Simplifying Financial Planning: The Power of the ‘Now Money, Later Money, Never Money’ Framework

Kelly Olczak, an advisor in Rochester, New York, developed a way to help clients think more clearly about their savings. The framework—which she calls the “Now Money, Later Money, Never Money” framework—also helps clients make decisions about how to use the money they’ve put aside.

The evolution of a framework

Kelly’s journey with the “Now Money, Later Money, Never Money” framework began organically through years of client conversations. As a former technology professional who transitioned to financial advising in 2005, she understood the frustration of complex systems that don’t translate to real-world understanding.

Kelly: “This framework has always been part of the practice. We just did not articulate it. We didn’t put our finger on it until we really started to figure out who is a good fit for us and who do we love working with.”

The breakthrough came during a website redesign process about two and a half years ago. As Kelly worked through how to communicate her firm’s value proposition, she realized that all financial planning ultimately comes down to one thing.

Kelly: “It just dawned on me that really financial planning is all about cash flow. Financial planning is cash flow. That’s basically what it is.”

This realization led to the formal articulation of what had been an implicit part of her practice. The framework divides a client’s financial life into three clear categories: money needed now for current expenses, money needed later for retirement, and money that will never be needed—the legacy component.

Making money meaningful through categorization

The power of Kelly’s framework lies in its ability to transform abstract financial concepts into concrete, purposeful categories. Rather than viewing their portfolio as a single entity, clients learn to see their money as serving specific functions.

Kelly: “Money’s just a blob until you identify what it’s supposed to be.”

The “Now Money” category covers current living expenses and short-term needs. “Later Money” represents retirement funding and future lifestyle goals. “Never Money” encompasses legacy planning and wealth transfer objectives.

This categorization helps clients understand not just how much money they have, but what each dollar is meant to accomplish. Kelly has found this particularly powerful when addressing client anxiety about market volatility or major life transitions.

Kelly: “I’ve got another client, and she’s always been a top performer…. She’s got more money than she’ll ever spend. And I just sent her an update on her plan saying, ‘Honest to God, you could do this.’ It’s a permission slip.”

Transforming client review meetings

The framework has fundamentally changed how Kelly conducts client review meetings. Instead of focusing primarily on portfolio performance or market conditions, conversations now center on whether clients are on track to fund their various money categories.

Kelly: “It’s not just about money. It’s about attaching that blob of money. What’s it supposed to do, attaching earmarking parts of their portfolio to a project?”

This approach has proven especially valuable for client’s approaching retirement who struggle with the transition from accumulation to distribution. By clearly defining what money serves which purpose, clients gain confidence in their ability to maintain their lifestyle and pursue their goals.

The framework also addresses one of Kelly’s biggest challenges: getting clients to complete detailed expense tracking. By explaining the “why” behind the exercise through the lens of “Now Money, Later Money, Never Money,” client compliance has improved dramatically.

Kelly: “I know you hate doing this, but if you give me your expenses, and this is a no-judgy zone, I’ll be able to understand how much money you need now. And then later on, when you are in retirement, we’ll know what your everyday spending is like.”

Scaling through artificial intelligence

Recognizing the power of her framework, Kelly began exploring ways to scale its impact beyond one-on-one client meetings. Her solution came through strategic use of artificial intelligence, particularly ChatGPT, to create consistent, on-brand content that reinforces the framework across all client touchpoints.

Kelly: “It has allowed me to pivot to write something that sounds like me, that is me, but it doesn’t take me two weeks to write because then the moment’s over.”

Kelly’s AI approach focuses on maintaining authenticity while achieving efficiency. She uses AI to help craft newsletters, webinars, and educational materials that consistently reinforce the “Now Money, Later Money, Never Money” concepts.

The AI integration has been particularly valuable for timely market commentary. When market events create client anxiety, Kelly can quickly produce educational content that addresses concerns through the lens of her framework.

Kelly: “When something unexpected happens in the market, I will ask Perplexity to go out and say: ‘Give me four or five articles from well-known money managers.’ And then I’ll take those and pull ’em into [ChatGPT] and I can turn something around in the afternoon, what to worry about and what not to care about.”

Building systems for consistency

One of Kelly’s most innovative applications has been creating video content that explains complex financial concepts in accessible terms. After discovering that one of her long-term clients wasn’t reading her detailed written communications, she adapted her approach.

Kelly: “I took my trade memo, I uploaded it. I said, ‘I need a 92-second video of this.’”

The AI helps Kelly create scripts that translate technical investment commentary into language that aligns with her framework. These videos consistently reinforce the “Now Money, Later Money, Never Money” concepts while addressing current market conditions.

Kelly has also developed templated processes that allow her to efficiently create content across multiple platforms—newsletters, webinars, social media posts, and client updates—all maintaining consistent messaging and visual branding.

Client response and practical impact

The response from Kelly’s clients has been overwhelmingly positive. The framework provides clarity that was previously missing from financial planning conversations.

Kelly: “People are definitely engaged. Even the kids are getting engaged now.”

Beyond engagement, the framework has practical benefits. Clients are more likely to complete required paperwork, participate in planning exercises, and make decisions confidently. They understand not just what they should do with their money, but why.

The approach has been particularly effective for clients facing major life transitions. Whether it’s early retirement, major purchases, or family changes, the framework provides a structure for decision-making that clients can understand and apply.

Kelly: “I’ve got a client who retired very young, and he and his wife live in Florida. … He called me and said, ‘So I don’t know when we’re going to do it, but we’re going to need $25,000 for the roof.’ I don’t want you taking out of the IRA, but I want you to set it aside…and he was able to breathe.”

The competitive advantage of simplicity

Kelly’s experience demonstrates that in an industry often focused on complexity and sophistication, simplicity can be a significant competitive advantage. Her framework succeeds because it makes financial planning accessible without being simplistic.

The combination of clear conceptual framework and efficient content creation has allowed Kelly to maintain high-touch relationships with her carefully selected client base while building systems that could potentially serve many more clients.

Kelly: “I don’t want new clients as much as I want to keep the ones I have and make them really happy and make sure I’m listening to what they want to hear.”

This focus on client retention and satisfaction, enabled by clear communication and consistent education, represents a sustainable approach to practice growth.

Getting started with framework thinking

For advisors interested in developing their own version of Kelly’s approach, she recommends starting with the fundamental question of client communication clarity.

Kelly: “Here are the things I wish I had a magic wand to fix. That’s a really good place to start because it resonates.”

The key is identifying the core concepts that clients struggle to understand and finding simple, memorable ways to communicate them. Kelly’s “Now Money, Later Money, Never Money” framework succeeded because it addressed a universal client challenge—understanding what their money is supposed to accomplish.

The AI component comes secondary to having a clear message. As Kelly notes, technology amplifies and scales communication that is already effective, but it cannot create clarity where none exists.

Kelly: “This isn’t going to replace advisors at all. Not in the least, not if you’re a very good advisor. I think it’s allowing us really to increase the level of intimacy we have with our clients.”

Looking ahead

Kelly’s framework represents more than just a communication tool. It’s a philosophy that puts client understanding at the center of financial planning. By making complex concepts accessible and using technology to scale personalized communication, she has created a model that other advisors can adapt to their own practices.

The combination of conceptual clarity and technological efficiency has positioned Kelly’s practice for continued growth while maintaining the personal relationships that define successful financial advisory services.

Kelly: “It’s definitely tweaked my creative side for sure.”

As artificial intelligence tools continue to evolve, advisors like Kelly who have learned to combine clear thinking with smart technology will likely find themselves with significant competitive advantages in building practices that truly serve their clients’ needs.