This blog is a prelude to a discussion that will take place on October 20, 2022, by DeBorah Gant, Behavioral Financial Advisor (BFA), of Guiding Life Financial Group. In this blog, we will give a little bit of insight into her journey as a financial advisor, her general principles of being an advisor, and a preview of some of the points she will be discussing in a Zoom webinar on October 20th.
DeBorah’s Journey to Financial Planning
DeBorah career in financial advising started as a client in 1984. As a client, she learned how to go from living check to check, to begin able to save for her retirement. After she began saving, she realized how much of a difference it made in her life and thought that it should be shared with others.
With a bit of what she considers Divine intervention she found herself being recruited into the financial advising industry. After two years as a client, along with a lot of study of finance courses and certifications, in 1987, she made her beloved industry, financial advising a full-time career.
As a full-time financial advisor, DeBorah advanced quickly into management and received multiple awards. She recruited and trained a number of new advisors while being able to do the work she loves, which is working directly with clients and businesses for more than 25 years.
DeBorah’s Approach to Serving Her Clients
One of DeBorah’s biggest tools to help her clients in their financial advising is her ability to listen. She listens to her clients to determine what are their goals and values. After learning her client's goals and values, DeBorah uses them to guide the financial plan that puts together to help her clients achieve those goals. Some clients’ goals involve retiring at a certain age, while others may involve leaving an inheritance for their children and grandchildren. Regardless of their goals, she uses their plan to help them achieve those goals.
DeBorah’s Biggest Piece of Advice
As a behavior financial advisor, DeBorah advises her clients to do a wide range of things. However, when asked if she could only give one piece of advice, she advises to pay yourself first, which means before you spend your income, use the 80/20 rule. The 80/20 rule consists of giving 10% to your Divine provider, and another 10% towards your savings/investments so it works for you and living on the remaining 80%.
She notes that money in savings can be used for short-term items, like weddings, bills, and other life happenings. Investments are for longer-term items, usually 3 years or more, that help keep or improve your lifestyle. When you make these payments first, it leaves your account before you have a chance to notice it and it doesn’t take long for this money to grow into a sizeable amount.
She expresses to her clients, “Managing risk is crucial to a sound planning strategy”. DeBorah is also known for saying, “Make your money work for you so you can eventually stop working for the money” along with “Be the Master of your money, not the conduit”.
Upcoming Webinar
Join DeBorah and her two fellow advisors at Guiding Life Financial Group on October 20, conducting a 30-minute Zoom webinar on “5 Steps to Survive Volatile Markets.”, You can register for the webinar by clicking on this link.