If you’re reading this article, chances are you’re already working hard to build a financially secure future. But how do you know if it’s enough?
In a culture that frowns on honest financial conversations, it can be difficult to gauge how well you’re doing compared to everyone else. Thankfully, there are some tried-and-true metrics you can use to evaluate the health of your finances.
Let’s please agree on something. “More money” is not a goal.
Money is simply a tool that allows us to do the things we want to do in life. More money certainly helps but only if you have a higher objective. If you are focused simply on growing your wealth with no ultimate life-based objective in mind, you will make increasingly risky and poor decisions.
It’s very easy to get caught up in what our neighbors and friends are doing and buying. By all means, be happy for them, but realize there’s a reason you didn’t buy that thing first. And here it is. It wasn’t right for YOU.
Think back to your time in school. Where did you think your life was headed? Has that come true? Now think back just five years and again, where did you think your life was headed? Has that come true?
My guess is that your life is not turning out exactly as you had predicted. No judgement here on whether it’s better or worse. I’m not even interested in that. I’m simply saying it’s different. The same is true of your financial plans.
Following along with the blogs of financial advisors is a great way to access valuable, educational information about finance — and it doesn’t cost you a thing! Our financial planners love to share their knowledge and help everyone regardless of age or assets.