Finding Joy in Financial Planning and Pursuing The 6 Stages of Financial Independence with Ben Hockema

“Money is just a tool toward whatever you see for your life, whatever you envision, whatever your fulfillment could be. Whatever that is, it’s just a tool to go that direction.”

Discover the ins and outs of financial intimacy and how it can strengthen your relationships in this eye-opening conversation with Ben Hockema of Illuminate Wealth Management and our host Ed Coambs of Healthy Love and Money. Learn how to navigate the challenges couples face in their financial lives together while uncovering the psychology of money and the important role it plays in our lives.

Listen in as Ben shares his insightful take on the six stages of financial independence and how to strike a balance between meaningful life experiences and creating an effective financial plan.

This episode is packed with invaluable advice for both couples and individuals looking to improve their financial lives and relationships around money. Whether you're just starting your journey to financial intimacy or have been on the path for years, Ben and Ed’s insights will prove to be game-changing.

Key Topics:

• How Ben Became a Financial Planner (0:02:20)
• Ben’s Initial Questions for Clients & Why He Prefers Couples Work (0:11:09)
• Assessing Money Goals of The Client (0:17:41)
• Opportunity, Security, Vulnerability and Early Money Memories (0:24:11)
• Life Philosophies around Money and Planning (0:31:19)
• Ben’s Perspective Change Once He Got a Financial Planner (0:39:53)
• The Six Stages of Financial Independence (0:54:54)
• 1: Establishing an Emergency Fund (0:58:26)
• 2: One Year of Expenses (0:59:40)
• 3: I Can Quit My Job (1:04:56)
• 4: Lean FIRE (1:07:22)
• 5: Traditional Financial Independence (1:12:09)
• 6: True Financial Freedom (1:13:50)
• Emotions Around Finances (1:23:23)
• Wrap-up (1:27:50)

Resources:

• Ben Hockema and Illuminate Wealth Management
• Healthy Love and Money Podcast Episode: How Financial Planning and Financial Therapy Changes Couples Lives: With Danielle Seurkamp

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