The Freedom to Give Back

Mitch Anthony

Bill was a senior-level executive at a large organization. During the course of one of our conversations, he shared his vision of retirement with me. It wasn’t at all what you would normally expect to hear. There were no golf courses, luxury motor homes, or poolside cabanas in sight. Bill had secured his Certified Financial Planner (CFP) designation and started a practice that caters to those who typically cannot afford financial planning services. His decision had been cemented after an experience he had helping a young, single mother.

Bill was helping this woman with her taxes when she shared a breakthrough in her life. With great pride, this young lady (who earned no more than $15,000 a year) told Bill how she had just paid off her last debt and was now free to pursue her dreams. This story touched Bill in a deep and meaningful way, by helping him grasp how relative numbers were and how meaningful it was to gain complete control of your financial life––whether you earned $150,000 or $15,000. He immediately recognized the dilemma of needing advice but not being able to afford it. 

From this epiphany, Bill’s dream of giving back to his community was born. He now works on a sliding scale so his clients have something invested in the process. He also provides services to those who need help but can’t pay. Bill has found a way to leave his own legacy by helping others help themselves. He sets an example for the rest of us by giving back in a way that is more meaningful than simply sending a check to a favorite charity. Don’t get me wrong—I am a big proponent of making donations, but I also feel that embracing the Return on Life philosophy takes giving back to the next level.

Investing Ourselves

Bill’s story represents the highest goal of the Return on Life perspective: finding a way to invest all we are, all we know, and all we have in a cause that is bigger than ourselves. It is about leaving our own signature upon the world. It transcends rote tasks of volunteerism or keeping busy just to stay busy. It is a way for us to create not only a better return on our own lives, but those lives that surround us. 

If you’re reading this article, chances are you are the type of advisor that wants to truly make a difference. Your work goes beyond simply ensuring that your clients have enough invested to “retire”––it means helping them design and plan the next phase of their lives in order to achieve a return on life. 

The desire to make a difference is a trend that can pay dividends not only for society at large, but also in your life as an advisor and the lives of everyone you touch. Once we leave the traditional workforce, many of us suffer unnecessarily under a dark cloud of insignificance, having gone from being a “who’s who” in their community to a “who’s he?”—and this transition takes a terrible toll on one’s spirits. One retired physician summed it up when he said, “I didn’t realize what retirement had done to me until a woman walked up to me and said, “You used to be Dr. Wilson, didn’t you?’” Ouch. 60 really is the new 40. Most people don’t really want to retire; they just want to do something more meaningful with their lives. Not that long ago, if you were 65, you were sitting in a rocker waiting to die. Take a look at how many guitarists over the age of 60 were taking part in Eric Clapton’s recent Crossroads concert. I don’t know about you, but I could never envision Eric Clapton or Ron Woods sitting in a rocking chair. 

Today, most of us over 50 say we feel 20 years younger than the age listed on our driver’s license. Combine this new perspective on aging with the burgeoning ethos of making a difference, social contribution, and altruism––no matter what your age. Keep this in mind as you design not only the next phase of your life, but that of your clients. 

Adapted from You Clients for Life:  The Definitive Guide to Becoming a Successful Financial Life Planner by Mitch Anthony.  ©2002, 2006 Mitch Anthony. 

Mitch Anthony is the founder and president of The Financial Life Planning Institute, the leading provider of financial life planning tools and programs. 

For more than a decade, Mitch and his team have provided training and development for both individual advisors and major organizations throughout the world. Mitch personally consults with many of the largest and most-recognizable names in the financial services industry on both financial life planning and relationship development.

Mitch has been named one of the financial service industry’s top “Movers & Shakers” for his pioneering work, and is interviewed by the media on a regular basis. The Institute is partnering with both Texas Tech University and the University of Georgia to develop financial life planning programs for their undergraduate programs. Mitch is a popular keynote speaker, columnist for Financial Advisor magazine, and host of the daily radio feature, The Daily Dose, heard on approximately 100 radio stations nationwide.

Mitch is also the author of many groundbreaking books for advisors and consumers, including From the Boiler Room to the Living Room, StorySelling for Financial Advisors, The New Retirementality, Your Clients for Life, and Your Client’s Story. For information on these books and more resources, click here.

Contact him at mitch@mitchanthony.com.

© 2008 Mitch Anthony