The Five Key Financial Disciplines

20 Jul 2015

Quick, before you read any further can you name the five financial disciplines? Ok, now see how many you got right. To effectively manage your finances, you need to keep in mind and coordinate the five key disciplines.

  1. Risk Management
  2. Wealth Management
  3. Financial Planning
  4. Tax Planning
  5. Legal Planning

Most people are in the dark when it comes to naming these five principles, and they also well might be at financial risk. Effective financial planning requires coordination of various professionals so that each isn’t doing his or her work in a silo. Somebody has to be responsible for weaving the thread of continuity through all of the disciplines. This will help ensure that your most important goals are in complete alignment with your most deeply held values.

How many of these five disciplines have you planned for? Learn more about these financial disciplines in my book Stop Trying to Keep Up With the Joneses: They’re Broke Anyway.

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. Please consult with an advisor about your specific situation.


Brad Berger
Brad Berger

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