What True Wealth Means to Me

Share Post: facebook Created with Sketch. twitter Created with Sketch. linkedin Created with Sketch. mail Created with Sketch. print Created with Sketch.

Home. It’s a tough word to describe. For some, it means a place, a city, a person, a feeling. Home is at the core of what True Wealth means to me.

I used to think my home was Colombia, but that is no longer the case. I have found it simply means feeling like I belong and being surrounded by people who I share inside information with. Some are related by blood; others I picked up along the way. For me, home is a state of mind which creates inner peace, joy and a shared belonging.

I feel wealthiest when I’m surrounded by my loved ones and dear friends; those who have shared laughter and tears, joys and sorrows, successes and failures. The ones who I can see every day or never at all, but still feel like we share a life.

In my case, living far away from home is tough, and so my mind creates new homes with new faces and new experiences. As an adult, I have many homes but not one specific home feels complete.

Money can’t buy my home and death certainly cannot break those bonds. But I once heard the only way to deepen relationships with others is by spending time with those people. As a result, travel is a top priority goal for me. I want to travel the world and create homes along the way. I want the flexibility to merge my old homes with my new homes – and to be able to create this union of old and new, present and past. I have to craft carefully laid-out rules of engagement.

As a result, although my definition of True Wealth is not money related, to pursue it I utilize financial planning to specify my goal. Then, I analyze the metrics to help pursue my success. I initially analyze my last three years of travel to get an achievable savings goal. I then create a line item budget specifically for travel. Then, I begin to save money into that account every month on an automatic basis. When I travel, I deplete the account partially or in full which sets an automatic budget. But it ensures I don’t use debt as a way to reach my goal. Then I start all over again for the new trip.

Client Idea – I wanted to share an idea one of my full-time traveling clients gave me. She charges all her expenses to her airline card and pays it off every month. How genius! I recently used this for my trip to Colombia and got to travel First Class on miles.

 

Disclosure: It’s important to pay off the credit card balance before your due date so you don’t incur interest rate charges.

Not everyone’s definition of True Wealth is similar to mine; not all definitions will require a financial plan but they all require a plan. The most important thing is to take the time to create a definition and once you have it, pursue that definition until it becomes a reality.

If your definition is like mine and it is ultimately tied to a financial plan, then getting financial planning advice and developing a personal financial plan with an advisor may be something you should consider.

Share:
facebook Created with Sketch. twitter Created with Sketch. linkedin Created with Sketch. mail Created with Sketch. print Created with Sketch.
Share Post: facebook Created with Sketch. twitter Created with Sketch. linkedin Created with Sketch. mail Created with Sketch. print Created with Sketch.

RECENT POSTS

Creating an Enduring, Intangible Legacy

Published by Beth Schanou, Creating a lasting legacy requires more than legal documents transferring material assets. Although a considerable amount of time is spent on the estate planning process, often the transfer of wisdom, insight, experience and other similar intangibles are not considered.

A Life Defined Starts Here

Many people set goals, yet on average they only attempt them less than once. Those who do reach their goals attribute their success to setting tangible, measurable objectives – and pursuing them with focus and determination, even when faced with challenges. Click here to open fullscreen

5 Lessons Parents Should Teach Their Children About Finances

Published by Andrew Rogers Every year, millions of young adults graduate from high school and embark on a new journey in life. Many are headed to college, some leave home to travel the world and others get ready to enter the workforce. But are they ready for what lies ahead? Many parents wo …

Don’t Treat Your Home Like A Cash Cow

Published by Ron Carson Almost everyone once thought of their house as their largest and safest investment—until the bubble burst. For generations, prudent “savers” would put sizable chunks of their incomes into their homes.
1 2 3 104 105 106 107 108

Get in Touch

In just 15 minutes we can get to know your situation, then connect you with an advisor committed to helping you pursue true wealth.

Schedule a Consultation