Broker Check

How to Outclass and Beat the “Joneses”

We all know the “Joneses”. The couple in your neighborhood, social sphere or children’s school who place way too much emphasis on obtaining material possessions and trappings to flaunt their superior social status. The expensive new car for their child’s 16th birthday, the ongoing, extravagant group outings, lavish weddings, and exotic international vacations. All carefully curated and posted on Facebook, Instagram and Snapchat so everyone can see their charmed life.

The awkward family secret of the Joneses is that they are many times living beyond their means to create the illusion for how they would like to be perceived by their extended family, friends and acquaintances. They are not good fiscal role models and are most likely carrying a lot of debt. I help my clients understand the importance of creating and managing a budget as well as how to address hiccups or unforeseen circumstances that may have taken them off track. This includes being able to deal with surprise expenses by being prepared – such as building liquidity and having access to lines of credit – so they have suitable options available if the need to access additional funds arises.

This allows them to keep their financial habits in line with their personal values. Together, we have found that one of the key ways to find personal fulfillment is to make choices that align with our values – all while hoping the Joneses eventually get their comeuppance.

Investing with a Purpose

Gen X Wealth Partners offers specialized expertise in helping its clients develop comprehensive, purpose-driven financial plans designed to enable them to efficiently pursue long-term financial success and achieve their most important goals.

Our team offers customized portfolio management for investors who seek the flexibility to efficiently build and maintain a portfolio using a diverse selection of investments. We provide strategic investment management with the objective of helping you achieve specific goals during different phases of your life ─ accumulation, distribution, and legacy.

Wealth Management Process

We utilize a 6-step process that allows us to evaluate your personal, family and business goals so we can determine your appropriate level of security and risk tolerance:

Step 1: Discovery

We begin our planning process with a discovery meeting. We listen. And by listening, we learn the answers to the critical questions you may face about cash flow, cost of living per year and current savings. Equipped with this information, we begin to help you structure an approach designed to achieve your life goals.

Step 2: Analyzing Your Situation

Each family is unique. Saving for college, retirement goals, required income and personal situations will dictate a timeline and financial horizon. Most importantly, investing for retirement is very different from investing during retirement. Gen X Wealth Partners prepares an analysis and recommendations for all holdings that will impact your plan.

Step 3: Making It Meaningful

Investing for your future should be inspiring. We focus on customizing your experience to make it meaningful to you. We listen to what is important to you and build your plan around that. We believe a plan that is built around someone’s unique interests and personality will lead to a more engaged client, one who has a better understanding of the plan and one who will have more input throughout the process. At the end of the day we enjoy collaborating with our clients.

Step 4: The Plan

After in-depth analysis, we create a comprehensive plan designed to pave the way for you to succeed financially. Our attention to detail provides direction and discipline. We believe the ability to deliver innovative planning empowers you, supports goals and promotes mutual trust. Goals are prioritized and consideration is given to balancing ideal goals with potential outcomes.

Step 5: Delivering Your Plan

We meet with you to review recommendations that are designed to help enable you to live the life you are planning. All steps necessary to implement your plan are reviewed, and then final adjustments are made to the customized plan.

Step 6: Monitoring Progress: Life and Market Changes

It is essential to monitor progress toward those goals, adapt to changing conditions and manage risk. As the plan is implemented over time, life and market conditions may change, requiring revisions in an effort to stay on course toward defined life goals.