The Bucket Plan®
The Bucket Plan®: Protecting and Growing Your Assets
I believe my role as a financial planner is to provide clients with holistic plans that paint a clear picture of their financial situation. Through in-depth discussions and careful analysis, we work with clients to help them figure out where they are now and where they want to be in the future. Then, we develop a comprehensive strategy to help them achieve those goals and a financially secure retirement.
I had been using this approach with clients for more than a decade when I first learned of The Bucket Plan®, and I immediately saw the organization and structure of this process. The beauty of The Bucket Plan is its simplicity. It takes away much of the complexity and confusion of financial planning and explains where a client’s money is being invested, and perhaps most importantly, why it’s being invested there.
Most of the prospects and clients I work with already have accumulated enough money to allow them to live comfortably in retirement. However, many of them didn't’t have a properly structured retirement plan when we first met, and many of them didn't’t have a plan at all. Instead, they had an eclectic collection of assets that were working independently of one another. By embracing The Bucket Plan, these clients are able to understand the importance of designing their assets to interact and work together.
Something else takes place when clients use The Bucket Plan—they learn which assets to consume, which assets to defer, and which assets they should grow. By structuring their assets into “now, soon, and later” buckets, my clients have gained peace of mind with their investments. They no longer have to worry about their immediate needs, because these needs have been accounted for in their investment plan.
For me, a holistic plan is not only about money. It’s much more about life planning and what a client wants to do with their money and their time. The Bucket Plan provides us with a forum on how a client can structure their finances so they can achieve those holistic goals. That begins with the discovery phase. If a person has wealth in place, then the question becomes, what do they want to do with that wealth? Do they want to use it to create a legacy? Does it allow them the freedom to do the things they’ve always dreamed about?
I have one client who always dreamed of writing a book and a screenplay. After working through The Bucket Plan, he now has the peace of mind that his assets are in place and that allows him to finally pursue his lifelong passions. Discover how The Bucket Plan can do the same for you.
—Allen G. Yee, CFP®, RFC, CWS®