Rethinking Traditional Budgeting Methods with John Crane

Model FA Podcast

John Crane is an author, financial advisor, retirement income planner, and registered representative and financial advisor at Park Avenues Securities LLC. Before serving in the financial services industry, John held several posts at Sprint, including a Senior Government Account Executive role. In his book, The One-Number Budget, he helps readers with staying on track with a budget, simplifies the budgeting process, and explains lifetime cash flow. John holds a Master of Business Administration degree from George Mason University and received his Chartered Financial Consultant, Chartered Life Underwriter, and Retirement Income Certified Professional designations from The American College. John joins me today to discuss The One-Number Budget and how financial advisors can help clients shift their perspectives on budgeting for retirement. He describes his background and his path to the financial services industry. He details the disadvantages of traditional budgeting. John also highlights the lifetime perspective on cash flow to keep in mind when budgeting and underscores the power of serving others as your authentic self. “Traditional budgeting is a snapshot in time that only addresses the month, but there’s a lifetime perspective on cash flow you need to take into account.” - John Crane This week on The Model FA Podcast:

• The beginning stages of Crane Financial
• What made John look at budgeting from a different perspective
• How traditional budgeting elicits the feeling of scarcity from clients
• Executing the One-Number Budget in reality
• Why financial advisors are like psychologists
• How John guides clients who are unsure about the One-Number Budget
• The disadvantages of traditional budgeting
• The 30-year earning time
• Helping clients who have not or can’t save 20% of their income
• Working with the One-Number Budget worksheet
• Serving as your authentic self

Resources Mentioned:

• Book: Relentless: From Good to Great to Unstoppable by Tim S. Grover
• Book: Winning: The Unforgiving Race to Greatness by Tim S. Grover
• One-Number Budget Worksheet

Our Favorite Quotes:

• “I’m turning 33 shortly, and it’s like I’m so young and I’ve got plenty of time; but no, I’m 3 years into my ‘true’ earning years and I need to ensure I’m planning for the last 30 years of my life.” - David DeCelle
• “Advisors look for tips, tricks, and tactics, but often the biggest breakthroughs come when there’s a shift in mindset as opposed to using a new tool.” - David DeCelle
• “Once I got that permission slip to be myself and focus on helping people the way I think it should be done, my business started growing quickly. I started having more fun and became more effective.” - John Crane

Connect with John Crane:

• Crane Financial
• Book: The One-Number Budget: Why Traditional Budgets Fail and What to Do About It
• Crane Financial on LinkedIn
• John Crane on LinkedIn
• Email: [e-mail]

About the Model FA Podcast

The Model FA podcast is a show for fiduciary financial advisors. In each episode, our host David DeCelle sits down with industry experts, strategic thinkers, and advisors to explore what it takes to build a successful practice — and have an abundant life in the process. We believe in continuous learning, tactical advice, and strategies that work — no “gotchas” or BS. Join us to hear stories from successful financial advisors, get actionable ideas from experts, and re-discover your drive to build the practice of your dreams. Did you like this conversation? Then leave us a rating and a review in whatever podcast player you use. We would love your feedback, and your ratings help us reach more advisors with ideas for growing their practices, attracting great clients, and achieving a better quality of life. While you are there, feel free to share your ideas about future podcast guests or topics you’d love to see covered. Our Team: President of Model FA, David DeCelle If you like this podcast, you will love our community! Join the Model FA Community on Facebook to connect with like-minded advisors and share the day-to-day challenges and wins of running a growing financial services firm.

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This podcast is intended for general public use. By providing this content, Park Avenue Securities LLC and your financial representative are not undertaking to provide investment advice or make a recommendation for a specific individual or situation, or to otherwise act in a fiduciary capacity. ModelFA Podcast is not affiliated with or endorsed by PAS, Guardian, or Crane Financial and opinions stated are their own. John W. Crane, Registered Representative and Financial Advisor of Park Avenue Securities LLC (PAS). OSJ: 11350 McCormick Road, Executive Plaza III, Suite 202, Hunt Valley, MD, 21031, 667-318-0801. Securities products and advisory services offered through PAS, member FINRA, SIPC. Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. PAS is a wholly owned subsidiary of Guardian. Crane Financial LLC is not an affiliate or subsidiary of PAS or Guardian. CA Insurance License Number - 0G79065. Compliance # 2023- 155099, Exp 06/2024