Chimorel’s
735 Training Module
Headed Your Way
This training module can easily consume 25+ minutes of you valuable time, so if time is limited return to our 735 Introduction. If you are a Resource Developer, this is one area you want to understand very well. When you are ready to make the commitment, you will learn about an incredibly powerful program that can transform your life and be there for the rest of your life. The door is opening. Make the commitment to walk through. Transform your life and make a serious impact on the world.
Start by clicking the 735 Stories. You will shake hands with Business Development, Mye Church and Action Delinq. You will spend some significant time with Youra Client and the Typicals.
Then click the link for Step by Step Financial Planning. You might also investigate Comprehensive Planning. You will focus first on Career Developoment and Training, then Resource Management, then Risk Management, then Investment Strategies and then Satisfaction Planning. You will have the opportunity to discover that Chimorel’s Step by Step Financial Planning can be much less expensive than Comprehensive Planning and most likely will enable you to implement your lifetime goals more effectively.
Now click Chimorel Cooperataive. This program opens a huge door to significant savings. When combined with Chimorel Bucks and Raise Right, we teach you how to develop your resources to have significantly more than you can obtain with your current paycheck. The Chimorel Cooperative is developing. It opens a door to an income opportunity for the right people.
Is the 735 Plan the only Way?
Our 735 Plan is the most cost effective way to achieve significant goals through Chimorel. We can provide support in other ways. If you compare our 735 Plan to Comprehensive Planning or other thorough financial planning methods you are likely to find that the 735 Plan is significantly less expensive and more comprehensive.
You work on your goals at your own pace with structure, guidance and targeting support from us. Because you do much of the research and analysis by learning what to do, you can reduce your costs significantly. As you support others, you earn the right to ask for their support. When they support you, you reduce your costs. As you establish your long term commitment through your 735 Plan, you reduce our costs and we give you a discount from standard fees. You read, learn, plan and execute. We hold periodic reviews. You volunteer, we grow together and we can serve you better. We will support you with Life Long Learning, Individual Support, Organizational Development and Financial Guidance.
Life Long Learning: Ongoing Information
Through our Cooperataive Effort program, Change Your Life Meetings, Training Modules, service opportunities and other avenues, we intend to provide you with an ongoing learning adventure that never ends. We have had seminars with talented speakers. You can buy books at a discount. We will have subscriptions and magazines available through our Shopping Mall. As interest in specific topics develops we will create interactive planning packages. We will constantly encourage you to step into and strengthen your commitment to a long term planning process. Through periodic reviews you will take steps to achieve personal and financial goals. We will have members and affiliates who can provide support.
Life Long Learning: Training Modules
Currently on our website there are free training modules. More will be developed. You can participate in their development. These training modules expect you to make a commitment. This discussion of the 735 Plan is one of the training modules currently available.
Life Long Learning: Planning Packages
We currently have Create a Career, Home Builder, Get out of Debt and I Got a Job programs ready or almost ready to step into. We anticipate developing “Retirement & Social Security”, “Death With Dignity”, “Stock Tracking” and other planning packages. These planning packages will become more and more interactive to encourage you to achieve your goals, expand your skills and abilities, and add value to your life. The cumulative information in these planning packages will go far beyond any Comprehensive Financial Plan you could get involved in. Planning Packages will range in cost from $49 to well over $10,000. They typically will have a cost to created value ratio of three to ten times, meaning that if you spend $10,000, we expect you to create a value for yourself or others of $30,000 to $100,000 as a result.
Life Long Learning: College Bound
We currently have at least four ways you can develop the resources to pay for college: College Bound program, Guaranteed Scholarship, I Got a Job and finding employers who will pay part or all of your tuition. Once you dig into the details, there are benefits and ways to completely pay for your college education without creating an overwhelming life long debt.
At the same time, it is important to realize that not everyone needs to or should go to college. You need to develop skills which will give you the ability to support yourself. More importantly you need to develop the mindset and discipline to become all that you can be. Skills, mindset and discipline are all things that Chimorel programs will support you to develop, but you must make the commitment to actually make it happen.
Individual Support: Groups, Training Sessions & Seminars
Groups are less expensive than individual coaching and the expose you to a broad base of support and experience from those participating in the group. Under the right circumstances some groups at Chimorel can come with no out of pocket cost. Some of the programs that provide group experiences are Create a Career, Change Your Life, I Got a Job and Client Assistance.
Some groups that you may want to create could be Active Parenting, Investment Club, Cash & Time Management, Risk Management, AA / NA, Bible Study, Weight Loss, seminars and short courses.
Individual Support: Volunteer/Paid Work Experience, Chimorel Bucks, Special Project, Taxes
Volunteers at Chimorel earn special perks. As you support others, you will discover ways to reduce your out of pocket costs and can earn Chimorel Bucks. When you learn how to use the Chimorel Bucks concept (inside / outside of Chimorel) you can more than double your resources. You can spend Chimorel Bucks at auctions and elsewhere in Chimorel’s programs. If you understood our discussion about $100/hr, you discovered that you can barter and reduce your taxes. Chimorel Bucks are currently valued at $10/hr when a specific value is needed, but most people prefer to use them as a general way to be thanked for service rendered. This reduces or eliminates taxes. When a friend helps a friend without expectation of a direct return it is not taxable. If at the end of a long day of work your friend gives a pizza party, it still is not taxable. If you and your friend agree to exchange a specific number of hours, it may be taxable, but at a barter rate that may be less than your normal hourly rate.
Chimorel programs frequently start by expecting you to volunteer in exchange for work experience and training. When you receive something of value as you grow in a program, like money or paying your cell phone bill, it most likely is taxable, but at $10/hr, even if the value you create for Chimorel is $25/hr or $50/hr. So you earn one Chimorel Buck per hour, which you can exchange for something you need valued at approximately $10, even if retail value is higher. Paying a cell phone bill is taxed at the value of the cell phone bill, but receiving a cell phone that was donated to Chimorel is not taxed at the rate of a new cell phone. And if the value you receive is less than $600/yr we don’t report the earnings.
You pay $250 for an Action Planning membership and create a $10,000 Special Project. Then you ask ten friends to give $1000 to your Special Project. They each get a 735 Plan membership and create their own Special Projects. Chimorel gets $1000 for one of its Special Projects. We write a check to the car dealer for a new car or to your college for your tuition or for some other need. Your friends receive a $1000 tax deduction, if their Special Projects are altruistic. You don’t pay taxes on their gifts. They don’t pay gift taxes on a donation under $15,000. You probably did pay taxes on the $250 you earned to pay for your membership.
Individual Support: Individual Coaching, Telephone Support
Sometimes your friend just needs to talk to someone. You are a good listener and become part of our informal network of telephone supporters. Initially, you volunteer. After your skills are tested, you are paid. Once they have enrolled in our Telephone support program, someone calls for support. You return the call and listen as they explain their concern or problem. You are aware of Chimorel’s memberships and programs, as well as, our network of experienced coaches, counselors and planners. You make referrals as appropriate. Your skills develop, you receive training, and perhaps you join the coaching network. You know how to encourage the people you support to achieve their goals. You are one of the most valuable parts of our support system.
Individual Support: Entertainment, Other Programs
Yes, let’s have fun while we support each other. The Sanctuary is a place where you come to find peace, inspiration and empowerment, imbued with a sense of adventure. We will have potlucks, bonfires, birthday parties, exciting and informative events, auctions, fund raisers and are open to your suggestions. You and your family can add to the fun and adventure as you build our climbing wall and labyrinth. We have or will acquire a trampoline, bounce houses and a variety of outdoor games. You can fish, walk in the woods, camp and swap stories and good food.
Individual Support: Professional Advice
Professional advice is the most expensive part of our support system. If you need professional advice, you can plan for and take steps to reduce the out of pocket cost. You can write your own will, then have it reviewed by legal counsel. You can anticipate the need and plan to pay the cost of health insurance. By planning in advance there will be many options to receive the advice you need. Be aware, however, that free advice is probably worth about what you pay for it. Avoiding professional advice when you need it is probably the most expensive option.
Organizational Development: Business Incubation
Once you are running a successful business, you can provide jobs and can create entrepreneurial opportunities for your employees, using an ESOP, managerial coaching and other strategies which will enhance your bottom line. We will teach you how to create a ground floor investment opportunity where you and your employees remain the majority owners. Here are some brief thoughts that you can expand on as your 735 Plan morphs into a 2100 Plan, then a multiple 5000 Plan.
a) Start with seed capital of $5,000,000 or less. b) use preferred stock and/or bonds with put, call and convertible features. c) Take your investors out or partially out in about two years. d) Provide a 12-20% annual return with a call requirement. e) Create an Employee Stock Ownership plan to acquire at least 50% of the convertible preferred stock/bonds outstanding. f) Go public with less than 50% of your stock with you and your employees retaining the remaining 50+% of the stock. Convertible preferred stock and bonds do not provide voting privileges until converted. When you and your employees take out the preferred stock prior to being able to convert, you retain ownership.
Work with Chimorel to learn how to use an ESOP, establish an entrepreneurial management coaching program and other strategies to motivate your employees and keep your investors happy. Pay for at least part of your fees by donating your computers and other assets, hiring our job ready trainees and becoming seriously involved in many of our programs as a Sponsor, employer, donor, etc. When your employees self-interest is similar to yours and your investors, good things happen. Your business can become a community oriented, socially responsive venture. You will make more money. You can own a substantial stake in your company. Your employees will have your best interest at heart, because when you make money, they make money. Nuff said for now.
Organizational Development: Business Development
Using the Start or Strengthen aspects of our Business Development coaching, you can take your existing business and move it to new heights. You will discover a very strong social service flavor to our assistance. We will focus on long term profitability, community impact and a little less on this quarter’s bottom line. You will also discover that truly successful businesses do the same. You will blow through our 2100 Plan into a Multiple 5000 Plan and not look back, because your profits are steadily increasing and you are prepared to weather down turns in the economy. To do this you must move away from a dictatorial management style and be open to creating an entrepreneurial mindset in your employees.
Organizational Development: Nonprofit Fund Raising
We anticipate bring a slightly different perspective to your fund raising. When a typical fund raising event may take one year to plan and implement, we believe you could do it in 3-6 months, if you get organized quickly. We expect you to get your clients and the people who are concerned about them to get substantially involved. You can use things people tend to throw away as one source of funds. We will jointly host meetings and events. We will use a wide range of typical, known strategies, and may bring a few relatively rare concepts to play, as well.
Let’s start with at least ten people who are committed to your program, better 25-50 people. 50 volunteers can get a minimum of five people each or 250 participants. 250 people times $200 = $50,000. Using high value items and many other strategies we will teach you how to earn a minimum average of $200/participant. Let’s ask at least ten people who are genuinely concerned about your mission to become 735 Plan altruistic members. As you build your volunteer team, ask ten people to donate $100 to a Chimorel Special Project. This commits us to assisting you to raise a minimum of $5000 for your project. Use our Fund Raising training to establish you own fund raising campaign or join with us as a nonprofit affiliate to raise any amount from $50,000 to over $1 million per event.
Financial Guidance: Opportunity Knocking
Why is it that so many people do not achieve their goals? Procrastination, crises, no money, no time, no motivation, too busy, too tired? So let’s assume that you have plenty of time and money, that you rarely procrastinate, that you are an excellent crisis manager and that you consistently achieve your goals. Shall we transform your knowledge and happy, productive life into supporting others to do the same? We need your skills and so do lots of other people. Not there yet? Chimiorel’s 735 Plan enables you to target improvements you want to make.
Financial Guidance: Investment Strategies
You need a solid retirement plan. There are lots of reasons for you to decide to be in control of the growth of your money. You can also decide to entrust your financial future to others. If you choose the later decision, think carefully. Once you learn the appropriate investment strategies, you can control your own financial destiny by spending approximately 15 minutes on a regular basis. If you entrust someone else with your financial future, be very careful as to who that is. Through your 735 Plan you can learn a great deal about investment strategies and control your own destiny.
Financial Guidance: Financial Planning
Financial planning must become a long term, ongoing part of your life. If you allow your financial future to drift with the wind, the wind will most likely blow your later years into the uncomfortable desert of scarcity. Chimorel’s 735 Plan if started early can avoid this scenario. Even if you are well along in years, through Special Projects you can develop the resources needed to live a comfortable life and to support your relatives who are now struggling. Recognize that what we are discussing is significantly different from a Comprehensive Plan. Let us suggest that the initial focus of your 735 Plan should be Step by Step finical planning.
You may appreciate being able to save by getting advice when you need it, but by doing as much as you can yourself. You may not earn $100/hr, yet. If your taxes are like Warren’s (largely self employed), you could pay a little over 50% of what you earn to Uncle Sam, the state, FICA, property taxes, sales taxes, etc., if you are not careful about how you structure things. Chimorel’s 735 Plan to allows you to plan and to save in many other ways, as well.
The discussion that follows explains much of the thinking behind the 735 Plan structure. The discussion may be a little complex and confusing. You have a right to know the details, but pass if you don’t want to take the time to get the full picture. In our 735 Plan stories, Action’s parents did not understand the details. Youra eventually got the big picture, but at the beginning she just needed some significant support. Once again, you do not need to understand how the plan works or what the tax implications are. Simply focus on your goals. Before we move on to Tax Implications, let’s look briefly at bartering & $100/hr.
$100/hr
Above we briefly mentioned not yet earning $100/hr. It may have seemed a little out of context. $100/hr for a normal work year is $200,000. We believe that everyone who gets serious at Chimorel can learn to generate at least $50,000/yr or about $25/hr. We credit those who work with our board at $50/hr in Chimorel Bucks and believe that $50 in Chimorel Bucks can generate $100 value for you. Within this range of $25 to $100 you will find a comfort zone, depending on how hard you want to work and your skills and abilities. As you move to the higher range and beyond, taxes become more significant.
Bartering is taxable. Within reason it is also negotiable. A $350/hr CPA or attorney could discount his/her normal fee to say $50/hr to support someone in our program if that oerson did something to support someone else or to do their own research. Two professionals could agree to discount their fees to a lower value because they were working cooperatively together (perhaps through a Chimorel program.) Reducing your fee or bartering lowers the taxes that must be paid. An attorney could work Pro Bono, but charging $10/hr might be questioned by the IRS, not appearing to be reasonable.
Tax Implications
Now let’s turn our attention to Focus Dollars, Cash, Focus Hours and Service Hours. This gets a little deep, so pass or re-read if you get confused.
Focus Dollars
Focus Dollars encourage you to focus on your needs and to plan in advance. They attempt to ensure that if you need professional services or other resources that these services and resources are available to you. They encourage you to do as much as possible for yourself. Planning in advance enables Chimorel to enable you to negotiate discounts and use other strategies to reduce your fees. Payment alternatives include:
- Cash in advance or monthly payment plan.
- Work or commissionable transactions as agreed.
- Work for Chimorel. A portion pays your fees, the remainder meets your needs.
- Your accomplishing goals which lead to commissionable transactions.
- Work you do which reduces the need for professional time.
- Completion of Focus objectives, Chimorel questionnaires and related forms.
- Barter as agreed.
Most Focus dollars are taxable. If you do work for Chimorel you pay taxes on the money earned. Some Focus dollars are not directly taxable, for example, when your fees are offset by commissions from an affiliate. You may pay taxes on the money you earn that you use to pay an affiliate, but you are not taxed again when our commission offsets your fees.
Focus dollars usually have a tax advantage. If you earn $100/hr, Chimorel’s pay rate on Focus Dollars is approximately $10/hr; therefore, you have a tax advantage. At the same time you are not earning your normal pay rate. If you earn less than $10/hr you might have a small raise and a small tax disadvantage.
Chimorel does not report taxable earnings of less than $600. We do report earnings of more than $600. Depending on whether you are considered an Employee or an Independent Contractor, Chimorel will withhold taxes on your earnings or expect to pay your own taxes. Most of the time you are likely to be an Independent Contractor.
Cash
You pay taxes on the cash you spend at Chimorel, just like you do anywhere else. But paying cash in advance gives you a discount from normal fees. You don’t pay taxes on the savings you receive, just like you don’t pay taxes when you save money on merchandise bought on sale. You do pay taxes on cash received from Chimorel in various circumstances, as explained under Focus Dollars.
- Cash payment in advance.
- Monthly payments, mutually agreeable schedule.
- Part-time work (after taxes) applied to fees.
- Commissions / donations from affiliates applied directly to fees according to a mutually agreeable ration with the planner involved.
Focus Hours
Payment alternatives include:
- Doing something for yourself that reduces the amount you would have to pay someone else.
- Volunteer / low pay for Chimorel or affiliate nonprofit.
- Donate to Chimorel or affiliate nonprofit.
- Fund raise for Chimorel or affiliate nonprofit.
- Purchase through Buy Stuff.
- Exchange or discount of professional services you provide to others.
- Making active referrals without compensation..
You support others or yourself. As a result, your confidence and skills improve. No tax, but potentially very valuable. You grow and you earn the right to ask for support when you need it. If you volunteer to help a friend, your friend pays no tax. if your friend volunteers to support you, no tax. If you and your friend exchange services and put a value on the services, taxable. A friend helping a friend, no tax. Putting a value on the services or trying to make the exchange equal, taxable. Of course, the things you do for yourself are not taxable.
Focus hours mean in part that you are doing something for yourself that you would otherwise pay someone else to do. To pay someone else, you must first earn the money and pay taxes on it. You don’t pay taxes on the time you spend doing things for yourself.
For many services we assign an hourly value. If someone at Chimorel did the task, you would pay the hourly price for that person. When you do the task the assigned hours are designated as completed Focus hours mean the task is complete. If we had to spend the time encouraging, reminding, etc, there would have been a fee. The Focus hours in this case are in effect savings from fees that might have been. Once again, no taxes.
Low pay is taxable if over $600. Compensation for fund raising is taxable. Purchases are not taxable. Discounts are not taxable. Compensation for referrals is taxable.
Service Hours
When you support someone without pay, you provide valuable support that reduces our costs. Your uncompensated concern may even be seen as more valuable to that person than a paid person’s time might be.
- Volunteer / low pay work for Chimorel and other qualified organizations.
- Donations to Chimorel and other qualified organizations.
- Fund raising for Chimorel and other qualified organizations.
- Purchase of Chimorel products through Buy Stuff.
- Exchange or discount of professional services you provide to others.
- Making active referrals and following up.
When you support someone else as they achieve their goals, you are enabling Chimorel to achieve its primary purpose. This has several effects. First, if we had to raise the money to hire someone to do what you did, it would require the resources of both a fund raiser and the person who did the work. By doing it yourself, you make the process more efficient. Second, when you support someone else, we are grateful and as a result offer you a lower fee for the service provided.
A direct example of this is Youra’s 30 hours of counseling. Billed at $100/hr, she would have paid $3000. For 30 service hours she receives a 50% discount. This means that the person (associate) providing the service will make $50/hr or less, depending on their agreement with Chimorel.
Another example is the attorney (affiliate) who agreed to reduce his fee if Youra agreed to ten service hours. As Chimorel establishes affiliate and associated relationships, this kind of relationship is part of the initial negotiation. You don’t pay taxes on discounts and fee reductions. You do save money that you don’t have to earn and pay taxes on.
Summary
$c Cash Dollars involve payment with money you earn and for which you pay taxes.
$f Focus Dollars involve payment with money that is tied to achieving a Focus objective.
Hf Focus Hours involve hours you spend on your own achieving Focus objectives.
Hs Service Hours involve hours you spend supporting someone else.
Contributions used to offset service hours.
Payment Alternatives | Focus | Service | Cash | Comment |
Cash in Advance | na | na | $c | Discount or bonus available. |
Monthly Payment | na | na | $c | No interest if paid on time. |
Work – paid | $c | $hr | $c | Cash dollars and Service hours $10/hr |
Make active referrals | $f | $hr | $c | Cash $, Focus $, Service hours. |
Donations from Affiliates | $f | na | $c | According to mutually agreeable ratio. |
Barter | $f | na | $c | Tax advantage possible. |
Client assistance grant | $f | na | na | Must meet qualifications. |
Buy Chimorel products | $f | $hr | na | To achieve your objectives. |
Work – volunteer | Shr | $hr | na | Support others / Chimorel. |
Complete objectives | Fhr | $hr | na | Achieve goals, support others. |
Exchange Professional Services | Fhr | $hr | na | Achieve goals, support others. |
Donations Given | $f | $hr | na | You are busy & have money. |
Donations Solicited | na | $hr | na | You are busy, support others. |
Now I’m Really Confused
You don’t have to understand. You really don’t have to understand all of this. Everything will happen automatically. Because we believe in full disclosure, we provide you way more detail than you need. If you are confused, shake you head, set 1-3 goals and we’ll take it from there. We’ll support you as you set goals, clarify your goals and develop action plans. We’ll guide you to the most effective payment plans each step along the way, based on where you are in life. We’ll provide you with the tax implications when they are appropriate.
Bill and Martha are a hypothetical example, similar to the 735 stories. Their initial focus is on Risk Managment and Investment Strategies. They enter into a monthly payment plan and pay for almost 50% of their initial $735 by making active referrals and building a Raise Right network. They volunteer 75+service hours at the Sanctuary helping to build our climbing wall, labyrinth and the addition to the Studio.
At one of the first periodic reviews, Bill decides to find a new job with an increase in salary and a solid pension program. Through our Create a Career program he finds a job within 8 weeks, almost doubling his income. We guide him to an appropriate insurance program (life, health, etc.). They set a $10,000 emergency fund to cover a variety of
potential losses and we help them fund this goal with a Special Project. They get their children involved in setting money aside for college. Over time they plan for and build their dream home. Through the Chimorel Cooperative they redecorate their home, saving $10,000 on appliances, furniture, etc. They create a vacation plan they can will to their children. They establish a $1.2 million retirement plan, partially funded by Bill’s pension plan, supplemented by additional Roth IRA contributions. They continue to volunteer and contribute to Chimorel and bring several of their favorite charities into our auction program.
You enter Chimorel’s 735 Plan by making commitments regarding your time, your money, your focus and your service.
You set your initial time and focus commitments. Chimorel sets a minimum of $735 and 75 hours of service for an individual / family membership and $2100 plus 210 hour service by your employees, your constituents or your customers. You step up to a $5000 with a $5000 cash payment and might also make a service commitment, as well. You allocate the cash and service commitments to meet your objectives, to support others or as contributions. You increase your commitments as you choose additional services.
You make your commitments in the form of an agreement. If your commitments become burdensome you might revise or terminated your agreement; however, revising / terminating for frivolous reasons or because it is hard is strongly discouraged. You are making an ongoing, long-term commitment. If you need a break once in a while, no problem.
Once again, you can focus on your objectives or on supporting others. Most likely there will be some of each. You will develop an initial action plan for each goal. We will ask questions to enable you to determine your needs. Your cash, focus and service commitments will be determined by those needs.
As you honor your commitments, we will provide you with the services you need to achieve your objectives. A sample Agreement is available. When your 735 Plan focuses on supporting others initially you can change to focus on you and your family later. Supporting others is typically tax deductible. Focusing on you is typically not tax deductible.
Sample 735 Plan Agreement
Welcome to Chimorel’s family of 735 Plan Members. This letter of agreement confirms you decision to enroll in Chimorel’s unique 735 Plan. You are making a commitment to a long term planning process designed to enable you to achieve specific goals and to support others. You agree to actively work on achieving your goals starting on the date of this agreement and continuing for your lifetime or at a minimum for one year.
Your immediate Focus will be to enhance your current job and improve your cash management. Your Focus will change as you make progress on achieving your goals. Your current goals and action plans for each goal are established with one or more Supplements / Specification Sheets (Supplement). As you achieve one or more goals, you will set new goals for yourself, for those you care about and to support others you may not yet know. When you have paid a minimum of $735 and completed 75 service hours, you will receive a Lifetime Family Membership for the two adults signing below and all registered children up to their age of 18.
You and your refer to the person or persons signing this agreement. We, our and us refer to members of Chimorel and their staff. Chimorel consists of Chimorel Services Inc (nonprofit and Services) and Chimorel Group LLC (for profit and Group), as well as their staff, associates and affiliates. Specific services to be provided and our fees are detailed on a Supplement and may change periodically by signing a new Supplement, all of which are attached to this Agreement by reference hereby.
Your Agreement includes your goal and action plans, all Supplements, the Friendly Understanding below and all agreements for services now or in the future. You agree to pay for all services provided in the manner detailed on each Supplement and in separate agreements according to the terms specified therein. Any misunderstanding will be discussed and resolved by mutual agreement. The Executive Director of Chimorel is the final decision maker. Should you choose to arbitrate or litigate any issue, you will be responsible for all attorney fees for both sides and all court or other related costs incurred. This agreement follows the law in Ohio.
Friendly Understanding
We may ask you to furnish us with complete and up to date information about your personal, financial and investment circumstances and objectives. We may ask you to complete one or more assessment tools. We will provide information forms, questionnaires and checklists. Typically, this information is gathered one step at a time according to your expressed objectives. We call this Step by Step Planning. You could request to expedite this data gathering; thus intensifying the need to gather a lot of information in a short time, but we recommend taking a much more relaxed approach, one step at a time.
We may ask you to clarify information you provide in interviews with us, through phone conversations with our staff and through correspondence. If at any point you are not certain about something that is happening, you are encouraged to discuss your concerns with us. We ask you to notify us of all changes in your circumstances and objectives. Keeping us informed will enable us to provide you with the recommendations, advice and assistance which is most appropriate for you.
If at some point you don’t take the actions you need to take, we will encourage you to continue, but you have the right to slow down or stop. You can choose to stop. After seven days from the date of this Agreement, no refunds will be provided. If you choose to stop, all services paid for but not used will become an Altruistic support for someone else. After stopping, you may restart by entering into a new Agreement.
All information given to us and all assistance furnished by us to you will be kept confidential and will not be disclosed to anyone, unless you consent to its disclosure in writing or we are required by law to provide it. You may request copies of your plans be provided to other professional advisers.
As your information is assembled, you will analyze your present financial and personal situation with our guidance. At your request, your analysis can include a review of your assets and liabilities, your current and projected income, your cash and time management practices, your current insurance and risk management program, your investment portfolio, your employment, your business, your social concerns, family, health and other issues, as well as, other concerns as appropriate.
Periodically you will receive supplementary information, analysis and recommendations designed to assist you with achieving your personal and financial goals. Such supplementary information, analysis and recommendations, taken together, are our “recommendations” to you. These recommendations may refer to such things as alternate sources of income, employment changes, business coaching, holding or sale of securities and other assets, your projected income and cash flow, projected tax consequences, retirement planning, estate planning, insurance planning, health concerns, social issues, personal issues or family issues. It is important that you act on these recommendations to achieve your goals.
Our recommendations will be provided on the basis of the written data provided by you and will consider your stated personal, social, family, financial and investment objectives. Sometimes these recommendations will be verbal. Frequently, it will be appropriate to write these recommendations down. Please be sure to use care in providing the data detailed on your information gathering forms and spreadsheets.
After you have received our recommendations, follow through will consist of 1) working with your other advisers and counselors, 2) attention to completing forms and agreements to accomplish your objectives, 3) implementing your plan by executing transactions and taking action steps and 4) specific things you do to achieve your goals. It will be your decision alone to implement the recommendations we make. You are not obligated to make any purchase through our associates. You may select any brokerage firm, insurance / real estate agent or other vendor to implement your transactions.
Under this Friendly Understanding, your planner is not authorized to give legal advice or prepare documents for you. Under your Membership Agreement, your planner is not authorized to prepare or amend the filing of income, gift or estate taxes for you. You should consult with your attorney and accountant for these services. Chimorel is not authorized to act as your Trustee. You should select appropriate individuals or trust companies to provide these services. On your request we will provide you with a list of attorneys, accountants, trust officers and others, which may include members of our staff, associates and affiliates. We will disclose to you information which could have an impact on decisions you make regarding people we refer to you.
Supplement Example
A Supplement can take on several formats.
One format would be to specify the goal and develop an action plan.
Another format might be the details of a construction project, a marketing plan
or an insurance / real estate contract contract.
Below we use the goal and action plan format to help you enhance your current job.
Another Supplement might be written to improve your cash management.
Your name, phone and address
Goal: To increase my income by $10,000 this year.
Situation: My current income is $60,000. I want to increase this to $70,000 this year and to continue to increase my earnings in future years. I work as a Sales Manager for XYZ Inc. If I achieve you goal, I will add $100,000 or more to my earnings over the next ten years.
Focus: To enhance my current job and improve my cash management.
Action Plan
- Review my existing compensation. Clarify with my supervisor the specific sales targets required to achieve my goal.
- Establish sales targets with my sales people and determine my own level of sales needed to exceed my goal.
- Develop a time table and specific action plan with each sales person. Review actual accomplishments weekly.
- Develop a time table and specific action steps for my steps which exceeds my portion of my goal. Review weekly.
- As I and my sales people begin to exceed our target, revise our original goals and establish new stretch targets.
- If I and my sales people do not achieve our weekly sales targets, determine problems and revise our action plans.
- Work with Chimorel to uncover strengths and weaknesses which can enhance or hinder this action plan.
- Work with Chimorel to build on my strengths.
- Work with Chimorel to reduce, strengthen or eliminate my weaknesses.
In consideration of the assistance Chimorel will provide in enabling me to achieve my goal, I will pay $35 on signing, then $100/mo for seven months. I will also volunteer a minimum of ten hours per month for the next eight months to support others. I agree to the above specifications, to the provisions in the 735 Agreement and to the Friendly Understanding on this date, <<date>>.
Your Signature
