Pope Francis has quickly laid out his philosophy to create a new Catholic order. He has commented that the Catholic Church should focus on helping the poor.  This has met with strong approval from U.S. Catholics.  Francis reaffirmed traditional church teachings, but said the church must “find a new balance” or risk seeing its entire moral edifice collapse “like a house of cards.”

Many people realize a strong spiritual and religious philosophy is important.  They may also realize that a financial philosophy is also important.  A good Financial Philosophy allows you to achieve many comforts.

Put simply, Capstone’s 9 step plan is:

  1. Maintain 3 to 6 months of money for unexpected necessities.
  2. Pay yourself first!
  3. Maximize the benefits of owning your company and the tax benefits accrued to it.
  4. Create a plan to eliminate debt and your mortgage.
  5. Protect you and your family for healthcare and the unexpected.
  6. Invest in things that are on sale and have momentum and create recurring revenue.
  7. Develop an exit strategy and have liquidity from your business.
  8. Maximize Social Security, Medicare, and other government benefits.
  9. Create a legacy.

You may have a plan already and want to know if it is going to get you where you want to be.  You may not yet have a plan.  Don’t worry about feeling ashamed or guilty because you don’t have a plan. What is more important that you take the steps in the right direction. We can help you do the rest.

Pope Francis has made it incredibly clear what his philosophy and his plan are. An 89% favorability rating is a strong show of supporting confidence.  Do you have this much confidence in your financial plan?

By James Cornehlsen, CFA

To learn more about James, view his Paladin Registry profile.

Tags: financial advisors, financial plan, retirement