Episode•October 17, 2024•17 min

Insights into Financial Health with Expert Justin Chastain | Ep. 346

In this insightful episode, Tiffany Grant welcomes Justin Chastain, a seasoned Certified Financial Planner (CFP) and Accredited Financial Counselor (AFC). With a blend of personal anecdotes and professional expertise, Justin shares his journey into the world of financial planning, punctuated by the emotional experiences that shaped his career path—most notably, the impactful lessons from his late mother. Check out the full show notes: https://moneytalkwitht.com/podcast-show-notes/financial-planning-with-empathy/ Key Topics Discussed Justin's Journey Justin's personal story and why he chose to become a financial planner. The emotional drive behind his mission to help others manage their finances. Living with Purpose The importance of aligning financial habits with personal values. The philosophy of “Don’t buy green bananas” and its meaning in financial planning. Mental and Physical Health The interconnectedness of mental, physical, and financial health. How life events can influence financial habits and the importance of balanced living. Choosing a Financial Planner Key questions to ask potential financial planners. Understanding fiduciary duty and transparency in financial advisory services. Insights for Financial Well-being Balancing debt freedom with living a fulfilling life. Strategies for ensuring your financial choices align with your life goals. Episode Highlights Justin emphasizes the importance of giving your dollar a purpose and empowering it to work for you. His expertise on making financial planning enjoyable and less daunting for clients. How to identify a trustworthy financial advisor and ensure their interests align with yours. Tiffany and Justin discuss the significance of being authentic both in life and in financial planning. Justin Chastain, CFP, AFC Email: [email protected] LinkedIn: Justin Chastain Company: Parallel Financial Tiffany Grant Website: Money Talk With Tiff Social Media: @moneytalkwitht Additional Resources Learn more about financial planning at Parallel Financial Subscribe to the podcast for more financial insights and advice. Don't forget to subscribe, rate, and review the Money Talk With Tiff podcast. Share this episode with friends and family who might benefit from Justin's valuable financial planning insights. This podcast uses the following third-party services for analysis: Podcorn - https://podcorn.com/privacy OP3 - https://op3.dev/privacy

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Key Takeaways

1
Align financial habits with personal values for a fulfilling life
Justin emphasizes giving your dollar a purpose and empowering it to work for you
Financial planning should maximize what you value rather than restrict what you can do
Balance debt freedom with living a life worth living—it's possible to have both
2
Mental, physical, and financial health are interconnected
When mental and physical health decline, financial habits tend to follow
Stress is the number one reason for declining life expectancy across generations
A good financial planner focuses on helping clients live their best life, not taking away from it
3
Don't wait for 'golden years' to live fully—'Don't buy green bananas'
Justin's mother taught him not to postpone meaningful experiences
The only thing golden in your golden years is your urine
Life is finite; make choices that align with what you truly value now
4
Vet financial planners with three key questions for transparency and alignment
How do you get paid? (Ensure majority of income comes from planning, not hidden fees)
Who do you work for? (Look for true fiduciary duty via engagement letter)
What is your investment strategy? (Avoid planners pushing glamorous strategies before understanding your needs)
5
Authenticity and servant leadership create impact in financial advising
Justin shares personal vulnerabilities to connect with clients
Continuing education and giving back (teaching for Dalton) keeps advisors sharp
Clients benefit when advisors prioritize their values over chasing credentials

Intro

Tiffany Grant interviews Justin Chastain, CFP and AFC, about his personal journey into financial planning and the emotional lessons that shaped his empathetic approach to helping clients align money with life values.
Justin Chastain is a Certified Financial Planner (CFP) and Accredited Financial Counselor (AFC) at Parallel Financial in Greenville, South Carolina. His career was profoundly influenced by his mother's illness and passing, inspiring his mission to help families avoid financial stress during life's most difficult moments.

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– Justin's Personal Journey into Financial Planning

Justin's motivation stems from his mother's illness and early passing at age 62. Her mantra 'Don't buy green bananas' taught him not to wait for retirement to live fully. After dealing with grief and realizing many families lack financial plans, he committed to helping others so money worries don't compound life's hardships.

I could not imagine needing to be in this moment for the people that you care about and vice versa, them for you. And you have to worry about something as dumb as money.
– Justin Chastain

– Living with Purpose: The 'And' Philosophy

Tiffany and Justin discuss moving beyond the 'or' mindset (debt freedom OR living fully) to an 'and' approach. Justin stresses that good financial planning aligns resources with stated values rather than imposing restrictions. He shares how his mentor challenged him to stop undervaluing himself financially during a difficult period.

Do you value Verizon Wireless more than yourself? Because on paper, that's exactly what you're saying.
– Justin's mentor

– The Interconnection of Mental, Physical, and Financial Health

Justin explains that when mental and physical health decline, financial habits deteriorate too. Research shows the unhappiest working years in the US are late 40s to late 50s, often due to chasing early retirement at the expense of family and health. A good planner helps clients create 'and' statements that support their values across all life areas.

– How to Choose a Trustworthy Financial Planner

Justin outlines three essential questions to ask potential planners:

How do you get paid? (Majority should come from planning fees, not hidden sources)
Who do you work for? (Seek true fiduciaries with engagement letters stating they work for you)
What is your investment strategy? (Beware planners pushing strategies before understanding your situation)

– Transparency and Authenticity in Financial Services

The conversation closes with Justin's contact information and a reminder that many who call themselves financial advisors are actually salespeople. Tiffany and Justin emphasize the value of authenticity—both in life and in advising relationships.

Resources

Topics

financial planningfiduciary dutyvalues-based money managementmental health and financeschoosing a financial advisorlife purpose and moneygrief and financial decisionstransparency in financework-life balance certified financial planner