Financial Mentors Can Help You Succeed!September 25, 2018 March 9, 2021 /
Financial mentors can help you achieve Financial Independence.
Consider taking advice from financial mentors who have already learned the hard way. They can help you progress faster and with much less pain.
Discovering Financial Independence is magical. After tripping over a blog or listening to a podcast, change comes quickly. For example, you can plot major life reorganization in those first six months after deciding to pursue Financial Independence. Debts are paid. Assets are reallocated. Revenue streams are optimized. Some even start a side hustle.
With some significant first steps, you can set your life and goals on autopilot. But then you may hit a roadblock. Those beginning steps are so easy. Then you stumble on and break through to what comes next.
Eventually, better comes next.
Better is the state you continuously strive towards. But how do you get better after you accomplish the basic tasks set out before you? Is it time to consider a money mentor?
Financial Mentors are not a new concept.
Back in 2011 surgeon Atul Gawande, in The New Yorker, described his use of a coach in the operating room to improve technique and outcomes. Like in athletics, the idea was to have an outside expert observe and critique his performance from afar. Unchained by internal conflicts of interest and emotion, the mentor was able to point out unnoticed flaws in Gawande’s performance. Because of this, his patients improved.
Similarly, in the personal finance sector, many have benefited from an outside perspective. And you, too, will benefit from a well-intentioned and well-versed financial mentor.
Fiology thanks the Filosopher of the Financial Independence Community, DocG of the Earn and Invest Podcast, for shaping this lesson.
- How to Find a Financial Mentor (And Why You Need One!) by Lou Carlozo of moneyunder30.com
- Mentoring in the Financial Independence Community by David Q. Baughier of fiology.com
- A Debt of Gratitude For Financial Mentors by Jim Dahle of whitecoatinvestor.com
- FM 022: The Shocking Truth About Life After Financial Independence with Tess Vigeland by Tess Vigeland of financialmentor.com
- Developing a Wealth Plan: Interview with Todd Tresidder, Founder of Financial Mentor RPF0086 by Todd Tressider of radicalpersonalfinance.com
- The idea of mentoring outside of the athletic arena is gaining speed. The Financial Independence journey is rife with pitfalls. These include both economic and social pitfalls. Because we don’t know what we don’t know, we can all use an experienced hand to guide us. So, consider attending a local ChooseFI meetup or a CampFI. When you do, you will meet people with experience and expertise willing to help you reach Financial Independence. And when you feel comfortable, reach out to them. There are many people willing to help you succeed. Seek them out and propel your confidence and results.
- Sometimes we need more than mentoring. If you feel your personal skills gap is too wide to overcome to make immediate progress, then Financial Independence Coach is worth considering.
- Financial Coaching vs Financial Advice by Todd Tressider of financialmentor.com
- Becoming Financially Independent by Barbara Stanny of Wall Street Journal on YouTube
“The greatest good you can do for another is not just to share your riches but to reveal to him his own.” – Benjamin Disraeli
Thank you for the mention. I really appreciate being included.
I also think it’s important to include MrMoneyMustache in this list. Before Pete came along us FI advocates/mentors were just an outcast group in the “retirement planning” category with non-conforming ideas. Pete’s meteoric rise in popularity did more to popularize FI than anyone else giving him a clear foothold in the mentor category for introducing so many people to the main principles.
Absolutely agree. Pete has done an excellent job of understanding (creating?) the modern concept of FI, packaging it, and messaging it in a matter of fact tone that impacts a broad spectrum of people. Because of his effort and commitment, millions of people who might have never stumbled upon the concept of Financial Independence might still be reading off the traditional social script of pursuit of happiness rather than the one he promotes. His script is way more logical.