Focusing Step by Step
Chimorel’s Step By Step Financial Planning starts with the need to get and keep a job. Next, you learn to maximize resources like money, time, information and energy. Then you manage the risks in your life and to develop plans to fund the major goals in your life. Finally, you add value and satisfaction to your life by planning for college, retirement, travel, charity and whatever brings you satisfaction.
Step by Step Financial Planning is part of Chimorel’s 735 Lifetime Membership Plan. As you step into a 735 Plan, you bring your unique background, experience, dreams and abilities to the planning process. This is the reason it is important for you to choose the area(s) for your initial Focus.
To guide your Focus, Chimorel has established five sequential planning areas called our “Step By Step Plan.”
Formatting Your Focus
We will use the following format to help you think through what step is most appropriate for your initial focus:
- Reality Check = Your initial Focus might start with the first Reality Check that suggests an area to improve. You can have more than one Focus area, but be careful not to try to focus on too much at once. You will slow down, if you face an overwhelming array of things to do.
- Brief Description: Just enough to whet your appetite, but not all that a Focus area involves. We offer a launching pad for your creative imagination.
- Services To Consider: Special services will be provided (and developed) on an as needed basis. You are encouraged to make suggestions. You may even want to participate in developing (or marketing) a special service that is important to you.
- Payment Suggestions: Chimorel’s 735 Plan offers several unique ways to keep more cash in your pocket. Consider the fraction after each type of payment as a guideline. The types of payment are Cash, Work, Service and Transactions
Career Development & Training
- Reality Check = Are you genuinely satisfied with what you do and what you earn?
- Brief Description: Job search, resume writing, part-time/ temporary work, books to study, scholarships, work at Chimorel, Internet Search.
- Services To Consider: (1) Search websites with you, help you create and send a targeted resume. (2) Grant & Scholarship search. (3) Training in resume writing, interviews, search techniques. (4) Job referrals. (5) Employer job bank, (6) Career Development Course, (7) I Got a Job program.
- Payment Suggestions: 2/5 Cash | 2/5 Work | 1/5 Service.
Resource Management
- Reality Check = Money 1: Do you consistently save & invest 10% of your income after taxes? Money 2: Do you plan your contributions or give spur of the moment? Time & Energy: Do you have time and energy for the people you love and for supporting others?
- Brief Description: Are you maximizing the three precious resources of cash, time and energy with strategies like recycling, purchase techniques, tax & expense reduction, good nutrition, exercise and proper health care.
- Services To Consider: (1) Bill paying. (2) Credit management. (3) Cash & time management training. (4) Charitable and volunteer strategies, (5) Wellness strategies, (6) Budgeting/bill paying work sheet, (7) Yoga, pilates, strength training, diet, exercise.
- Payment Suggestions: 2/5 Cash | 1/5 Work | 2/5 Service.
Risk Management
- Reality Check = Do you know what your plan is for the major risks in your life?
- Brief Description: Life is full of risk. Identify your risks. Decide to reduce, avoid, shift or assume each major risk. Develop an ongoing habit to identify and manage each significant risk you encounter.
- Services To Consider: (1) Initial risk evaluation, (2) Development of risk management strategies, (3) Insurance, (4) Will & estate plan review, (5) Ongoing risk management evaluations.
- Payment Suggestions: 2/5 Transactions | 2/5 Cash | 1/5 Service. Note: transactions depend on many external factors, which may mean 4/5 Cash & 1/5 Service, if you only use Chimorel programs.
Investment Strategies
- Reality Check = Do you have a plan to fund the major goals in your life?
- Brief Description: Do you make your own investment decisions or hire professional management? Do you understand liquidity, investment risk & return ratios, security types, exchanges, insider regulations, asset allocation. Do you have an adequate retirement plan?
- Services To Consider: (1) Retirement Plan Estimate, (2) Review of current portfolio/investment strategies, (3) Asset Allocation Review, (4) Development of investment strategy alternatives, (5) Computer search of property records, mutual funds, all listed stocks.
- Payment Suggestions: 2/5 Transactions | 2/5 Cash | 1/5 Service. Note: transactions depend on many external factors, which may mean 3/5 Cash & 2/5 Service, if you only use Chimorel programs.
Satisfaction Planning
- Reality Check = Is life good for (1) you, (2) the people you love, (3) the world you live in?
- Brief Description: Success is the journey, not the destination. As you achieve some goals, plan new ones! Build the house of your dreams. Travel. Plan your estate. Retire comfortably. Get your kids through college. Make the world a little better because you were here.
- Services To Consider: Develop plans for (1) college funding, (2) traveling, (3) building or remodeling your dream home, (4) your estate, (5) charitable intentions.
- Payment Suggestions: 2/5 Transactions | 1/5 Cash | 2/5 Service. Note: transactions depend on many external factors, which may mean 1/2 Cash & 1/2 Service, if you only use Chimorel programs.
