Six Questions About Money: An Interview with Financial Planner & Author Rachel McDonough
Welcome to Six Questions! It is a new feature where we’ll ask different people from various walks of life the same six questions. I expect that each person will bring something unique to a standard set of questions. Today’s guest is Rachel McDonough. I’ll let Rachel introduce herself momentarily.
As you read through this Six Questions interview and all the previous interviews, I hope your thinking is sparked. That as you hearÃ‚ new and different perspectives you will be prodded to think about your own relationship to money.Ã‚ The views of our guest do notÃ‚ necessarilyÃ‚ reflect the views of Pocket Your Dollars.com or its staff, but are a springboard for thought and respectful discussion.
If you’d like to be featured in a Six Questions column, email me to express interest.
Now to Rachel…
Introduce yourself in 75 words or less
I’m Rachel McDonough, CFPÃ‚ ®, the Founder of Make Your Money Count, LLC and author of True Treasure: Giving, Saving & Spending According to Your Calling. I offer financial planning and investments to help clients align their financial resources with their values. My core belief that success in life is not just about having the most, but about making the most of what we have. (PocketYourDollars here: I know Rachel because she is also a popular local speaker about women and money. I’ve bumped into her numerous times at conferences where we were both hosting workshops.)
What money issue are you dealing with in your life right now
I’m trying to decide if I should acquire/purchase another financial planning practice now or not.Ã‚ With my financial planning practice, new book, toddler, speaking engagements, etc., I have plenty to keep me busy. However, I believe in our financial planning process and think more clients (and another staff person) would benefit from our business culture if we expand through acquisition.
One thing you learned about money while growing up that has stuck with you into adulthood
It’s important to give. I had the privilege of growing up with missionary parents who lived very powerful, generous lives. I lived in Kenya for 5 years and still today go on service trips to 3rd world countries.Ã‚ Generous parents and time spent among people in poverty has greatly impacted my view of wealth, the purpose of prosperity, my writing, and the way I advise clients who desire a meaningful life.
One thing you didn’t learn at home about money, but wish you had
Financial planning. While my parents did a great job of avoiding debt, saving, and giving, they didn’t actually think about planning for the future very much. After 3 years of graduate-level study on financial planning, 10 years in financial services, advising hundreds of clients on planning for their futures, I still have to remind myself of the importance of having a financial plan for my own family.
Name your favorite money tool, resource or book?
I love The Story of Stuff Project. This site is amusing, enlightening, and provides great perspective. I also am a huge fan of The Treasure Principle, a financial book written from a Christian perspective that changed my life.
What’s one piece of money advice you wish every American would follow?
If you want to live a meaningful, fulfilling life, you must have a purpose that is anchored to someone or something other than yourself. Contentment and abundance increase as you embrace the idea that you are not the center of the universe. If you have no idea what your purpose is, that’s okay…today is a great day to start your search for truth. You can’t make your best financial decisions without knowing who you are and why you’re here. True treasure is cultivated as you give, save, and spend in alignment with your calling and purpose.
It’s PocketYourDollars again wondering how you can relate to these six answers to our six questions.