We do a lot.
We’re single, married, or in committed relationships. We run our families, homes, businesses and, frequently, other people’s businesses.
However, our personal finances often lay in a murky, yucky space of unknown goals and destinations. What should we do? Here are some tips.
1. Be Confident
You got this, Girl. Although you may not know it, you have the tools to successfully reach your financial destination. Uncomfortable with financial terms and concepts? That’s okay. You know the basic concepts: save, invest, give. Find your life path. Aim for your destination. Find an advisor that believes in you as much (or more) than you believe in yourself.
2. Figure Out What’s Important to You
Think about how you want to live your life—now and in the future. How would you describe your environment? Your space? Your paradise? What’s important to you? Who’s important to you? If you think about these things, the strategy around money becomes so much easier. Find an advisor that speaks in terms that you understand and provides a strategy that supports your life path.
3. Don’t Wait
As women, we are good at completing assignments. Good at strategy. We also have to be good at doing. Don’t go down the paralysis by analysis road. Is this you? You don’t have time. Give yourself a schedule. Do your homework. Read a book on your own or in a book club. Find online articles that answer some of your questions. Find articles about being financially wise. Have a girlfriend dinner and have a financial conversation. Then do something. Make a decision. Move forward.
4. Overwhelmed By Expectations?
Don’t be. Don’t fret. Why? You’re smart. There’s a science to this, and you don’t have to be a math whiz to be successful. Now, more than ever, it’s super easy to find information on the essentials of money management and investing. Often, investing and other elements of financial services are presented as a competition or a horse race. It’s not. Building wealth is about creating and managing the assets you need to live the life you desire and deserve. Don’t hesitate to move away from advisors that don’t speak your language and are not addressing your needs. The conversation should not be overly technical or complicated. The conversation should not be about process. The conversation should not be about products. The conversation should be about you.
4. Look for a Partner
There is no reason for you to do this alone. Find someone who can guide you on a path to success. This is a person you relate to and who you feel comfortable with—who understands your lifestyle. This person should literally “speak your language.” Essentially, you want to work with someone who you like and trust. Most importantly, find a financial advisor or planner who is a fiduciary. This is a must. Why? As a fiduciary, the advisor will do only what is in your best interest.
Working with a financial advisor should be both motivating and reassuring. Never forget—you and your goals are the center of your universe.
Your life path is unique. Find it. Follow it. Connect with an advisor that meets your needs.
Go get it, Girl!