Why the father of ‘life planning’ says you’re managing money the wrong way
George Kinder wants everyone to be free.
At first blush, that concept of personal fulfillment or enlightenment may seem better suited to the realms of religion or spirituality than personal finance.
But Kinder, who’s recognized as the father of the “life planning” branch of financial advice, has preached the interconnection of finance and freedom for decades.
In fact, his new book — “The Three Domains of Freedom” — is a treatise on the topic.
“There are kinds of goals that are profoundly inspiring to clients,” Kinder, who founded the Kinder Institute of Life Planning in 2003 after three decades as a financial planner and tax advisor, said in an interview.
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He’s perhaps best known for his “three questions,” which aim to help people uncover the essence of their life goals.
“If you identify those and really paint the picture of what [someone’s] life would be like if they actually had that life, clients are on fire and they solve the financial problems pretty quickly and pretty easily,” Kinder said.
CNBC spoke with Kinder about life planning and why he thinks many people miss the point when it comes to managing their money. This interview has been edited and condensed for clarity.