We recently sat down with Cory Faucheux, senior financial advisor at TruWealth Advisors, to discuss the ideas and practices behind values-based financial planning. 科里还回答了观众的问题，并就绘制个人致富之路提供了专家建议. Watch the full Q&A video below or continue scrolling for the written transcript.
What exactly is values-based financial planning?
财务规划——作为一个整体——是学习如何从a点到达B点. Which is why so many people focus on the how. Values-based planning goes beyond that. It focuses on the why. It looks beyond the numbers, into your value system and your motivations.
What's the best way to start building wealth?
在最基本的层面上，确保你有应急基金或现金储备. Bad things inevitably happen and it's important to be prepared for that. 我们都认识一些人因为疫情而被迫休假或失业. We saw a lot of households go from two incomes to one income. Having an emergency fund to fall back on is so important.
How much money should I have in my emergency fund?
It mainly comes down to cashflow in your own personal situation. Start with a goal that's achievable. Save $1,000 by depositing $100 a month for 10 months, or $50 a month for 20 months, 然后继续增加这个数字，直到你有足够的钱支付至少三个月的开支. I'm talking about the mortgage, the light bill, the phone bill, the necessities.
如果你的雇主提供工资扣除，这是建立应急基金的好方法. 有一部分薪水会自动进入你的储蓄账户, you don't have to rely on discipline. 相信我，一开始就严于律已可以让你在事后避免很多痛苦.
Are some debts better than others?
这一切都归结为你的个人价值观——我想让每个人都明白的最基本的一点是，没有人有 better set of values than others. It's mostly a matter of how you grew up and what's important to you.
The debt question is one we see on both sides of the aisle. Many of my clients have a total aversion to debt. They want the mortgage paid off, the car paid off, everything paid off. 从更合理和基础的层面上说，我的建议是先还清你的高息债务. If you look at the minimum payments on high-interest debts, you'll realize how much of that is going toward interest, not principal. It could take you 20 years to pay off your credit card at that rate.
Credit cards are great tools if they're used as tools — not a crutch. 如果你的信用卡余额开始看起来像抵押贷款，可能是时候合并这些付款了. Debt consolidation is the act of moving your high-interest debts into one low-interest loan. It’s a smart financial move that can help you pay off debt faster, simplify your finances and boost your credit score. Check out Louisiana FCU's Debt Consolidation Calculator to see if consolidating is the right move for you.
Speaking of mortgages, is there any benefit to paying off your home quickly?
Now that interest rates are low, I wouldn't rush to pay off a mortgage. Often times, especially if you're younger, 从长远来看，为退休储蓄比试图加快抵押贷款的支付要更大.
The same goes for car payments. Your vehicle's value is guaranteed to go down. There aren't many things I want invest in that are guaranteed to lose money.
Should I try to pay off my student loan early?
It depends. Older loans have rates between 2.5% to 4.5%, while newer loans are closer to 6.75% or higher! Is your student loans structured as a 10-year standard pay, or an income-based repayment that could take 30 years to pay off? 大学贷款的利率越高，你就应该越快还清.
What should I do with my money after retirement?
Understand all of your options. Option one is to do nothing with it: You can leave your money in your 401k. There's no requirement for you to take it out. 只要确保你了解你的投资策略，也就是你的账户目标. What am I trying to accomplish? Why is this my goal? 确认你的目标与你的风险轮廓一致，并且你的受益人已经建立. That can happen in an IRA, which is in a individual retirement account. IRAs are like your own personal 401k that can be rolled over tax-free, as long as it's done as a direct rollover.
Option two is to take the money out. If you're over 59 and a half, you no longer pay penalties. But remember, 如果你所有的捐款都是税前的，你仍然要按这个数额缴纳税款. Before you cash out, 重要的是要理解这将如何影响你的整体税收状况.
选择三是领取年金，这是一种在一段时间内支付的保险形式. 理论上听起来不错，但有时回报可能不如传统投资. Before you make that decision, take a good look at the fees, risks, liquidity and different options available to you.
What's the best way to save money?
Again, it all comes down to the goal, the reason, the why. If you're saving for retirement, a 401k is the best place to start. Oftentimes your employer will provide a match. That's free money! There's nowhere else you're going to be able to invest and get free money.
If your goal is to have enough money to cover an emergency, go with cash. 不要把它和存单(CD)联系在一起, because if you have an emergency you don't want to have to go break a CD.
If you're saving for education, 还有像Coverdell教育储蓄账户或路易斯安那州START 529计划这样的项目.
The question should always be "what is the purpose? What is driving the savings?知道答案可以网投前十信誉排行榜找到省钱的最佳选择.
Know any tricks to help me start and commit to a budgeting plan?
In order to start a budget, there must be a why. 为了在生活中保持自律，你必须明白你为什么要这样做. What is your motivation for it? 如果你没有现金储备或者你没有偿还你的债务，那就是你的动力, well, that's your why. Your goal should be in line with your budget. 你不可能一边喝啤酒一边喝香槟，还指望它真的成功. You have to set realistic goals based on your budget. My recommendation would be to start with a budget, understand what your resources are and then set reasonable goals. 如果你设定的目标太高或太大，但你从来没有赢过, you can't build momentum.
I like the zero-based budgeting method. If you have this much income to work with and have $100 left after you pay all your bills, you'll need to figure out the best place to put $100 a month. 如果你的目标是1000美元，你知道你需要12个月才能实现你的第一个目标. Then you can say, "I want an emergency fund in 12 months." A goal without a deadline is just a wish. You need to say, "when am I going to accomplish this?“只有制定预算并了解自己的资源，你才能真正设定合适的目标.
Your goal beyond that should be retirement, 这比凭空找一个数字要复杂一些. 这时候你应该和财务专家坐下来讨论你的目标的优先顺序, your timelines, your resources and how you're going to get there.
Is it too late for me to start saving money and investing?
It is never too late. Granted, the younger you are the better off you are. But it's never too late. If you haven't started, start now. 如果你现在不开始，明天就会到来，而你仍然不会开始. 这就像你看着任何东西然后说，“这需要我五年或两年的时间." Well guess what? Whether it's two years or five years, 不管怎样，它都会通过，如果你什么都没做，你仍然会在相同的位置上.
Many young people say to me, "I don't have a lot. And what I can put aside doesn't feel like enough." It's always enough. It's never too late and it's always enough. Get started and stay disciplined. Those are the two best pieces of advice I can give you.
Is it better to invest in rental property or the stock market?
I have dealt a lot in both. There's no right or wrong. 你对退休的目标应该是在某天早上醒来，不用去工作就能有收入. Some people achieve that through the stock market; Some people achieve that by starting a small business like a carwash or something that has passive income. Some people achieve that through rental properties.
唯一的警告是:我见过一些人，他们有很多出租房，但流动性不强. If the economy tanks, that is not a balanced portfolio. 就像你不会把所有的大盘股都作为股票投资组合. 把所有的资产净值都用于非流动性投资也不理想.
Just use caution and make sure you have enough liquidity. With stocks, it's really easy to say, "What's my rate of return?“计算出租房产的真实回报率不是那么容易的. "I bought it for X, my mortgage is Y, my insurance is Z. I rent it out and there's the net difference." Not necessarily. 因为一旦你的房客在三年内搬走，你将不得不更换地毯? Will you have to repaint? Will you have to replace the roof?
If you buy the property right, 拥有好的租户和良好的维护——出租的物业可以和股票市场一样好吗. 但它们都没有天生的优越性，因为它们都实现了相同的目标. It's all just a matter of how you want to get there.
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