Build a Financial Team

It would be really hard or impossible to know everything about everything even though my teenagers think they do. LOL Building a Financial team is one of the Mills Family Financial Freedom rules we cover with our kids.

Since it is hard to be an expert at everything that is why I feel it is so important to build your own Financial Team. A team that can help protect you financially and legally so can retire with Financial Freedom.

Of course, depending on how much your Financial Nest Egg is depending on how much you will need to have your team around. I would guess a billionaire would almost have some of the below team members be working full time for them.

Darlene and myself aren’t at Financial Freedom yet but we are on our last step towards achieving it. So, for now we don’t need our team very often but we have a team that we know we can count on them. We trust them and know that we can call them and they can help us out.

Our Team

Our Financial Team may not be the same as you need or want. This is just what we have for our Financial Freedom goals. Here is what our team looks like:

  1. We have a Personal Lawyer for our Will. When we moved to a new state, we had to find a local Lawyer to do up our Will for our new state.
  2. Accountant for our Personal Tax returns and Business Tax returns. I have been with him for over 20 years and trust him. I went with him because he specialized in not only personal income taxes but also Business Tax returns and has many high net worth clients. We will be sad when he retires and we have to find someone new. That will be a challenge for sure.
  3. Real Estate Agent. We want a Real Estate agent that not only understands the local real estate market and our family needs. But also, that they have or have owned Investment Properties. We like Real Estate Agents that are also Real Estate Investors.
  4. Financial Planner. This is a position that we have changed many times and I still don’t feel like we have a solid one currently. I really don’t feel he gives us much help. Thank goodness his service is free from the Brokerage company because we do our own trades currently. We aren’t ready to turn it over yet. That may change someday if I found that right person we are looking for. We want to be with someone that also is almost Financially free.
  5. Insurance Agent. In the past we have gone with Independent Insurance agents that could shop around. Since we moved to a new state, we are still looking for someone in our new state. Our one from our old state hasn’t been able to help us down here. The quotes we have gotten in the last two months still can’t beat our current company we are with.
  6. Local Banker. Some people would have a Mortgage lender to be able to buy property. We don’t believe in borrowing money in our current situation of being debt free. We are not fans of taking out any loan. So, we just need a banker for local checking account and small needs. No loans for this family.

Other people may have even more added to their list. They may have also a;

  1. Mortgage Lender or Small Business Lender.
  2. Title Company they like to work with.
  3. Tax Accountant.
  4. Tax Lawyer.
  5. Estate Planner.

I am sure the list could go on and on. Hopefully someday we will need to add to our Financial Team.

When building your own Financial team, you don’t have to go with your first one you meet. You may have to kiss a lot of frogs till you find your Financial prince for your team. LOL

How to Find

How to find team members we like to get references from our like-minded friends. They are people we can trust them. Then the people they refer to us we do some research on them also. We ask around to other friends also.

Before we meet with them to see if they would be a fit for us, we make up a list of questions that we want to ask them. We have also asked some of our friends what they look for in that Financial Team position.

 Who do you have on your Financial Team? How did you find them? Do you think it would be helpful to have a referral list by State? What titles are on list Financial Team?

If you are married, I would suggest that you remember the “We” in marriage. I feel if you are married that both of you should be a part of building your Financial team.  We both need agree and feel good with who we work with or we keep interviewing until we both are. If you are single and want a second opinion maybe take a trusted friend with you when you are interviewing people for your team.

We want to hire experts in each area to not only protect us and our assets but also so we can spend more time building our wealth and having fun. Our main focus with this is so that they make more informed choices and live debt free during their life if possible. Our dream is that all of our kids will be Financially Free when they are adults.

Quotes


Here are two positive quotes I like; “There is no way to happiness; happiness is the Path.” By Buddha

“Change Your Thoughts – Change Your Life” by Wayne W. Dyer

Let me know your thoughts about this blog and let me know of others you would like me to do in the future. I feel we can all learn from each other. That is why I am in the helping people retire early, enjoy life more and be more successful. Also, please see my Disclaimer page.

Don’t give up on your dreams; don’t let others talk you out of your dreams. Make your dreams happen. Make it happen today.

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