JW’s Financial Coaching Podcast Lesson #25-The 4-1-1 on eFinPlan and Financial Planning with guest Kent Irwin


Highlights of today’s show:

  • The “4-1-1 on” series continues with guest Kent Irwin
  • Kent has over 30 years of Financial Planning Experience
  • Kent was urged to create eFinPlan by his wife
  • eFinPlan is a web-based application that allows you to input your financial data and get a comprehensive financial plan
  • Learn how to earn 15% off when using eFinPlan

The 4-1-1 series continues today with a review of eFinPlan and financial planning with guest Kent Irwin. eFinPlan is a web-based application that allows you to input your financial data and get a comprehensive financial plan report. Kent first got the idea to create eFinPlan from his wife who asked Kent one day what is out there for people who can not afford to hire a financial planner. When Kent said there was really nothing, that’s when the idea started to form. It went live July 2007 and has been helping people ever since.

I have written a blog post on how eFinPlan works but it is quite simple. First you input all your basic financial information such as your income, assets, debt, and insurance policies. Then you answer questions related to your spending habits, retirement plans, and investing beliefs. This is good because it forces you to think about these items as you enter them into the system.

After inputting all your financial information and determining your views of money, eFinPlan then produces a 65 page report. The report has different sections including a net worth projection, insurance explanation, college planning, retirement simulation and more. It doesn’t just provide information and projections, it also educates you on why it is important to reduce debt, save more, and budget your income. Kent likes to remind people that filling out the information and looking at the report is investing in your future and gets you prepared to reach your financial goals. The good thing about eFinPlan is that you can change your information at any time whenever something changes in your life.

From Kent’s experience, there are four ways that people are lacking when doing a financial plan: 1.) They are not budgeting properly 2.) Not having adequate life insurance 3.) Not investing as much as they need to 4.) Having too much debt.

eFinPlan has a 30 day free tryout period. In addition, to receive 15% off the purchase price please use the coupon code JonW1 when checking out. In addition to running eFinPlan, Kent blogs about personal finance at the following sites:

“Personal finance is not related to numbers, it’s related to habits” ~ Kent Irwin

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If you have any comments, questions, or ideas for future shows you can send them to me and I will integrate them into a future show. There are two ways to get in touch with me: 1.) Email me at JWFinancialcoaching@gmail.com – Please put “podcast” in the subject line and keep your questions brief so they are readable on air. 2.) Simply fill out the form on the contact page. Please fill out your name, email, and your question/comment/suggestion and we will read it on air.

You can find prior editions of the podcast at the podcast archive page.

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