My name is Derick Coffey and since the age of 12, money has always been my passion. The idea of making money, having money, and growing money has always fascinated me, and I also happen to have a knack doing those things.
Who am I?
Locally, people know me as the coffee guy. My wife and I own a coffee shop in our local community. Despite my last name, the coffee business was not something I ever planned to be involved with. I always assumed it would be in finance.
I graduated from Virginia Tech in 2010 with a degree in finance, spent 4 years in the Army doing Intelligence work, and then spent parts of the next nine years in the finance industry, while running our coffee shop. I have a very diverse background in finance. I have held licenses to sell Personal Insurance, Commercial Insurance, and Life and Health Insurance, and from 2021 - 2023 I was a licensed financial advisor.
I have seen a lot over the last nine years, both good and bad, when it comes to people and their finances. The common theme was that the bad came from the lack of education regarding personal finances. Obviously, our economy cannot thrive with a population that is overly educated about money. So, the education system cannot be incentivized to teach about personal finance the way they are to teach about math beyond basic Algebra and Geometry.
The point of my content will always be to educate. I am not an educator by any stretch of the term. The way I relay information is straight-forward, and I struggle with bedside manner. I cuss a lot. But I am passionate about educating.
What do I Plan to Educate On?
All of it. From the basics of building a personal budget to building a local coffee shop that does over $600,000 per year in business, I plan to tell you everything.
We will start with the mundane stuff: Budgeting, Insurances, Taxes, Debt, Credit Score. It is boring, it is dry, but it is necessary to understand these things so that you make informed decisions along your financial journey. We will move on to building your wealth. Then we will cover the most talked about part of finance: Retiring. Along the way, I will give you thoughts and opinions on the information based on my personal experience or experience of others, and I plan to continue adding content as I come across more situations.
Then I plan to start back at square one and explain how my wife and I built our business. You might be surprised at how similar the finances of a person and business are, just on a slightly larger scale. Starting from the beginning I will walk you through everything: the way we came up with the numbers, the way we hire, the way we operate, why we say NO to customers, the way we manage inventory, all of it.
What about FwP?
FwP was the brainchild of myself and Ryan Miracle. Ryan has been a mentor to me since I joined the finance industry and is the most brilliant financial advisor I have ever met. Ryan and I worked together at two of the larger firms in our area. Over that time, we found that the way we think financial planning should work, compared to the sales mentality that runs rampant throughout the financial advising industry, clashed. Because of this, we opened our own practice.
During that time, we streamlined our operations to avoid becoming those other firms. We took clients through a planning process that the other firms were not able to offer, either due to lack of ability or because they had too many clients. We built portfolios that the client could easily understand. We educated many of our clients on basic financial topics that they had never learned. After doing this over and over, we figured out that educating people on the basics of personal finance was the most important thing to do as a Financial Advisor. And that is why I got rid of my license.
There are things that need to be said, and the license created a roadblock to getting that information out the way I think it should.
I want you to keep in mind that all the information that I put out is meant to be for educational and informational purposes ONLY. It should not be taken as “professional advice”, and you should seek licensed professional help for any decision you plan to make regarding your own investment, tax, or legal situation.
How does FwP Operate?
You should view FwP as a consulting firm, with its focus being on financial education. I purposefully make it difficult to work with me directly. For most of the people that my content will connect with, they do not need me, they just need education. In the worst case, my goal is that working with me directly is only because there is a need for accountability.
Ways to get the Information
The Content
All the content I create is free. Just watch it or read it. The information I refer to in the content is the same information I would refer to if I worked with someone individually. So why pay for the same information that I am giving away for free, other than for accountability?
Nothing I am saying is revolutionary, or ground-breaking, it is the same information you have heard, over and over, but from a different perspective.
The Courses
If you need more structure to your learning experience, or want access to the excel sheets, checklists, and flow charts that I reference in my content, then take our FwP Foundations Course.
The course is comprised of twelve (12) lectures. It will take you through the basics of budgeting, how to determine your retirement number, and everything in between.
The cost of the FwP Foundations Course is $149. You will be automatically enrolled as a member of FwP, giving you unlimited access to the course, its materials, all updates, and the Resource Center.
If you are within five (5) years of retirement, we also offer our FwP Preparation Course. (Coming soon!)
The FwP Preparation Course is comprised of eleven (11) additional lectures, designed to help you build a retirement income plan that makes the most sense for you.
The cost of the FwP Preparation Course is $199. (To gain access, you must purchase the FwP Foundations Course AND be an FwP member.)
The Membership (automatically enrolled as a member with purchase of course)
If you purchase the FwP Foundations Course, you can use coupon code 60DAYS for a discount worth two (2) months of free membership. My goal is that during these 60 days you will have enough time to absorb the information and help you transform your finances.
If you need more time, or would like continued access to the course, updated versions of the courses, the course materials, and the entire Resource Center, then maintaining your membership beyond 60 days is the way to go. The cost of the FwP Membership is $7.99 per month.
One on One Services (You must be a member and purchase the course(s) for each level)
If you purchase a course and would prefer to have me help guide you through it, then a one-on-one consulting package is right for you. I am not cheap, but I will walk you through all of it.
Disclaimer: WE WILL NOT DISCUSS INVESTMENTS. As part of our engagement, I will accompany you to a meeting with your financial advisor, or help you find a licensed professional, but I WILL NOT DISCUSS INVESTMENTS. Please keep in mind you may incur additional costs when meeting with an advisor.
There are two options for One-on-One Services:
FwP Foundations Consulting Package
(You must be a member and have purchased the FwP Foundations Course)
If you are just getting started on your financial journey, or needing to improve your current situation, then this package is for you.
The topics we will cover include:
- Current Budget and Cash Flow
- Debt Reduction Strategies
- Risk Managment and Insurance Analysis
- Employer-benefit maximization
- Basic Estate Planning
After building your custom plan, we will meet monthly over the course of four (4) months, to ensure the plan we have built is working. The cost of this package is $1,500. Upon agreeing to work together, $750 will be due. This covers the set-up fee and the first month's payment. The other $750 will be paid over the remaining 3 months. ($250/month)
FwP Preparation Consulting Package
(You must be a member and have purchased both the FwP Foundations and Preparation Courses)
If you are within five (5) years of retiring, then this 4-month engagement is for you. We will dive deep into your current financial situation, as well as project what you can expect in retirement.
The topics we will cover include:
- Current Budget and Cash Flow
- Projected Retirement Budget and Cash Flow
- Debt Reduction Strategies
- Risk Managment and Insurance Analysis
- Social Security Optimization
- Tax-efficient Withdraw Strategies
- Basic Estate Planning
After building your custom plan, we will meet monthly over the course of the next six (6) months, to ensure the plan we have built is working. The cost of this package is $1,800. Upon agreeing to work together, $900 will be due. This covers the set-up fee and the first month's payment. The remaining $900 will be paid over the remaining 3 months. ($300/month)
Check-in Meetings (You must be a member, and be a previous One-on-One Service client)
If you have gone through a one-on-one service option, you may want to check-in periodically to make sure that your plan is still the best fit for you. During the check-in meeting you have my undivided attention for two (2) hours.
During this time, we will go over the plan you have in place and look for ways to make it even better. This meeting is meant to evaluate your progress and make changes to your plan as time goes on. The cost for a 2-hour check-in meeting is $300.
To book a check-in meeting, email me at derick@fwplanning.com. I will confirm your membership status, and course completion certificate, then send you a link to my calendar. There will be a non-refundable $100 booking fee.
If the way I relay information resonates with you, then feel free to share it. I want people to hear about money from someone who is mildly successful, at best, and certainly not a millionaire… yet. I will invariably step on toes, piss people off, cause an argument, make people unsubscribe, and that is ok. All I can tell you are the things I know, from the experiences that I have had. Everyone’s story and situation are different, and this is mine.
Welcome to Financial Wellness Planning. Welcome to something different.
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