Is a Life Coach a Good Financial Move?

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SPRINGFIELD, Mo- Ellen Rohr joins us with tips on having or finding a life coach. 

What is a life coach? According to www.lifecoach.com Life coaches help people move forward, set personal and professional goals, make career and life changes. Like talking therapy? Yes, but may not be professionally licensed. Consultant? Coach? Sure.

Pros/Advantages:

  • Accountability, support, strategies, and tactics for growing your business, getting fit, getting unstuck
  • Who’s done what you want to do? Industry or business department specific…like Remit Sethi for wealth building and online business, Dave Ramsey to get out of debt. I’ve helped people clean up business financial messes and put biz plans together.
  • Start with a blog, book, webinar, seminar, and do your research.
  • Should be willing to connect you with clients, testimonials.
  • Be specific and behavioral in what you want. For example… Goal: Find a fitness routine and nutrition plan to support my life, activities.
  • Community!

Cons/Warning signs:

  • Do you really need someone with initials after their name? A doctor? A financial advisor or planner? A CPA or a lawyer? Get clear about what you need and want.
  • Experienced a serious trauma? Addiction or mental illness? Be careful. Do some research.
  • No drugs? Fair enough! What process would you be comfortable with?
  • Not covered by insurance.
  • No regulation. Be willing to NOT go in a direction you don’t want to go.

International Coach Federation does training, certifications.

  • No needs assessment? Don’t commit $20K in a group setting with no refund policy.
  • Know the way out before you go in. If it isn’t a good fit, how do you get out?

Costs: $200 to $1000 per month for 30-60 min calls 1-4 times a month. $100 – $500 per hour.

High end…$5k for 10 minutes. $1million per year for a personal guru.

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