Financial Architects Inc. - June 2022

Financial Architects Inc. - June 2022

JUNE 2022

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Money Is Emotional THEMOST IMPORTANT THING I’VE LEARNED

I’m known to be a career changer, but my role at Financial Architects satisfies my love for helping people and working with finances and economics. This month is my sixth anniversary at Financial Architects. I’ve learned several things that have helped me better understand my clients. But first, let’s discuss how I found a career that satisfies both of my interests. My love for economics started early in my life. Some of the first classes I took in business school were economics. I was always fascinated with how macro and microeconomics worked. In addition, I enjoyed learning and understanding how money could be used as an economic tool. But I also enjoyed my management classes and learning the importance of impacting people’s lives in the corporate arena. With this foundation in place, I spent six years working in the HR department and another six years in corporate finance. I loved working in HR — I’m a people person. If I am having a conversation with someone, I am attuned to that individual the entire time. They have my undivided attention when they speak to me. But I was missing the financial aspect of that role. So, I moved to corporate finance. It was great, and I loved it! There was one thing I was missing, though — the people side. I then realized that since I’m fascinated with finances and people, why not help people with their financial needs? This will satisfy both of my loves.

I started to understand that people have different life experiences with money. The most important thing I have learned thus far is that money is emotional — it has a personal connection with people. For example, I worked with someone who grew up in a household where their parents were in debt. They feared going into debt themselves once they were older. They had a low fixed interest rate on their mortgage, and I told them they would be better investing the money

instead of paying the mortgage off early. They were better off financially with this idea, and I had the numbers to show them what I meant. But they were still concerned, and it was because of the bad experiences they had with seeing their parents manage debt. You can show someone the numbers all day, but that doesn’t fix people’s personal experiences. I realized this and took that into account, I was able to serve my clients better. I acknowledged their concerns and showed them the numbers for different possibilities and outcomes. This helps them see the big picture and allows them to make informed decisions. It also helps alleviate some of their fears and stress. Helping my clients feel empowered with their financial situations is the most rewarding part of my job. I love hearing about their lives and what they’re doing with their money. It makes me happy they can do activities they’ve always wanted to do. These past six years have been incredible, and I’m thankful for the experiences and knowledge I’ve gained. I’m looking forward to what comes next in this role and everything else that follows. I would like to thank my wife, Brenda, for being patient with me as I changed careers. Your love and support don’t go unnoticed.

This was when I began working with Financial Architects, and it was one of the best decisions

“The most important thing I have learned thus far is that money is emotional — it has a personal connection with people.”

I’ve ever made. I love the team I work with and assisting people with financial planning. When I got into the business, I spent the first couple of years understanding finance and economics. Coming from a corporate background, I was deep into numbers. I had to realize that although I could have the best plan and analytics, I had to understand why clients are concerned about their financial well-being. If I couldn’t connect these two pieces, I wouldn’t enjoy my job.

– Chavez Vincent

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Dad is a very important person in your life! Every year when Father’s Day rolls around, it can be tough to come up with the perfect gift, whether it be for your dad, a new father, your grandfather, or a father figure. Getting creative can be tricky, but this list is sure to help you with an idea or two for all different price ranges! 6 GIFTS DAD IS SURE TO LOVE It’s Dad’s Day! WALLET Why not go really classic and opt for a thoughtful and practical gift? Most men’s wallets see a lot of wear and tear. After all, they’re sat on, toted around in pockets all day long, and sometimes forgotten about and sent through the wash. A new one just may be in order! MASSAGE GUN Massage guns are rising in popularity. To help Dad recover from soreness and injury or just a tough workout, a massage gun will do the trick! The best part is that they range in price, and you can even purchase one on Amazon! APPLE WATCH STRAP Does the dad you’re celebrating own an Apple Watch? If so, help him customize it with a new Apple Watch strap. You can choose from many materials, colors, and designs so he can blend in or stand out as much as he wants. A NEW COOLER Men love their coolers — it’s a foolproof Father’s Day gift! Whether Dad loves to camp, fish, tailgate, go to the beach, or barbecue in the backyard, he’s sure to appreciate a new way to store ice, drinks, food, or bait! TOOL BUCKET ORGANIZER Is your dad a bit of a handyman? Help him get organized and never lose track of his tools again. Tool bucket organizers come in many forms and, again, can be purchased right online, making your shopping easy! BLUETOOTH HEADPHONES OR SPEAKERS If your father doesn’t have Bluetooth headphones or speakers yet, he’s missing out. The opportunity to jam out wirelessly while working out, cutting the grass, doing hobby work, or just relaxing is effortless with this thoughtful gift.

The events of the last few years have been a strong reminder that things often do not go the way we expect. Life is constantly throwing unexpected obstacles at us. The big question we all must ask is “How will I respond?” “The Obstacle Is the Way” by Ryan Holiday has some thought-provoking answers on how we can not only survive, but thrive. This is the first in a series of books by Holiday inspired by ancient wisdom. I found his books so helpful that I’ve re-read many of them. Many of the principles Holiday applies in this book were written many centuries ago. The book is divided into three parts — perception, action, and will. Perception involves understanding how we see problems and the difficulty of the situation. How do we view problems when they come up in life? Do we look at situations and wonder what can be done, or do we instantly assume it’s hopeless and pointless to try? Action involves what we decide to do and the choices we ultimately make. Often this means we accept that we can’t control most things in life. We may not get the outcome we desired, but we can choose how we respond and what our attitude will be. Holiday emphasizes the qualities of determination, pragmatism, and finding meaning through serving those we care about. Despite our trials, we can still find joy and move things forward. Life often demands endurance and patience. There are stories throughout history of people who endured unthinkable circumstances and misfortune yet found a way to keep battling. That is where the will comes into play. In these situations, we often discover a power we didn’t know we had. I like Holiday’s writings because he reminds us throughout that life just isn’t fair sometimes. It’s not just “glass half full” platitudes that get us through. It’s the human spirit, faith, and recognizing we can control our attitude when things go sideways. None of us choose the problems in our life, but we can determine how we respond. It’s not easy, but it is possible. Holiday mixes in examples throughout history of people who overcame obstacles and succeeded. You will read about Roman Emperor Marcus Aurelius, Abraham Lincoln, Amelia Earhart, and concentration camp survivor Dr. Victor Frankl. All these people had very different situations in their lives yet had a strong will to change their current circumstances. EYE ON THE BALL Book Reviews With Chris Ball ‘THE OBSTACLE IS THE WAY: THE TIMELESS ART OF TURNING TRIALS INTO TRIUMPH’

The information contained in this newsletter is derived from sources believed to be accurate. You should discuss any legal, tax, or financial matters with the appropriate professional. Neither the information presented nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Registered Representatives offer Securities through The O.N. Equity Sales Company, Member FINRA/SIPC (www.FINRA.org/ and www.SIPC.org). Investment Advisory Services offered through O.N. Investment Management Company and FAI Advisors, Inc., Financial Architects, Inc., FAI Advisors, Inc. is not a subsidiary or affiliate of The O.N. Equity Sales Company or O.N. Investment Management Company. We have representatives currently registered in the following states: AL, AZ, CA, CO, DC, FL, GA, IL, IN, MA, MD, ME, MI, MN, MO, NC, NH, NV, NY, OH, OR, PA, SC, TX, VA, WA, and WI.

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Chat With a Client Terri andMark Schell

Take a Break

Solution on Page 4

Sweet and Spicy BBQ Chicken Skewers Inspired by RecipeRunner.com Summer is here, and you know what that means: It’s time to break out the barbecue and meat skewers!

HOW DID THE TWO OF YOU GET INVOLVED WITH FINANCIAL ARCHITECTS? We learned about Financial Architects through our friend, Matt Dery. He told us what a difference working with Financial Architects had made for him and his wife, Heather. Our financial situation is not very complicated, and we’d never really considered working with an advisor beyond having someone manage our rolled-over 401(k)s. But on their advice, we decided to find out more. TELL US ABOUT YOUR FAMILY AND HOW ACTIVE YOU AND YOUR KIDS ARE RIGHT NOW. We live in Sterling Heights with our kids, 21 and 19, and two dogs. Our days are no longer built around school activities, dance rehearsals, and baseball games, which is definitely an adjustment, but there’s an upside to more free time in the evenings. Between work and classes, it’s not too often that we’re all home for dinner together on the same night, but we do like when that happens.

INGREDIENTS For the Marinade • 1 tbsp olive oil • 2 tbsp soy sauce • 2 tbsp chili garlic sauce • 2 tbsp rice vinegar • 3 tbsp honey • Juice of 1 lime • 3/4 tsp smoked paprika • 1/2 tsp salt

DIRECTIONS

1. In a bowl, whisk together marinade ingredients. 2. In a reusable freezer bag, combine cubed chicken and all but 1/4 cup of the marinade. 3. Seal bag and massage marinade into the chicken. Chill in the fridge overnight. 4. The following day, preheat the grill to 400 F. Thread chicken and pineapple onto skewers, adding two cubes of chicken for each cube of pineapple. 5. Grill the skewers for 3–4 minutes per side, brushing with the reserved marinade in the final minutes. 6. Serve over rice or with your favorite barbecue sides!

For the Skewers • 2 lbs chicken

WHAT ARE YOU MOST LOOKING FORWARD TO THIS SUMMER? We’re looking forward to spending time with family and friends this summer and watching the Tigers. We’ll head to Muskegon State Park for a week in July and hopefully find time for a few other road trips at some point.

breast, cut into bite-size cubes • 1 small pineapple, cut into 1-inch cubes

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Inside This Issue 1 | It’s My 6-Year Anniversary at FAI!

2 | Father’s Day Gift Guide

2 | Book Review: ‘The Obstacle Is the Way’

3 | Chat With a Client

3 | Sweet and Spicy BBQ Chicken Skewers

4 | Is Travel Insurance Worth Your Money?

Travel Insurance: Scam or Savior? If you’ve ever booked a plane ticket or hotel stay online, you’ve probably been offered an opportunity to “protect” your purchase restrictions, so always make sure you understand the terms and buy coverage that offers the protection you want.

for an additional fee. Since you’re spending big dollars on your trip, you may have hovered over the option, wondering if it’s a wise investment or a quick money-making scheme. Before you buy, you should know that trip protection and travel insurance are different. When you book directly through the airline or hotel or on a travel website like Travelocity or Expedia, they offer you trip protection. These plans often provide nothing more than a voucher you can use to reschedule in the event of a cancellation — something you won’t need if you book refundable accommodations. But you can also purchase travel insurance through a reputable third party, and these policies offer cash refunds if your trip is canceled or interrupted. They also typically cover lost or damaged bags, and high-quality policies will cover medical emergencies that occur at your destination. But there may be

It can be hard to swallow the idea of paying more to insure yourself against an event that probably won’t happen. So, can you skip it? The risk you’re

willing to take is up to you, but remember the amount of money you’re spending on travel and consider whether it’s worth protecting your investment. While you may decide against travel insurance for your weekend trip two states away, experts recommend always purchasing it for international travel or cruises due to the higher cost and potential for things to go wrong. The price, they say, is usually worth the peace of mind.

If you’re going to purchase travel insurance, you should take the time to shop around, just like you did with your accommodations. Not all plans are created equal, so read the fine print and make sure you understand what is covered — and what is not. The last thing you want is to spend your hard-

earned money on a policy that leaves you holding the bag.

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