Luke LaRock, NSSA®, Associate Wealth Advisor
As we cross the threshold into a new year, it’s natural to reflect on our aspirations and set goals for the future. While financial success can be a crucial aspect of our well-being, the journey toward True Wealth encompasses more than just monetary gains; think financial confidence, a sense of purpose and fulfillment.
At Pinnacle Wealth, we believe in a holistic approach to financial planning—one that prioritizes the aspects of life that money can’t buy and death can’t take away.
You may be wondering: How can I start and finish this year differently? What even is True Wealth?
I’ve put together a guide in hopes of inspiring you to reflect, and make changes if necessary, in order to start you on or even get you back on your personal journey to True Wealth.
Define Your True Wealth
Before embarking on any financial journey, it’s essential to understand what True Wealth means to you. While your True Wealth should be a result of intentional time and thought, it may change slightly as we age or begin new chapters in life.
The start of a new year is the perfect time to reflect on whether your vision of True Wealth has changed, if you’ve been living in accordance with that vision, or if now is the time to begin discovering what your True Wealth is.
Beyond the numbers in your investment and bank accounts, True Wealth encompasses experiences, meaningful relationships, and a sense of fulfillment and purpose in your life.
Do you think about these aspects of your life regularly? What gets you out of bed every morning? What is your ‘why?’
Take a moment to reflect on what truly matters to you and how you can align your financial goals with these values.
Our True Wealth Plumbline Process workbook will walk you through the questions to articulate and outline your version of True Wealth. If you email: [email protected] – we’d be happy to send you a copy.
Set Clear Financial Goals
Once you’ve spent some intentional time identifying your True Wealth, translate these values into tangible financial goals. Whether the goal is revisiting the drawing board to create a stellar monthly budget, carving out time to review your financial situation with a spouse, family member, or an advisor, or saving up for a dream vacation, establish clear and achievable objectives.
Setting specific, measurable, and time-bound goals will ensure you address each and follow them through. Get started!
Revisit or Establish a Financial Plan
It’s important to remember True Wealth isn’t built overnight; it requires a well-thought-out financial plan.
If one of your goals is to review or establish a comprehensive financial plan, spend some time compiling the information you want to work through and seek an advisor to help you create a roadmap tailored to your unique circumstances and goals.
Don’t feel like you need to outline a financial plan alone. By establishing a relationship with a financial advisor, you free up more time to work towards or enjoy your True Wealth, all the while working alongside a professional whose purpose is to build, review and optimize a plan to work toward your goals. It’s a win-win!
At Pinnacle, part of our recipe for True Wealth is service-minded work. If we can help you achieve a more financially sound life, we invite you to get in touch with our team!
Prioritize Your Health and Well-being
Health is an integral part of True Wealth. Prioritize your physical and mental well-being by adopting a healthy lifestyle. Eat foods that make you feel good, rather than just anything your taste buds will enjoy.
For those who work in an office, carving out time to just move throughout the day can work wonders; break a sweat! Creating intentional time to just “Be” whether through personal hobbies, reading, or prayer is impeccable for your mental and spiritual health.
A healthy you is better equipped to pursue and enjoy True Wealth.
Cultivate Meaningful Relationships
While financial success is important, it’s the relationships in our lives that truly enrich our existence. Allocate time and resources to nurture meaningful connections with family, friends, and your community.
True Wealth often lies in the shared moments and support we give and receive.
Gratitude is a powerful tool on the journey to True Wealth. In conversation, a good friend of mine helped me understand it’s impossible to be grateful and anxious at the same time; you seem to either be one or the other.
Take time each day to reflect on the positive aspects of your life. Whether it’s appreciating the people around you, acknowledging personal achievements, or finding joy in simple pleasures, gratitude fosters a positive mindset that transcends monetary concerns.
Review and Adjust Regularly
Life is dynamic and your financial plan should be too. Regularly review your goals, financial situation, and overall well-being. Be open to adjusting your plan as needed, ensuring that it aligns with your evolving priorities and circumstances.
As we step into the new year, let’s not only focus on financial gains but also on cultivating True Wealth.
At Pinnacle Wealth we believe True Wealth is the culmination of a balanced and purposeful life confidently enjoyed. By defining your values, setting clear goals, and adopting a holistic approach to financial planning, you can start the year strong and embark on a journey towards a wealth that transcends mere numbers—a wealth that encompasses everything money can’t buy and death can’t take away.
To learn more about establishing a life built on True Wealth, get a copy of “True Wealth: Financial Training for Every Stage of Life.”