Episode 369 - Will Your Plan Survive a Bad Year?

In this week's episode of Built For Life Not Just Wealth, Ryan Burklo discusses how to build a resilient financial plan that can withstand unexpected setbacks and market volatility, emphasizing the importance of liquidity, realistic risk assessment, and decision-making flexibility. He also highlights the value of preparing for multiple outcomes, so you're not forced into reactive choices when conditions change. By keeping your plan adaptable and stress-tested, you can stay confident and avoid making emotional decisions during uncertainty. Check out our website: https://www.builtforlifenotjustwealth.com/ Find us on YouTube: https://www.youtube.com/@builtforlifenotjustwealth/ Subscribe to our newsletter: https://www.quantifiedfinancial.com/subscribe-now Check out our Instagram: https://www.instagram.com/ryanburklofinance?igsh=ZTJzN3Jnajd5M2Mw Ryan Burklo's LinkedIn profile: https://www.linkedin.com/in/ryanburklo/ Alex Collin's LinkedIn profile: https://www.linkedin.com/in/alexandercollins/ For a quick assessment of your current financial life go to: https://www.livingbalancesheet.com/lbsVision/lite/RyanBurklo #BuiltForLifeNotJustWealth #financialplanning #resilience #liquidity #riskmanagement #marketvolatility #financialindependence #emergencyfund #decision-making #liferisks Takeaways A bad year can force bad decisions if your liquidity is insufficient. Building resilience involves understanding what could realistically go wrong. Access to cash allows for more risk-taking and flexibility. A resilient plan provides choices when things go wrong. Risk isn't just about bad things happening, but about having no choices. Chapters 00:00 Introduction: Why resilience matters in financial planning 01:54 The myth of a smooth financial journey 04:05 The importance of liquidity and access to cash 05:52 Identifying vulnerabilities in your financial plan 09:08 Decisions forced by income loss and market downturns 10:56 Building resilience without sacrificing upside potential 12:05 What part of your plan worries you most? 13:05 Conclusion: Creating a financial life built for life