"I can't tell you how many people have said, 'I want to retire early.' And I said, 'Great, what are you going to retire to?' And they just pause, some of them chuckle. And I brought this up to many people and I said 'Retirement is not a wedding, it's a marriage. It's not a one-day event.'"
Our host Joey Loss sits down with Maggie Klokkenga, a seasoned financial planner, who shares her riveting journey from founding her firm to joining Abundo Wealth. Maggie reveals the hurdles of solo entrepreneurship and why she ultimately thrived in a team setting. She offers priceless advice on the necessity of understanding current cash flow for effective retirement planning and the complexities of business growth, shedding light on the realities of stepping into a CEO role.
Ever wondered how childhood experiences shape your financial behaviors? Maggie delves into the world of money scripts and attachment styles, utilizing the Klontz Money Script Inventory (KMSI) to reveal hidden financial habits. Through compelling client stories, she illustrates how early financial insecurities manifest in adult spending patterns. These narratives open doors to intentional change, demonstrating the need for patience and faith in the financial planning process.
Balancing financial planning with personal well-being can be daunting, but Maggie offers practical tips to make the journey smoother. Learn how to track expenses effectively, manage subscriptions, and avoid being overwhelmed by financial decisions. Through personal anecdotes, including her own quarterly spending reviews with her spouse, Maggie underscores how unnoticed expenses can derail financial goals. This episode is a treasure trove of strategies to enhance your financial planning journey while maintaining a balanced, fulfilling life.
Key Topics:
- Welcome, Maggie Klokkenga! (01:05)
- Financial Planning, Entrepreneurship, and the Challenges of Running a Solo RIA (04:52)
- Money Scripts and Their Impact on Financial Planning and Relationships (12:12)
- Financial Planning, Coaching, and Retirement Goals (21:28)
- Finding Balance Between Work, Health, and Retirement Goals (27:03)
- Tracking Expenses and Reducing Unnecessary Spending (33:03)
- Budgeting, Spending, and Financial Planning (38:51)
Resources:
- AbundoWealth.com
- Maggie on LinkedIn
- KMSI-R – Money Scripts Tool
- Future Self Tool – Geared Towards Students
This podcast is brought to you by Joey Loss, CFP®, Adam Van Wie, CFP®, and Strivus Wealth Partners. Through Strivus, Joey and Adam provide financial planning and investment management services to clients across the country from their home base in Jacksonville Beach, Florida.
You can find show notes and transcript of the conversations here: Strivus Wealth - Wealth Unplugged.
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Read our audio, video, and written content disclaimer here.
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