The more knowledge you have, the more confident you can become.
Taking the initiative to educate yourself about complex financial decisions can support you in accomplishing your next major milestone. Every educated financial decision you make gets you closer to that goal. Managing money in the midst of life’s other priorities is no easy task (women across all demographics struggle with the pressure to earn enough, access education, care for a family and plan retirement,) however taking the steps to create a financial strategy for yourself is not only possible but indispensable if you are seeking financial wellness.
The strategic approach is known to grandmasters, generals, and sports coaches the world over. Simply put, it’s a matter of looking over your resources and options, then taking steps to use them to your greatest advantage. Strategy doesn’t guarantee any particular outcome, but it can help you make arrangements for all manner of financial situations, both positive and negative.
Building a financial strategy could potentially give you a boost toward a better future for you and those you love. Whether it’s just you, as a single person, or you and your family, giving some thought to your finances could be all that is standing between real life and pursuing a dream. It could also potentially be what prevents a dire financial situation from becoming even worse. All by just thinking a few moves ahead.
Are you ready for this? Absolutely. Financial strategy is just a way of thinking ahead. If you’re reading this, you’re already thinking ahead. This means that you are ready to be thinking about putting money aside for retirement, contemplating insurance choices, setting up beneficiaries, creating or updating a will, and even designating a financial power of attorney and health care proxy as well as drawing up a living will.
These topics might seem “far away,” in some distant future, or even fill you with a little anxiety or dread. That anxiety, though, is rooted in the uncertainties in life; you never know what’s coming next. At least with a strategy in action, you have some things in place for your family. If it still seems like too much, it’s good to know that you can reach out to professionals for help.
Do you have to do it all by yourself?
You have many choices when it comes to building a financial strategy. You could educate yourself and go it alone. It’s certainly cheaper, but you’re probably thinking more about all the things you need to learn and less about all the things you might miss by going the do-it-yourself route. There are also computer-based options, which can be affordable, but you definitely lose the advantages of human help.
When you chose to have the support of a financial professional, he or she will be able to talk you through investments, financial issues in the news, working toward your own goals, and ultimately, help you think a few moves ahead.
7 Keys of Financial Wellness
Robert L. Schein, the founder of the CW3 Summits, teaches about the 7 Keys to Financial Wellness, both at the CW3 Summits and to his clients. FIND OUT MORE.
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