7285 W 132nd St, Ste 140 Overland Park, KS 66213 | (913) 681-9155
What do you mean healthier financial decisions?

What do you mean healthier financial decisions?

| August 22, 2016
Financial Planning

"The measure of who we are is what we do with what we have." -Vince Lombardi

“Take what you have and make the most of it.”  Sounds pretty intuitive, right? Mr. Lombardi's advice can be incredibly powerful when taken to heart, especially when exercised consistently over time. This is impactful in so many parts of your life - fitness, friendships, romance, money...  Being in the financial health business, let’s focus on the financials.

In pursuit of financial health, each decision you make can either improve or decline your viability. You can only work for so long, and inflation will always fight back; this means there's no standing still. If you break even, you’ve lost. Improvement can mean a healthier standard of living, more purchasing power, leaving a larger legacy - among many possible outcomes. A decline can mean running out of money, poor standard of living, poverty - among many other financial woes. Money can't buy you happiness, but lack of money can sure make you miserable.

So what are some healthy financial exercises? Budget, plan, protect, and save. Your budget will help you understand where you’re spending your money. We use an organizer that automatically sorts financial data and provides insights to our expenses. Temperance is essential. That shiny new Mercedes might get you down the street, but it’s only going to take you further away from the road to retirement if you’re not properly funding your 401k. Planning where you want to be is incredibly important. It’s not a concept, it’s a vision and target that you need to strive for at some point in the future. Protect yourself, your family, and your investments with the right type of cost effective insurance. Finally there is saving, you need to save enough to achieve your goals. The longer the time frame, the more predictable investing can be. And here’s a special consideration - those goals can also be easier to achieve with proper use of debt. Being debt free is liberating, but leveraging your assets and financing effectively will help you build your nest egg much faster than paying off that 3.5% mortgage.

If you would like help making healthier financial decisions, please give us a call at 913.681.9155.