The Big 5 of Financial Planning - Ep #91
Welcome to episode 91 of the One for the Money podcast! In this episode, we explore the Five Domains of Better Financial Planning—a framework that, when fully addressed, helps individuals and families live with greater financial confidence, clarity, and purpose.
Drawing parallels from real-life stories and even lessons from a classic hunting book, this episode delivers powerful metaphors and cautionary tales that illustrate what can happen when you ignore or neglect key areas of your financial life.
In This Episode, You’ll Learn:
What the Five Domains of financial planning are and why they matter
How each domain contributes to a more complete, resilient financial strategy
Real-world examples of what can go wrong when a domain is ignored
How financial ignorance or carelessness in any of these areas can have lasting consequences
A suggested order for tackling these domains, based on life stage and financial priorities
The 5 Domains of Financial Planning
Investments – Building and managing your wealth through proper asset allocation.
Income – Managing cash flow through salary, pensions, investments, and more.
Insurance – Protecting your financial well-being through risk management.
Taxes – Minimizing your lifetime tax burden through proactive strategies.
Estate Planning – Ensuring your wishes are honored and loved ones are protected.
Tips, Tricks & Strategies
Wondering where to start? In the second half of the episode, we break down the optimal order to address each domain:
Insurance (especially for those with dependents)
Income and Cash Flow
Investments and Allocations
Tax Planning Strategies
Estate Planning (especially critical after age 60)
Episode Highlights & Quotes
“Financial planning isn’t a single plan—it’s five smaller plans working in harmony.”
“Like a hunter misjudging a lion, financial ignorance can be fatal to your future.”
“A GoFundMe page is not a financial plan.”
“Taxes and estate planning are often the most neglected—and the most costly—if ignored.”
“The real purpose of estate planning is preserving family legacy—not just avoiding probate.”
Key Step:
If you haven't addressed all five domains in your financial plan—or if you’re not sure where to begin—we’re here to help. Schedule a free consultation with us at Better Planning Better Life and take the first step toward a more secure and confident financial future.
Want More?
👉 Subscribe to One for the Money on your favorite podcast platform.
👉 Ready to plan your ideal retirement? Schedule a free consultation with our team.
Connect with Jonny on LinkedIn
ReFerences:
Killers in Africa by Alexander Lake
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