Return on Life (ROL) versus Return on Investment (ROI)
I got some interesting responses to last week’s Nano “The Coca-Cola Company and Lawyers”, so let’s connect this week’s Nano to the previous one.
Look at the above Sketch and Ponder over it.
What do you do for your Clients (Pick One)?
- Deliver a 15% return or whatever return
- Find the best product
- Time the Market
- Help them live the life they have imagined with their money.
Assuming you have answered the above, let’s now imagine that you have Aladdin’s magic lamp in your hands.
Rub the magic lamp and the Genie appears. Unlike the story, you are only granted 1 wish. The catch is that you have to make a choice between 2 wishes.
Option a. 15% return
Option b. Never have to worry about money and that you will have money when you need it
Which one would you choose for your children and family?
I can bet my life that all of us would Option b (only if you want to kill me would you choose Option a).
Yet when it comes to money, why is it that we think about a 10% or 15% or Highest return, when the purpose of money is to do Option b. A real financial professional or team will help clients exactly do that – help clients get clear about their values (purpose) and then find out what it takes to get them to never ever worry about money, and finally start making progress on that front.
Return on Life is all about helping people live the life they have imagined with their money.
The exceptional professionals of the future will invest their time and money in learning how to effectively deliver ROL to their clients. Not to mention, they are patient and understand the life cycle of a new project (read the Nano – The Valley of Death)
P.S. I have given an entire blueprint on how to build the wealth management firm of the future in the book “The HappyRich Advisor.” If you haven’t got your copy yet, click here and order.