by Christy Heitger-Ewing
Let Drive Planning Transform Your Financial Future
Live in the moment. That’s what psychologists, doctors, and philosophers suggest that we do in order to be most at peace. Some amount of planning is good, but it should not be at the expense of finding contentment in the present. That mode of thinking was driven home for Todd Burkhalter after spending 15 years working in traditional financial planning.
“Over the years, I noticed that while more people were putting money into the stock market for retirement, it didn’t really address their lifestyle or their ability to create income today,” says Burkhalter. “While it’s wise to plan for retirement, I wanted to help people plan in a way that allows them to live more freely today.”
Therefore, in 2015 he founded Drive Planning, launching a different approach to investing money so that clients can keep more, make more, and live more. Burkhalter’s colleague, Monica Perez, points out an obvious fact that is often overlooked.
“Many people dream of a big retirement because they want to travel, but you can’t enjoy your money when your health and energy is not the same,” says Perez, Financial Consultant with Drive Planning. “You want to enjoy your money now when you have your health, your kids, and your grandkids. That’s our goal – to help you live your fullest, richest life today.”
According to Burkhalter, traditional financial planning treats the financial process like an equation. For instance, say you’re 50 years old and are looking to retire when you’re 65. You would see how much money you currently have, then pick a target into the future – say, $2M – to retire. Often this is a random number that people make up. They then work backward, thinking, “If I have this much money today, I need to make 8% of my money, and then if I put away this extra bit of money, that will get me to the $2M I’m desiring.”
“That’s nothing but a math problem that doesn’t help you in any way,” says Burkhalter.
What’s not accounted for in that type of planning is asking if you’re doing the best you possibly can. In other words, is $2M the right amount? Or what happens if you get to 65 and find out you don’t have enough money?
“A common planner’s response is that you just have to keep working a couple more years, but that’s your life you’re talking about!” says Burkhalter. “You have to account for more variables than a traditional approach does.”
Plus, there are all sorts of things that exist today that didn’t before such as streaming services and cell phones.
“If I would have planned 30 or 40 years ago to be here today in retirement, I wouldn’t have known to plan for those things,” says Burkhalter.
People are looking for guidance, leadership, and direction from their financial planner so that they can achieve peace and security.
“We offer people solutions by leading them towards things that they didn’t realize were possible,” says Burkhalter. “Particularly now, in light of the recession and inflation, people are desperately looking for different solutions.”
Warren Buffett said that his number one rule for creating wealth was not to lose money. His number two rule was to refer to rule number one. This is why doing things to eliminate loss is key to achieving financial security. In addition, Burkhalter and his team put programs in place to save on taxes and expenses.
“If you eliminate loss and cut down on some of the major expenses in order to mitigate tax, that’s the steppingstone towards peace,” says Burkhalter.
If you were to conduct a poll, asking people about the different places they could put their money, most would list the bank, the stock market, and their home. They don’t consider other investment opportunities such as investing in solar energy, Airbnbs (short-term rentals), or real estate development projects.
“These aren’t common things the average person would consider first when they look at what to do with their money, but we think outside the box when it comes to wealth accumulation,” says Burkhalter.
Drive Planning does do things that are relative to the stock market. The difference is that they do it in a manner that has contractual guarantees, so clients won’t lose money.
When Burkhalter presents his clients with some of these private investment opportunities, he is often met with the same response: “Why did I not know about this?”
Drive Planning teaches people that there may be better ways to do things than what they are accustomed to. Sometimes people aren’t aware that something is hurting them financially. Drive Planning points these things out to clients.
“If you’re not able to do as much or live as well as you possibly could, you have to take action,” says Perez, who is doing a phenomenal job of bringing this message to Spanish-speaking people in the community who perhaps haven’t been in the states for very long or just aren’t familiar with all the rules.
“Monica not only knows how to grow your money, but she also can build trust and communicate complex things in her native language,” says Burkhalter.
Thanks to Drive Planning’s Indianapolis location, they have recently connected with a young racecar driver named Elliot Cox. Earlier this year, Sarah Fisher Hartman Racing (SFHR) announced Drive Planning as its primary sponsor for the 2023 USF2000 Season.
“That’s been a phenomenal relationship for us,” says Burkhalter. “They have races all over the country, and we have advisors all over the country. It’s nice to be able to bring in clients and advisors and enjoy the racing atmosphere and all the fun that goes along with that.”
As for Burkhalter’s future plans, he’ll continue down this road with Drive Planning because it’s his true passion. “
We’re creating more assuredness for people around their investments,” says Burkhalter. “That’s why this is the most meaningful work I’ve ever done in my career.”
Drive Planning is eager to offer you a personalized approach to financial planning. Call them today so they can help you plan for the future while fully enjoying the present.
