If you were interviewing potential College Planning/Funding clients, do you think you could tell the difference? Which ones were aware they were facing an incredibly huge emotional and financial dilemma, were also willing to listen to carefully crafted written advice from industry leaders, with tons of experience, credentials, business savvy—and which ones were not?
There are many ways to do this, and this blog will help you determine who is and who isn’t a Strategic Thinker. Next, you will see two characteristics of the Strategic and the Non-Strategic Thinker. I have kept both of these bullet points on my computer for years. They have helped me determine where to put our firm’s best efforts and who to avoid like the plague. This may seem a little harsh, but over the years using this method has saved us time, money and heartache. I have rarely been disappointed with the process.
Let’s take a look at what I call the Strategic indicators. This list contains markers for those prospective clients who will achieve incredible success, be fun to work with and accomplish most of their family’s goals. Next, look at the second group: those families who will always second guess your advice, be the smartest ones in the room, and will ultimately blame you and your firm for their errors and missteps.
As you review this chart, think of some of your friends and fellow workers who embody these traits. I bet you can see their reactions to great advice. They will be continually skeptical, even if they are paying for the guidance. A few of these bullets really speak volumes of a person’s ability to think strategically.
After thousands of family interviews, it takes only about 10 minutes of talking with the first prospective client member to find out if he/she is Strategic. How they view themselves, how they treat others, how they manage their family assignments, and how they will follow a successful dynamic College Planning/Funding Plan.
The big takeaway here after years of publishing this conceptual theory is that the Strategic Thinking family will be and is much more emotionally and financially successful than the Non-Strategic Thinking family. The Non-Strategic Thinking family will grumble continually and make the same mistakes over and over again. They will bad-mouth excellent advice, have no alternative plan and eventually tell no one the real financial mess they have created.
As with most theories, by definition, none of us are 100% in one camp or the other. However, understanding what works and what doesn’t can often at least send us in the right direction.
And one final word of advice from somebody who knew a thing or two about Strategic Thinking and leadership:
“Continuous effort, not strength or intelligence, is the key to unlocking our potential.” - Winston Churchill
Mike Giffin, President
Our families of juniors say that high schools are advising students to wait until the spring to take the SAT/ACT for the first time. We say, don’t wait!
Plan to take the tests for the first time in the fall or winter. Give yourself enough time to study and retake the tests if needed. In fact, we encourage students to begin studying as sophomores. Many merit scholarships are dependent upon SAT/ACT scores, and the right kind of preparation can make a huge difference for you and your family.
So why are schools telling students to wait? These are some of the common misconceptions we’ve come across.
“You haven’t learned the math concepts yet.”
False! Most students have learned the main concepts they need by 9th grade. The majority of math problems on the tests require knowledge of simple algebra, percentages, ratios, basic linear equations, and properties of triangles and circles.
The SAT even provides students with a list of formulas at the start of every math section. So, if you can’t remember how to find the area of a triangle, you can simply turn to the first page!
The ACT is a bit more advanced because it will include a small number of questions requiring very basic trigonometry. But even if you’re not familiar with SOH-CAH-TOA, four questions (out of 60) won’t have a significant impact on your score.
If you’re having trouble with the math problems on the test, that’s simply because most of the math problems are worded in a tricky way. Once you decipher what a question is looking for, you’re meant to be able to solve it in less than 60 seconds. You don’t even need a fancy graphing calculator!
“Wait until you get your PSAT scores back.”
I hear this one all the time! Many students don’t even think about studying for the SAT/ACT until they see how they do on the PSAT. That’s a big mistake.
Typically, students don’t get their PSAT scores back until the middle of December. At that point, they’re looking at taking the SAT/ACT for the first time in the spring. That’s not a lot of time to start studying, take the test, wait for scores to come out, and then retake the test if needed.
If you wait until you have your PSAT scores, you are limiting your options. Remember, the tests are offered only a handful of times throughout the year, so planning ahead is key!
“You have time … college applications aren’t due until the fall of senior year.”
What’s wrong with this line of thinking? Let’s pretend I’ve registered to take the SAT for the first time in March of my junior year. I won’t see my scores until April. If I’m not happy with my scores, I now have very little time to prepare for retaking the test.
At this point, most students realize they have AP tests, college visits, prom, finals, and other end-of-the-year events coming up. It’s a very busy time of the year! Students can either cram in another test in June or wait until October to try to raise their scores.
Why is it not ideal to wait until October? Early applications are due in October/November, and students now have one chance to raise their scores to get into the colleges of their dreams.
Don’t let misconceptions about the test hold you back. Imagine how much better this scenario would be if I had first taken the test in the fall of the previous year, leaving myself ample time to study and raise my scores.
Remember …
Take advantage of our free SAT/ACT resources! Access your Method Test Prep account by logging in to your Career Cruising profile. When you click on “My Plan,” you’ll see a link on the left side that says, “Go to Method Test Prep.” There are 20 weeks of ACT lessons and another 20 weeks of SAT lessons, plus other resources. Best of luck studying!
Erin, Director of Student Services
Safety deposit box? Filing cabinet in your office with a simple key? A spare drawer in your kitchen? It seems as though everybody has their “vault” to store their very private, yet essential documents. Are your documents organized and easily accessible when you need to look up a statement balance or make sure your will is up to date?
If we were able to show you a tool that could keep all of these documents organized, easily accessible (even from your mobile device), and secure at all times, wouldn’t you be interested? Having a place where all of these important family documents can be stored is just as essential to having a financial plan. Read through a couple examples and relate it to your life. Think about where your documents are stored and if they’re safe and secure.
As I said earlier, most documents are stored somewhere not-so-safe. A drawer in a filing cabinet in your basement isn’t so safe if an event such as a fire were to tragically happen. This is where a secure, online website can become an advantage. Rather than be scrambling around to find a copy of your birth certificate you “think” you made 3 years ago, it would be easier to go to the “cloud” because you are certain that there is a copy in there.
What about your living will and power of attorneys? Should a medical emergency come up, trying to find these documents will be the last of your worries, and going to the attorney’s office to get a copy will not be necessary anymore. Medical and legal documents may be the first information to come to mind when thinking about keeping your documents safe, but what about valued family items, such as photos, appraisals of family jewelry, and those “secret” family recipes.
If you’ve been looking for a way to securely store this type of information so that your family has one less worry when the time comes to access these important documents, let us know. We can help you ensure that backups are safe, secure, and easily accessible when the time comes.
Chris, College Planning Specialist
October is PSAT month! Sophomores and juniors across the country are signing up to take the PSAT at their local high schools.
We know the PSAT often gets overlooked or misunderstood, and we don’t want you to make that mistake. Here’s everything you need to know about the PSAT.
Why take the PSAT?
If you’re a junior, the PSAT is the qualifying test for National Merit Scholarship Corporation scholarships. Students who score in the top 3% on the PSAT become eligible to receive National Merit Scholarships, corporate-sponsored merit scholarship awards, and college-sponsored merit scholarship awards.
If you’re a sophomore, the PSAT serves as a practice run for the next year’s PSAT, SAT, and even ACT. For many students, this will be your first time taking a college entrance exam. It’s a good opportunity to get a feel for this kind of test and start identifying areas for improvement.
What’s on the PSAT?
There’s a lot of overlap in content between the PSAT, SAT, and ACT. Like the SAT, the PSAT covers three subject areas: reading, math, and writing. However, the PSAT is a shorter test, at just over 2 hours of testing time. One nice thing is that there’s no essay section on the PSAT. The writing portion consists only of multiple-choice questions.
What does my score mean?
Students can earn up to an 80 on each subject area of the PSAT, for a total of 240. To translate your PSAT score to the SAT scoring scale, simply add a zero to the end of your score! For example, a math score of 58 on the PSAT is comparable to a 580 on the SAT.
With that said, the PSAT provides only an estimate of how you might score on the SAT. Keep in mind that the SAT is longer and a bit more difficult than the PSAT, so many students score higher on the PSAT than they do when taking the SAT for the first time. Your PSAT score is only a starting point that helps you identify which topics you need to study.
How can I prepare?
Use our free SAT resources! Access your Method Test Prep account by logging in to your Career Cruising profile. When you click on “My Plan,” you’ll see a link on the left side that says, “Go to Method Test Prep.” PSAT questions look just like SAT questions, so it’s a good idea to get familiar with them before taking the test!
Erin, Director of Student Services
