WealthBound Core Philosophies

Each of us has a unique approach, philosophy, and attitude towards money. Our upbringing and life experiences influence our financial mindset.

Even though every financial plan is unique, there are guiding principles and recurring themes in all financial plans. Ultimately, our job is to listen to where you are trying to go and help you get there as efficiently as possible. This list highlights WealthBound's guiding principles.

1. Without knowing your values, we know nothing

   1. The ultimate goal of financial planning is to get to the end destination with the least amount of speedbumps possible. We'll never know what that end destination is if we don't fully understand your values first.
      

2. You will control your money or it will control you

   1. How often have you seen someone who won the lottery but ended up exactly where they were years later? At the same time there are plenty of people who never make an exuberant amount of money but still manage to become millionaires. Our behavior is what dictates our future when it comes to wealth.
      

3. Prioritize the things you value most

   1. Time is the one thing we will never be able to get more of. Financial planning should allow you to spend time doing the things you love, not stress you out every day.
      

4. No emergency fund, no plan

   1. Remember when I talked about avoiding as many speedbumps as possible? This is what will keep you from turning a speedbump into a fatal accident. Liquidity is always built into our plans to provide flexibility.
      

5. Be open and honest about money

   1. Talking about money doesn't need to be taboo, remember it will either control you or you can control it.
      

6. Cash Flow, Cash Flow, Cash Flow

   1. If we do not have a grip around Cash flow it is nearly impossible to plan for the future. We need to understand how our money flows in and out monthly.
      

7. Use debt to your advantage

   1. I am not in the camp of "all debt is bad". Leverage debt to your advantage and avoid high interest debt at all costs.
      

8. Pay yourself first

   1. It seems obvious but one of the easiest ways to get ahead in life is to pay yourself first. This simply means allocating money, savings, and investments first then spending what is left over. Most of us do this process in reverse and guess what...? There's usually nothing left over.
      

9. Nobody has a crystal ball

   1. The fact is we cannot see into the future. It's a losing game trying to time the market whether that be traditional investments or real estate. At WealthBound, we don't let emotions get in the way of our investment strategy.
      

10. More money ≠ More Happiness

    1. Now I know more money solves many problems, and yes, more money allows me to do the things that make me happy... What I'm saying is at a certain point, you have enough money and more of it will not have an impact on you. Your self-worth should never be tied to your net worth.

Think of a financial plan as a map with various paths to explore, offering you the flexibility to choose between a scenic route, a detour, or the quickest path. Unexpected events will arise along the way, but these guiding principles serve as our constant reference point, helping us navigate through uncertainties and stay on course towards financial stability and success.