The Financial Advisor Who Insists You SHOULD Spend Your Money
Hi… you might remember me as The Financial Advisor Without a Budget or the one who said “Oops – I Missed a Credit Card Payment”. I might go against the typical financial advisor mold when I tell clients: “SPEND YOUR MONEY!”
“You save money for years and years… but to what end? For what reason?”
Don’t get me wrong. It is important to have a disciplined savings program. But you don’t need to save forever, nor do you need to save ALL of your money now.
I see workers accumulate assets throughout their career, and they finally get the sweet pleasure of retiring! While their desire to clock in and work for their boss diminished, their desire to stop accumulating cash doesn’t. Therefore, even though their portfolio is built to meet their needs, they feel like they can’t spend their hard-earned money. They penny pinch, worry, don’t pursue their hobbies, and dimmish their joy all for the sake of ensuring their net worth is on the rise.
I once talked to an older couple who had a comfortable few million dollars tucked away. They were nearly in tears when they told me about a beautiful trip to a lake they took where they finally did something for themselves. I was nearly in tears too… but not because the lake sounded so beautiful. I was nearly in tears thinking about how hard they have worked for decades and how they had barely allowed themselves the pleasure of taking a vacation.
This type of story is so common for me. The vast majority of my clients spend too little NOT too much.
Of course, you want to save enough in your working years to ensure that you can freely and comfortably spend in your retirement.
However, you don’t want to save so much now that you can’t live your life while you and your family are young.
In addition to teaching them to be great people, I want to take my kids on great adventures, buy them their dream bicycle, and let them order dessert once in a while. I don’t want to be so focused on saving for an unguaranteed future that I sacrifice current happiness.
So, what do you do??
How do you find this magic balance of saving enough but not too much that you sacrifice the present?
That is a question that I (and all of the other great financial advisors in the world) live to answer. We want to help you identify that sweet spot. My hope is that you really can have it all.
