Lately, I’ve been talking about MVPs.
First, it was the Minimum Viable Portfolio.
Then there was the Minimum Viable (Financial) Plan.
And today, I’d like to make it a trilogy – or threesome – of MVPs.
But this MVP isn’t about “minimum” or “viable.”
This one is your Most Valuable Purpose.
This is all about your “why.” You’re raison d’etre.
This isn’t about your money. This is what you want to use your money for.
These are your values, goals, and priorities that should shine through in your financial plan.
I can help you clarify and quantify this MVP just like I can help with the 2 previous MVPs we’ve discussed.
But this MVP is particularly fun and rewarding. And it’s crucial to making smart financial decisions for the right reasons.
We can get there by exploring some important questions and your answers to them.
But it really starts with having a great conversation.
Think of it this way . . .
Have you ever worked on a 500- or 1,000-piece jigsaw puzzle?
If you’re like me, you usually start with the edge pieces to build the “frame” of the puzzle and then start working on sections in the middle.
Maybe you start picking out all the blue pieces for the sky.
Or green pieces for grass and trees.
But it’s very difficult to make real progress on a jigsaw puzzle without looking at the picture on the box that all the pieces came in.
The picture on the box serves as an important guide and reference as you work to put the right pieces in the right places to ultimately complete the puzzle and see the results of your effort.
Your financial plan is no different, and your Most Valuable Purpose is your personal “picture on the box.”
Sure, you might have collected a lot of pieces over the years and maybe you’ve started with your own version of the edge pieces to start building your “financial frame,” but going beyond this point is a real challenge for many.
Because they haven’t invested time in identifying and focusing on their “picture on the box” that represents their “why,” their purpose, and their reason for working, saving and planning for the future.
So as we wrap up this mini-series on MVPs, I’d ask that you consider this . . .
I’ve introduced these in reverse order of importance and priority.
While many people and many financial advisors start with your money and investments, and a few start with a plan, the best place to start is with your purpose.
I believe it should be:
Not the other way around.
Otherwise, you’re trying to assemble a financial jigsaw puzzle without the benefit of having the picture on the box.
YOUR picture on YOUR box.