We can often be obsessed with the latest health craze—a push for the next thing that could optimize our health. One week it's raw water, the next it's MCT oil. We want to lead a healthy lifestyle: We watch what we eat, buy our food at the right markets, exercise frequently, get enough sleep and try to relieve the stress that can cause health-related issues.
I suggest we equate good financial decisions with an optimal workout or a day of eating right. After all, they, too, are contributions to a healthy future.
When we go to the gym, we understand that in order to stay healthy, we have to keep our bodies moving. The same is true for financial health. It is a journey, the continual aim to improve position, build resources and attain goals.
But along the way life happens. Jobs can change, the market can get volatile, reserves are needed and retirement planning can lose traction. When this happens, it's important to get back on track, make the necessary adjustments, and not give up.
Financial planning is an ongoing process that aligns one with their goals, builds a foundation for the unexpected and makes vision one's reality. It's a focus on today and tomorrow. Today's quality of life always matters and should be balanced with focus on the future.
People can often become overwhelmed with financial decisions. How much will I need? Who can I trust to give me good advice? It is easy to avoid big decisions, and it's easy to make those small in-the-moment self-gratifying spending decisions, especially when we are so busy and stressed out. But these kinds of decisions ultimately take their toll.
I encourage you to take advantage of your situation and consider your own micro financial decisions. It may not feel like much, however the next time you are at Starbucks and order a drip coffee vs. a triple, venti, soy, no foam latte, not only have you probably saved $5, but that $5 could be $10 for your child's education or your retirement.
Remember, financial planning is a journey. And just like a good workout, sound financial decisions can be exhilarating.
The market indexes discussed are unmanaged and generally considered representative of their respective markets. Individuals cannot directly invest in unmanaged indexes. Past performance does not guarantee future results. The return and principal value of investments will fluctuate as market conditions change. When sold, investments may be worth more or less than their original cost.