episode:
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