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Holisitic Wealthcare

11/19/2018

Introducing Holisitic Wealthcare

Holistic Wealthcare starts where traditional financial planning reached its limits. A breakthrough in the field of finance, Holistic Wealthcare merges behavioral economics and ancient philosophy with the technical aspects of financial planning to address complex problems measured by non-financial outcomes- instead of strictly dollar denominated metrics.

Stated simply, it’s not just about “the mighty dollar”, but instead, the effects and outcomes wealth can produce. In other words, HWC explains why some “rich” people seem unhappy and examines the method and means to correct this before it happens. This new way of addressing problems is reserved only for those individuals who already understand that money and wealth is not the true answer to a fulfilled life and lasting happiness. Wealth can be a means to happiness but not when it is intended as an ends.

The field of finance and investment management may sometimes miss this point because they have answered the wrong questions to address the wrong problems instead of asking and addressing the right ones. Many of the problems that naturally follow in the path of wealth creation and transfer go unnoticed or ignored. These are the problems we uncover and address with Holistic Wealthcare.

D. Scott Bloom, CFP
iScott

Why the Question is More Valuable than its Answer

11/13/2018

San Diego CFP Financial Planner iScott Bloom

D. Scott Bloom

Why the Question is More
Valuable than its Answer

The right answers to the wrong questions are incorrect. This is the perfect time to point this out
amidst the era of ‘fake news’ and the increasingly unreliable nature of Internet search results.

Try not to let this sound silly or insult your intelligence. Because if you think about a few
examples, you’ll see how this is a more common, yet subtle dilemma happening all around us,
everyday. In the process of trying to solve our doubts we are sometimes increasing them and
this may be happening right under our noses.

True or false: Almost everywhere we look, many people are quick to offer their answers or
solutions (ie: their informed opinion) to the world’s problems, the direction of the economy or the
outcome of next election. To be fair, an ironic example is my opinion of this dilemma is itself.
We see it on cable news shows, hear it on talk radio and read it on social media post replies:
Many are quick to offer their correct answer but few point out the correct or alternate question.
(For instance, like I am doing right here)

Current examples of possibly wrong answers to unvalidated questions:
Answer: Our education system can be fixed by doing Z.
Correct question: Which system exactly and what specific problems?

Answer: The solution to the immigration crisis is X.
Correct question: What is the immigration crisis exactly?

Answer: The best sector in economy right now is Y.
Correct questions: What does “best” sector mean, and to whom?
Is it the fastest growing or the most consistently growing? Or is it the one with the furthest to
grow? Why does defining it matter?

Answer: The best way to invest my 401(k) is X
Correct question: Have I made the maximum contribution yet? Do I consider employer matching
to determine this?

Pay a little attention this week in your environment and think about the abundance of answers
floating around and the relative scarcity of “correct question alternates”. In other words, look to
see who or what is questioning the questions. How this applies to our daily decisions is at least
as important as it is to our financial decisions.
Pointing this out is something I do to help my clients.
D. Scott Bloom, CFP

What Really Matters & Why

11/7/2018

Wealthcare financial planner, holisitc wealthcare

What Really Matters & Why
If you think about the infinite amount of information we have at our fingertips today, it’s seems overwhelming that we have to pick and choose what information really matters to our biggest decisions. In other words, what information is both reliable and relevant? How do we do this? Is there some method or system to test and validate the “stuff” that really matters?

In the context of financial planning and investment strategy, what really matters to our next important decision can vary widely depending on how we filter and process information, including identifying our influences and bias. Do we consider everything we need to? Do we exclude the information that doesn’t matter? Do we always consider our own inherent biases?

Looking in the mirror and being very honest with myself, the answer is usually no.

In my professional practice helping clients through the process of deciding some of life’s most important financial decisions, I’ve had to develop a systematic process to filter and test all of the raw “info-gredients” into well-refined, validated information we will use, together to make knowledgeable decisions. Over 20 years in this role, and from the dawn of the “information age”, I’ve had to evolve and adapt my skills to weed and sift through all the raw material.

This is relevant and you can relate to this when you see people making irrational decisions and these life mistakes transcend well beyond financial concerns. Immaterial factors can influence our decisions and usually weaken our chances of success, no matter how we measure it.

What is your process for refining information? Have you developed a disciplined process that you can strictly apply to almost any decision in your life?

Neither had I- until I did. The ability to extract usable knowledge from raw information is the most valuable tool I can use to help my clients.

D. Scott Bloom, CFP®

Holisitic Wealthcare

Why the Question is More Valuable than its Answer

What Really Matters & Why

D. Scott Bloom, CFP®
CERTIFIED FINANCIAL PLANNER™

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Holisitic Wealthcare

Why the Question is More Valuable than its Answer

What Really Matters & Why

D. Scott Bloom, CFP®CERTIFIED FINANCIAL PLANNER™

Archives

Categories

D. Scott Bloom, CFP®
CERTIFIED FINANCIAL PLANNER™