In today's episode, Jeff interviews Rachael Burns of True Worth Financial Planning. Rachael started as a financial manager for a big wealth management firm. She enjoyed her job, but things took a turn when COVID happened, and her family was all at home together. Rachael enjoyed being home more and felt it was better for her family. After doing some research, she left her corporate job and started her firm doing what she enjoyed, divorce analysis and financial planning. Starting her firm has allowed her the freedom to be at home and do what makes her excited every day.
Rachael and Jeff discuss the following:
- Rachael came from the big wirehouse world; out of college, she worked for big wealth management firms.
- She was very interested in her work at the time but didn't know what it could be like to be an entrepreneur.
- Pretty much a generalist, Rachael used the firm's tools for her.
- After a while, she made some changes, leaving Morgan Stanley to join a big team at Merril Lynch.
- She got her CDFA (Certified Divorce Financial Analyst) designation, which she didn't use much initially.
- She had twin babies, her husband, and major health struggles, and then she had health struggles after the kids were born.
- Then COVID happened; all of her family members were at home, and she loved being home.
- Rachael didn't want to leave her team, but things just took a turn, and she decided to do some research and then step out on her own.
- Her husband was concerned that they were still in lockdown and that she was leaving a stable job.
- But leaving would be good for her family and she could focus on the work that gave her the most satisfaction.
- It was hard to decide, but she did it anyway and is excited to work.
- Rachael shares that each stage of the divorce process needs a CDFA advisor.
- She finds her clients by networking.
- Anything new? Yes, working on creating online courses.
Fast Five Questions
- If you woke up and your business was gone, you have $500, a laptop, a place to live, and food, what would you do first? “I would just get on LinkedIn and start scheduling chats with people.”
- What is the biggest mistake that you have made in business? “The things that happened felt like mistakes but were lessons learned.”
- What is a book that you would recommend? “Rejection Proof: How I Beat Fear and Became Invincible Through 100 Days of Rejection by Jia Jiang.”
- What is a tool that you use everyday that you would recommend? “ Zoho .”
- What’s your definition of freedom? “Doing whatever I want with my time.”
- What is the best way to contact you? “Website: https://trueworthfp.com/about and LinkedIn https://www.linkedin.com/in/rachaelvburns/ .”
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