Do You Know the Key to Financial Happiness?
So what’s the answer? Hiring an advisor, asset allocation, diversification or having a long term investment strategy? All important. However, the key to financial happiness is…
Living within your means. Spending less than you have coming in.
Do this and everything else will fall into place.
Live beyond your means and you will face stress and anxiety. Your flexibility to make life and career decisions will be limited. Your relationships will be negatively impacted.
If you find that you are living beyond your means, you have the power to change. It starts with understanding your Core Values—the beliefs by which you strive to live. The priorities you value most. Once you identify your Core Values, you can use these values to create a Budget. And you will have a framework for decisions involving a Big Purchase.
By applying these principles, you will have a roadmap for your spending. You will have the key to financial happiness.
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Shari Greco Reiches is Co-Founder, Principal and Chief Growth Officer of Rappaport Reiches Capital Management. She is the architect of the firm's Maximize Your Return on Life Solution, which aligns clients' financial planning with their Core Values. She is a frequent speaker on financial planning and values, author of Maximize Your Return on Life - Invest Your Time and Money in What You Value Most and enjoys mentoring women in the wealth management profession. Please connect with Shari below. She loves to talk about investing, financial planning, and Barry Manilow.