Chimorel

Learn Area:  735 Plan

Every question contains the seed of a dynamic strategy. If a question has the potential for two or more diamonds, gems or gold nuggets, we use [2] to indicate that two or more dynamic strategies could be uncovered. Even if you do not see a [2] you might want to think about the possibilities each question offers.

Q:   There are 735 stories that explain the 735 Plan. T/F

A: True. There are five 735 stories: Business Development, Mye Church, Action Delinq, The Typicals and Youra Client. There is also a story about Bill & Martha within the 735 Training Module.

Q:  What is the purpose of your 735 Plan?  Short Answer

A: Your 735 Plan Lifetime Membership is designed to expand your Action Planning Membership for the rest of your Life.

Q:   Step by Step financial planning consists of: M/C [2]

  1. Risk Management
  2. Career Development and vacations.
  3. Investment Strategies and buying a car.
  4. Resource Management and taking a break.
  5. Satisfaction Planning and working hard.
  6. This is all confused.

A:   (6) Step by Step planning consists of Career Development & Training, Resource Management, Risk Management, Investment Strategies and Satisfaction Planning in this order without all the extra words.

Q:   Comprehensive Planning is more comprehensive than Chimorel’s Step by Step Planning? T/F [2]

A:   False.  The link above gives you a pretty “comprehensive” description of Comprehensive Planning. Chimorel’s Step by Step planning goes beyond a comprehensive plan with life long learning tailored to your needs.

Q:   The components of a 735 Plan are 1) Your Focus, 2) Your Service, 3) Your Cash and 4) Periodic Reviews. T/F [2]

A:   True. See the link  to the right.

Q:   Which is not true about the Chimorel Cooperative? M/C [2]

  1. The Chimorel Cooperative is a producer, volunteer and consumer cooperative.
  2. You can reduce the cost of many things right now, earn Chimorel Bucks and participate in developing the Chimorel Cooperative.
  3. The Chimorel Cooperative is fully operational.
  4. There will be requirements to join the Chimorel Cooperative.

A:  (3) The Chimorel is not fully operational. You can participate in its development. There will be requirements to join and continue to use the cooperative. You can reduce the cost of things and earn Chimorel Bucks right now.

Q:   You can initiate a 735 Plan now. T/F

A:   True.  You can initiate a 735 Plan, but the link to initiating does not lead to a payment method yet. Send a check through Contact Us for $735 with your email. We will send you an application and start the process to create the appropriate Supplement. 

Q:   As we Dig in to the Details, we know that the 735 Plan is the only way to go? T/F

A:   False. Your 735 Plan is the most cost effective way to achieve significant goals. Support is available in other ways, as well. We believe that comparing your 735 Plan to Comprehensive Planning or other planning methods most likely is more comprehensive and significantly less expensive.

Q:   Which is not true about the details of the 735 Plan? M/C [2]

  1. Life Long Learning involves all of the following: Ongoing Information, Training Modules, Planning Packages and College Bound.
  2. Individual Support involves all of the following: Groups, Training Sessions & Seminars; Volunteer/Paid Work Experience, Chimorel Bucks, Special Projects & Taxes; Individual Coaching & Telephone Support; Entertainment & Other Programs; as well as, Professional Advice.
  3. Organizational Development involves: Business Incubation and Nonprofit Development only.
  4. Financial Guidance considers Investment Strategies, Financial Planning and various additional opportunities.

A:  (3) Organizational Development also includes Business Development.

Q:   Regarding payment alternatives, which statement is correct? M/C [2]

  1. All focus hours are taxable.
  2. All cash is taxable.
  3. All focus hours are taxable.
  4. All service hours are taxable.
  5. None of the above is correct.

A:  (5) Most focus hours are taxable because you are exchanging work for money, but through negotiated bartering and in other ways you can reduce the amount of taxes. When someone donates cash to you, less than $15,000/yr, it is not taxable. When you do something for yourself that saves you money. This focus on getting things done through your own effort is not taxable. When you support (serve) someone else or they support you and there is no equal exchange involved it is not taxable. We call this a friend helping a friend.

Q:     As your income grows, especially if you are self-employed, paying attention to the tax affect of your activities becomes more and more important. T/F

A:   True.  Nuff said.

Q:   You really don’t have to understand all of the details of the 735 Plan. T/F

A:   TrueIf you are confused, shake your head, set 1-3 goals and we’ll take it from there. We’ll guide you to the most effective payment plans. We’ll provide you with the tax implications when they are appropriate.

Q:   Which of the following is correct regarding the 735 Plan Agreement? M/C [2]

  1. You enter Chimorel’s 735 Plan by making commitments regarding your focus, your time, your money and your service.
  2. We set your time and focus commitments.
  3. You never pay more than $735 and the 75 hour service commitment is optional.
  4. The 735 Plan Agreement and Supplement are always one document. Once you sign the document, there are never any additional supplements as you continue your life long journey.

A:  (1). You set your time & focus. $735 is the minimum. The 75 hour service commitment is required, but can be done by you, your family/friends, or negotiated as part of your agreement. Most of the time people do way more than 75 service hours. The Agreement and additional Supplements are separate documents. You will continue to agree to additional Supplements as you complete goals and start new goals. You will sign Supplements. You may or may not sign the Agreement.

Q:  What are you agreeing to regarding  your life long commitment to financial planning?  Short Answer [2]

A: You are agreeing that financial planning is a long term commitment designed to enable you to achieve specific goals and to support others.

Q:   As part of the Friendly Understanding we may ask you to furnish information about financial objectives. T/F [2]

A:      False.  Yes as part of the Friendly Understanding we may ask you for financial information, but the entire request includes complete and up to day information of your personal, financial, investment circumstances and objectives. This request may come in the form of assessment tools, information forms, questionnaires and checklists. Information will be requested at various times based on the focus of your Step by Step Plan. We will clarify the information in interviews and phone calls. You will be encouraged to learn to do as much of your own analysis as possible. This will reduce your overall 735 Plan cost.

Q: There are 12 questions in the 735 Plan section, 8 point toward two or more dynamic strategies. T/F False. We counted 16 and 10. Don’t count this question.