Numerous surveys have shown that financial planning can help you reach your goals faster and with better results. A study revealed people with a financial plan have 2.7 times the net worth of those who don’t. Having a higher net worth can pay-off by giving you the ability to have more choices in life. Choices that cost money, that is!
However, growing your net worth takes patience. We grow our wealth through investing. Using time to compound the effect of yield and returns. The longer you put your money to work, the more you can earn on dividends from stocks and coupon payments from bonds (yields), as well as possible gains (returns) in the value of the stocks you own.
We’re used to instant gratification in our fast-paced lives, so financial planning might feel like a lot of work for results that are far off into the future. But I’m here to tell you that going through the financial planning process with a really good planner can change you outlook in real-time.
Financial planning can change the way you feel, in many ways.
Here’s six ways that financial planning can change the way you feel.
Feel relieved. You’re no longer ignoring your finances. There’s no greater relief than knowing. Knowing that you’re on track to do the things you want in life. Knowing that you’re not, but then knowing what you need to do to turn it around. Financial planning puts your mind at ease by helping you see your current financial situation clearly. You’ll know exactly how you’re doing and what steps come next. Know it’s never too late to start.
Feel reassured. Not enough women are told that they’re good with money. Because of this, we doubt and question our money decisions more than men do. Financial planning can help you trust yourself — that you already know enough to do the right things with your money. It’s surprising how talking to a financial planner can help you realize that you’re OK and you’ll be OK.
Feel supported. It’s too important to try and figure it out on your own. You don’t have to do it alone. Since financial health is closely linked to physical and mental health, women can think of financial planners like part of their support team: someone who helps them expertly take care of their mental health. I’ve studied behavioral finance which is the study of how people think, feel and react to money matters. I’ll meet you where you are, support, guide and educate you along the way.
Feel in control. When you feel like your money is controlling you, financial planning can help you take back control of your money — and give you an actionable plan for how to do it right. It can also help you take control of your life by anticipating negative financial surprises in the future. “When can I possibly retire?” becomes; “I’ can achieve all my financial goals and retire in 6 years.”
Feel more like you. Knowing offers focus. Knowing why offers clarity on what matters most to you. Financial planning can help you prioritize money moves so that you can zero-in on your needs, goals, and values. When a financial plan considers all of you, it can make your next purchases and investments feel more intentional, and every trade-off feel easier.
Feel confident. Having a pro by your side to guide you will give you confidence, because getting hands-on with your finances can feel overwhelming. But the #1 driver of confidence in women is taking action with their money. Financial planning helps stop the cycle of; “What should I do”, “I don’t want to think about it right now”, or, I’ll do it later”.
Sources
Komentáře