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Full-Time Financial Wellness

Full-Time Financial Wellness

| May 10, 2023

Have you clocked how your finances are doing?

Keeping your finances in order should be a full-time occupation — not that you should lose sleep over it, but that even while getting a healthy eight hours of shuteye, you should rest assured that your money is working for you as effectively as possible. Think of your wealth-protection plan the same way a fighter pilot assesses their personal security, as a clock face surrounding you from your 12 o’clock down to 6 and back again. A healthy financial wellness plan gives you the same 360 degrees of coverage.

This means more than just saving the hassle of getting your I.R.S. paperwork done correctly and on time. A certified tax preparer can keep you updated on changes to tax law, and help you find deductions and credits you didn’t know you had.

 The right insurance plans can protect your wealth, make your family more secure, and also generate income for you. Whether it’s a life insurance policy that guarantees a nest-egg for a stay-at-home loved one or a fixed annuity designed to provide steady return come what may, there are products out there that could play a key role in your financial well-being.

A good wingman watches your six, and a good financial advisor can talk you through all the goals you’d like to achieve … and all the challenges you might not expect. Could debt consolidation come with hidden costs, or could it lead to a surprising windfall? What hidden tools are in your reach that could pay for a kid’s college education or provide a little something extra every month? A regular checkup with a financial advisor might take a little time, but can also lead to a more profitable future.

Wherever you’re employed — at a 9-to-5 with a 401(k), a charitable non-profit with a 457 plan, or as an entrepreneur with a Roth IRA and a handful of other ways to save — there are always interesting options for making your money work for you. A financial wellness plan will look at those options and offer different ways to combine them to make the most of your long-term investments for the future.

Your financial wellness isn’t complete without taking into account those around you. Maybe you’ve got children or grandchildren looking forward to college. Maybe you’re the sole proprietor of a business with employees you think of as family. Maybe you’ve got a charitable cause you want to see flourish after you’re gone. It may be that you and your spouse are looking for the most effective way to combine your finances. Or it may be that you’ve inherited a small sum from a generous uncle and want to make the most of it. Any of these investments can flourish and make a difference as they grow. An advisor can help you encourage these family investments to flourish, and can help make transitions in wealth flow smoothly toward a positive future, bringing your financial wellness full circle.