At DeGroff Financial we talk a lot about cash flow and the reason why is simple:
Without a solid understanding of a client’s cash flow, we would be building a financial plan on an unstable foundation. We can insure a client, invest money, build the greatest plan in the world—but all that work is pointless if the cash flow doesn’t allow us to implement that plan.
Cash flow is simply the inflow and outflow of your money. Money goes into your accounts, money goes out of your accounts. You spend places, you save in places, you invest and insure yourself. But many do not pay attention to all the places they spend money. Common financial advice will tell you to “skip that $5 coffee every day and you’ll retire rich,” or similar ridiculous anecdotes, but it doesn’t address the real issue, which is simply not having a feel for where your money is going.
At DeGroff Financial, cash flow is king. It’s more important that we learn how you spend your money than it is for us to just give blanket advice about it. When we learn how you spend your money, we can help assist you in the proper financial decisions to move your situation forward. You don’t want to live paycheck to paycheck for the rest of your life, and there are things you want to accomplish other than just working for forty years and then having some semblance of a retirement. You have a life and you should be able to live it now, enjoy it now, while also planning for the future and retirement.
Our job is to help you reach those goals and aspirations. To assist you in making the decisions necessary to become who you want to become. That’s what we do. That’s why we talk about cash flow.