George Kinder of the Kinder Institute wants everyone to be free. At first glance, the concept of personal fulfillment or enlightenment might seem more at home in the realms of religion or spirituality than personal finance. However, Kinder, the father of the 'life planning' branch of financial advice, has long advocated for the interconnectedness of finance and freedom. His new book, 'The Three Domains of Freedom,' delves into this very topic. In an interview, Kinder, who founded the Kinder Institute of Life Planning in 2003 after three decades as a financial planner and tax advisor, explained that certain goals profoundly inspire clients.

He is perhaps best known for his 'three questions,' designed to help people uncover the essence of their life goals. According to Kinder, once people identify these goals and visualize what their life would be like achieving them, they quickly and easily resolve financial problems. George Kinder spoke to CNBC about life planning and why he believes many people miss the point when it comes to managing their money. The interview has been edited and condensed for clarity.

According to Kinder, the basic premise of life planning is that financial planning should deliver clients into freedom. Every person has a dream of freedom and should be living it, regardless of their financial situation. The focus should shift from financial anxiety and tasks to the pursuit of freedom. When people concentrate solely on money, they lose sight of who they want to be and what they want to achieve.

Kinder believes that many people are blindly saving money or trying to amass wealth without really considering its purpose. This behavior, according to him, is endemic across civilization. Without a dream of freedom or a clear structure, financial tasks become tough to follow. The three questions help underline what is most important to people and how they can use their money to achieve those goals.

This method ensures that people keep their eyes on the prize, rather than losing themselves in mundane financial tasks. While Kinder acknowledges that standard financial advice, like saving a percentage of income for retirement, is not wrong, he argues that the focus should be on achieving freedom. He suggests rethinking terms like 'retirement' and instead aiming for freedom, which could happen in a year or six years and doesn't necessarily coincide with traditional retirement.

Kinder emphasizes not to postpone goals and ambitions until retirement and suggests proactively achieving freedom. This might involve incremental steps towards one’s larger goals, such as taking extended vacations or remote work arrangements to move closer to living in desired locations. This approach makes financial planning a part of actively pursuing freedom.

Kinder argues that the dream of freedom is not exclusive to those with financial means. He believes everyone has a dream of freedom and that discovering and pursuing this dream is more about passion and energy than money. His new book, 'The Three Domains of Freedom,' inspires readers to create their own life plan and emphasizes that freedom is experienced in the present moment. Mindfulness and being at peace with the present enhance decision-making, making financial planning more effective.

The book also expands on the concept of fiduciary responsibility, suggesting that if all institutions, from corporations to governments, acted as fiduciaries to truth, democracy, the planet, and humanity, it could address many societal issues. Kinder proposes holding these entities accountable to a higher standard of fiduciary duty beyond their self-interest.