Make health your priority when you create a financial plan

While my main role as my clients’ financial advisor is to focus on their economic health, I often counsel them on matters related to their physical, emotional and spiritual health as well. No matter how you define your retirement, you have to prepare for it by nurturing all four aspects of your life. The easiest aspect is the one that has inspired thousands of cottage industries in this country. But your physical health doesn’t require an acai berry shake, a thigh master or the latest how-to-lose-weight-and-eat-what-you-like book. It’s much simpler than that. Keep an eye on what you eat and include plenty of fresh fruits and vegetables. Pay attention to the source of your food as well. Exercise even if, like me, you don’t think you enjoy it. Try to get enough fresh air every day and enough sound sleep every night. Don’t avoid your annual checkups. Just as important as your physical health are your emotional health and spiritual development. Take time to nurture your friendships. We’re all busy, but we can and should find time to chat with our friends, play a little Bunco or enjoy a special meal. Value the time you spend with your family members. Spend some moments in quiet reflection and appreciate your faith. Find ways to strengthen it, through prayer or study. Pay attention to your finances too. Choose wisely the means by which you’ll grow your investments. Don’t allow someone to sell you a product when they should be helping you formulate a plan. Understand that even with vigilant attention to your physical health, you could face unexpected threats to your financial health. Accidents, illnesses, financial setbacks to love ones, all pose threats to the retirement you envision. Review your plan quarterly and reevaluate your goals and your risk tolerance. Even if you don’t plan to live until you’re 156 like I do, you need to plan carefully and pay attention to… | Read More »

Our financial advice for women? Invest in yourself!

You might as well live a great life because you’re going to have to put in the time anyway! The first step is to secure your health. Make wise meal choices but don’t be afraid of food, sweat a little every day, take long walks to clear your mind and reduce your stress. Get plenty of rest and check in with your doctor regularly. Don’t avoid your dentist. Honor your relationships. Nurture your friendships and allow yourself to love. Appreciate your family members and enjoy the time you spend with them. Tend to your finances. Take an honest look at your spending habits and create a reasonable budget. Invest in your future and find someone who will help you make you money grow. When you have a handle on your health, family and finances, you are free to design your own great life. Love to travel? Treat yourself to your dream vacation. Crave quiet? Block off time in your day that is just for yourself. Restless? Volunteer for one of the hundreds of worthy organizations that would love to have you. Stressed? Reevaluate your day and take it down a notch. Often, we’re so busy just putting one foot in front of the other as we wander through our days that we never really get anywhere. Sometimes, we need to take a step back and a thoroughly analyze the time we’re spending on this planet. Want a great life? Go get it.

The Legacy of an Honest Effort

One of the most important legacies we can leave our children is a solid work ethic. Often in our industry we see parents diligently create a financial plan that will leave their children a healthy estate. Less common is the parent who also instills in his or her child the means to handle that inheritance. A new normal is looming in the United States and we need to equip our children properly.  Just as we make regular deposits into our 401(k) plans and college funds, we need to make consistent efforts to encourage healthy habits in our children. We need to teach them to be as proud of their sweat as they are of their medals. In the classroom, at the dinner table and on the sporting field, parents should demand an honest effort. Applaud the process before accepting the prize. Teach your children that there is value in hard work and honor in achieved goals. Don’t be afraid to allow them to struggle because they’ll find such joy in their own success. Many loving and well-meaning parents work hard to make life easy for their families. While I admire the effort, I think this is a mistake. Aspects I consider essential to include in your child’s portfolio of ethics are the courage to try new things, the strength to work hard and these three simple steps to success: 1) Say please and thank you 2) Do what you say 3) Finish what you start