Humanizing Money

What is your true purpose and objective in life? Is it the ability to stop working when you’re 65? Doubtful. In my experience, most people are really trying to live the happiest and most fulfilling lives possible, not just after 65 but right now! Most people’s lives can be broken down into five distinct areas that contribute to them being happy and fulfilled in life. Those are family and relationships, career, finances, health, and recreation. When it comes to overall wellness and life contentment, all of these areas of your life must be moving in harmony. Each area affects the others and so it is critical to pay attention to all of them equally. If someone is extremely fit, makes a ton of money, but doesn’t have time or energy to spend with their family and significant other, they can’t be as genuinely happy in life.   If one spends a lot of time with their family, has a great job, but never takes care of their finances, they are at a higher risk for having money related fights, and not being able to have enough money for recreation which might also lead to a less fulfilling life. As you can see, they are all intertwined.

One could argue that the financial area of your life is at the root of these since money is simply a means to enable you to do the other things in your life that are more important to your overall life happiness and fulfilment. Money itself is nothing more than printed paper or a digital number on a computer. Too many people get emotionally caught up with trying to seek out a number in their bank account and lose track of the real meaning of money… a means of exchange. An exchange for vacations, college education, healthy food, hobbies, time off with loved ones, the list goes on. If this is truly the case, in order to understand how to design your financial life, it is important to extricate the priorities and objectives in all of these other areas of life, first, before backing into what financial strategies and habits need to be established in order to bring that into fruition.

Spend some time and design a crystal-clear road map for each of those other four areas of your life before working with a professional to help you identify what financial strategies should be put in place to make sure those things can happen. Take ownership and design the life you want by creating a blueprint for life fulfillment. When there is a well-articulated purpose for everything in your financial strategy, it will lead to more commitment and buy in to establish the necessary habits and implementation needed for a fulfilling life. As Jim Rohn, American entrepreneur and motivational speaker once said “If you don’t design your own life plan, chances are you’ll fall into someone else’s plan. And guess what they have planned for you? Not much.”

Michael Foley, CFP®, CSLP®

Author: Michael Foley, CFP®, CSLP®

Michael works with professionals to establish harmony in their lives through tailoring comprehensive financial plans, while also providing a variety of investment and insurance services.

1813484/DOFU 6-2017