This article is part one in our three-part series on “The Foundation FORMula,” Paul Axberg’s exclusive wealth management process.
- Discovery
- Design (Coming Soon)
- Deployment (Coming Soon)
When it comes to finances, most people think first about numbers—income, savings, or investments. But lasting financial clarity doesn’t start with spreadsheets. It begins with understanding what matters most in life and how money can serve those priorities.
That’s why the first step in our 3 step process is “Discovery”. By taking time to reflect on where you are today and where you’d like to be tomorrow, you create a foundation that makes decisions clearer and more intentional. Our framework for this step is called the FORMula, and it brings what matters most to the big picture.
Why We Start Our Wealth Management Process With Discovery
The discovery stage isn’t about charts and numbers, but rather about clarifying goals. The objective is to understand your priorities before exploring strategies.
In a discovery meeting, the focus is on:
Sorting through goals and values
Identifying what matters most to you
Clarifying both short- and long-term priorities
By starting here, the path ahead becomes easier to navigate, since you have a goal in mind.
Family & Relations
For many people, family is the heart of financial decision-making. Whether it’s providing for children, supporting aging parents, or strengthening a marriage, financial planning often begins with the relationships that matter most. A thoughtful plan looks at how your resources can create stability, opportunities, and protection for loved ones.
Legacy and financial estate planning play a key role here. Without a clear structure, wealth may not transfer as intended, creating unnecessary stress or even conflict. By organizing assets in advance, you can ensure that children or grandchildren benefit in meaningful ways, while minimizing potential tax burdens.
Insurance also fits into this picture. Life, disability, and long-term care coverage are tools that can provide stability when unexpected challenges arise. Instead of leaving family members exposed to sudden financial strain, insurance creates a safety net that allows them to focus on care and connection.
Complex family dynamics may also come into play. Blended families, multiple generations under one roof, or responsibilities to siblings and relatives all add layers to financial planning.
At its core, planning for family is about preparing for tomorrow, and keeping your family protected under various circumstances.
Occupation & Income
Income is the foundation that supports nearly every financial choice. A thoughtful plan doesn’t just account for today’s paycheck, but also considers how your work and earnings may evolve over time. Understanding both current income and potential changes helps guide decisions across saving, investing, and lifestyle priorities.
Key considerations include:
Career transitions: Promotions, changing jobs, entrepreneurship, or preparing for retirement can significantly alter cash flow and risk exposure. Planning for these transitions can help smooth out financial bumps.
Income sources: Beyond salaries, income may come from business profits, bonuses, rental properties, pensions, Social Security, and retirement account distributions. A clear picture of these streams allows for better resource allocation.
Tax planning: Income decisions are closely tied to tax strategies. Coordinating deductions, retirement contributions, and investment timing can reduce tax impact over the long term.
Contingency planning: Unexpected changes, such as job loss or shifts in market conditions, make it essential to have strategies that maintain stability without sacrificing long-term goals.
Integration with life goals: Income planning isn’t isolated—it informs decisions in Family, Recreation, and Money. By understanding earning potential and limits, you can align financial actions with the broader FORMula framework.
Ultimately, occupation and income create the engine that drives all other financial planning, linking daily decisions to long-term objectives.
Recreation & Hobbies
Financial planning isn’t only about obligations—it’s also about creating space for enjoyment, personal growth, and experiences that make life meaningful. Being honest about what you want to do, whether it’s traveling, pursuing hobbies, or dedicating time to creative projects, helps align spending with your personal priorities.
Key considerations include:
Flexibility: Plans can be designed to adapt to changes in interests, schedules, or unexpected opportunities. A rigid budget may protect finances but limit options.
Routine integration: Allocating resources for recreation can become part of regular life, from weekly hobbies to annual trips.
Balance with other goals: Recreation can coexist with savings, family responsibilities, and career objectives, rather than competing with them.
Prioritizing what matters: Clearly identifying activities that bring fulfillment allows informed choices about where to spend both time and money.
Incorporating recreation thoughtfully helps financial planning reflect the full picture of life, supporting both responsibility and enjoyment. Wealth can support experiences and passions that contribute to personal satisfaction.
Money & Savings
Managing money and savings provides the structure that supports both daily life and long-term plans. While other areas of financial planning focus on family, career, and personal interests, money management forms the backbone that allows those priorities to coexist.
Key considerations include:
Cash flow management: Keeping track of income and expenses helps maintain balance and may provide more confidence around day-to-day decisions.
Emergency reserves: Having accessible funds for unexpected events can create flexibility in choices without disrupting other priorities.
Investments and long-term savings: Strategies for growth or preservation can be aligned with career plans, family responsibilities, and lifestyle goals.
Integration with other FORM areas: How money is allocated affects family support, recreation opportunities, and career transitions, making financial planning a connected process rather than isolated pieces.
By approaching money and savings thoughtfully, it becomes possible to create a financial framework that interacts with and supports each of the other areas in the FORMula. This foundation provides a clearer view of options, trade-offs, and potential pathways in both the short and long term.
Why The FORMula is Such A Powerful Tool
When Family, Occupation, Recreation, and Money are considered together, financial planning moves from isolated decisions to a connected approach. Each area informs the others, creating a clearer picture of priorities, trade-offs, and potential choices. Viewing finances through this framework can help align daily actions with broader life goals, making it easier to balance responsibilities, pursue personal interests, and navigate changes with greater perspective.
Reflecting on your own FORMula can be a useful first step in understanding how your finances interact with your life priorities. Consider taking time to outline your goals and values across Family, Occupation, Recreation, and Money. If you’re interested in learning more about the Axberg Foundation FORMula for wealth Management, request a Fit Meeting with Paul Axberg today!
Disclosures
Content provided through a collaboration with Paul Axberg and Schnebly Hill Digital Marketing. This content was generated using the help of AI research, and is intended for informational purposes only. Please consult a qualified professional for personalized advice. For specific estate planning advice, please consult a qualified estate planning attorney.