BY Michael A. Kalloz, CFP®, CRPC™, Vice President/ Investments, STIFEL
A Business Solutions feature piece from our Spring 2025 issue of the Lancaster Thriving Publication.
After years helping individuals and business owners navigate financial ebbs and flows, I have seen people struggle to answer this question. The truth is, few people know the answer because life circumstances are constantly changing.
Finding YOUR Answer -By Playing “The Game.”
Imagine your financial journey as a football game. Success isn’t just about luck- it requires strategy, teamwork, tools, and a willingness to listen to your coach.
No matter what phase of the “financial game” you are in, you’ll need to choose the right team and tools to reach your objectives. For example, your game plan could be putting money away for retirement, building a real estate mini-empire, or starting a business to grow wealth. There are great local resources to help you understand your options and determine what tools work best for you.
As you put your tools to work, you need to have awareness of any challenges ahead and have mechanisms in place to track and monitor progress. Just like in football, you can’t win every down. You will have cold stretches and warm stretches, so prepare and be ready to adjust. The team with better situational awareness is more likely to win the game. Have your coaches working to help limit damages and maximize opportunities to get ahead. Rely on your team to help you stay committed and patient so you can make consistent smart decisions tailored to your changing situation and needs along the way.
So, how do you know when you’ve won?
Unlike a football game, there is no confetti falling from the sky signaling a finite end. Winning the financial game looks different for everyone. For some, it means early retirement and world travel; for others, it means securing a comfortable home and helping loved ones. The true measure of financial success lies in the freedom, security, and fulfillment you experience- not just the size of your bank account.
Now it’s time to prepare for what comes next. What’s the next championship you want to chase?
The game isn’t over when you win- it evolves. You’ll need to have a flexible plan (financial and personal) to prioritize what is important to you. Key points of consideration are:
- Financial Freedom and Resilience. It is not necessarily how much money you have, but about the cash flow you need to reach your goals now and in the future. You’ll need to rely on diversified income streams to support your lifestyle without a paycheck. Now that you’ve built wealth, you’ll need to protect it; making sure it can withstand economic downturns, health emergencies, and life’s curveballs.
- Daily habits. Society often paints a picture of what retirement looks like for us. In my experience, clients who have a daily activity plan are the happiest and live the longest.
- Finding Enrichment. Stack your calendar with things that are enriching like volunteering, church, or whatever “fills your bucket.” I have had many clients even start a business in retirement because they got “tired of the couch”. Spend your time and money on meaningful experiences.
- Personal goals—Understand your timelines and priorities. You can’t predict what challenges you’ll face in retirement. If you want to travel, it is best to do it before your knees stop working.
Set your priorities, gather your tools, and develop your game plan with your trusted advisors to discover your “What Comes Next” so you can continue winning for years to come.
Michael A. Kalloz, CFP®, CRPC™, Vice President/ Investments, STIFEL
Heltzel Kalloz Financial Advisory Group
The Heltzel Kalloz Financial Advisory Group is a team of dedicated financial services professionals who are well qualified to serve you. Together, we offer you the benefits of our more than 55 years of combined industry experience, training, and knowledge. We are also devoted to providing you with exceptional personal service that exceeds your expectations.
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