My financial life has had many ups and downs. I know what it’s like to be a cash-strapped college student, to get a decent job in corporate America, and also to take on the challenges of entrepreneurship. The thing that really transformed my way of thinking in regards to finances was working in the financial services industry. As a former stockbroker and registered investment advisor I was able to speak to people at all points in their financial journey.
I was able to speak to recent grads starting out, who were trying to figure out what to do with their new salaries. I was able to speak to parents, who knew tuition would skyrocket and wanted to plan for their kid's education. I was able to speak to soon to be retirees who had worked diligently their whole life to amass their nest egg and wanted to protect it so that they could enjoy retirement. On the other hand, I also spoke to people who could never retire, who struggled to make ends meet, and who had made horrible decisions when it came to managing their finances.
The thing that really put a spin on my perspective was working in a specialty group that helped people to transition assets once a death had occurred. At the end of one's life all the material things, financial gains, and experiences will really tell quite a story. But what will that story say? What will what you have accumulated in life say about you as a person or your experience here on Earth. It’s easy to look at a bank account and see hundreds, thousands, and maybe even millions of dollars. It’s easy to look at a garage and see cars, boats, bikes or an RV. It is also even easy to look at pictures of trips taken and places visited to think about the experience gained. But what do these things really say about the way you lived.
Ultimately the reason that I believe Financial Health matters is because it has such a huge impact on the way you live. At the end of the day the thing you need to have a healthy financial life is the same thing you need to have a healthy life, and that’s balance. Many individuals get so focused on one aspect of managing their finances that they stop seeing the forest for the trees. Some of the areas where people get hung up in managing finances include debt, savings, and retirement planning. Paying attention to the pain points for you financially is not a bad thing, but it must be done with balance.
You can focus so much on cutting down debt or saving money, that you never use any funds to enjoy yourself. Some people plan diligently for retirement saving relentlessly, only to pass away before retiring and enjoying the fruits of their work. So to be healthy financially you must plan as diligently for tomorrow as you live for today. So take a moment, to be honest with yourself about your finances. Then take an inventory of your debt, savings, and goals. Then look at ways to meet your financial goals and practice healthy financial living.
I was able to speak to recent grads starting out, who were trying to figure out what to do with their new salaries. I was able to speak to parents, who knew tuition would skyrocket and wanted to plan for their kid's education. I was able to speak to soon to be retirees who had worked diligently their whole life to amass their nest egg and wanted to protect it so that they could enjoy retirement. On the other hand, I also spoke to people who could never retire, who struggled to make ends meet, and who had made horrible decisions when it came to managing their finances.
The thing that really put a spin on my perspective was working in a specialty group that helped people to transition assets once a death had occurred. At the end of one's life all the material things, financial gains, and experiences will really tell quite a story. But what will that story say? What will what you have accumulated in life say about you as a person or your experience here on Earth. It’s easy to look at a bank account and see hundreds, thousands, and maybe even millions of dollars. It’s easy to look at a garage and see cars, boats, bikes or an RV. It is also even easy to look at pictures of trips taken and places visited to think about the experience gained. But what do these things really say about the way you lived.
Ultimately the reason that I believe Financial Health matters is because it has such a huge impact on the way you live. At the end of the day the thing you need to have a healthy financial life is the same thing you need to have a healthy life, and that’s balance. Many individuals get so focused on one aspect of managing their finances that they stop seeing the forest for the trees. Some of the areas where people get hung up in managing finances include debt, savings, and retirement planning. Paying attention to the pain points for you financially is not a bad thing, but it must be done with balance.
You can focus so much on cutting down debt or saving money, that you never use any funds to enjoy yourself. Some people plan diligently for retirement saving relentlessly, only to pass away before retiring and enjoying the fruits of their work. So to be healthy financially you must plan as diligently for tomorrow as you live for today. So take a moment, to be honest with yourself about your finances. Then take an inventory of your debt, savings, and goals. Then look at ways to meet your financial goals and practice healthy financial living.