Golden Financial Nuggets: Exploring Financial “Must Do’s” | “I Should’ve Started My 401(k) Sooner” |
For those in the “working toward” camp: Are you currently doing anything in your financial endeavors simply because someone you respect or love told you to do it?
For those in the “Financial Freedom” camp: What is ONE GOLDEN NUGGET you would tell a kid, grandkid, or loved one… OR, if you could travel back in time, what is it that you would tell your younger self?
We’ve collected so many ‘nuggets’ of advice that SOUND so good… but are they?
-Are they actually good?
-Is it the only way?
-Is this good for everyone or just true based on a person’s circumstances?
-If it is actually good, WHY?
In good times nobody really questions where their money is going or how their time is being spent. There is this thing I see that I have called “Life Creep”. Remember those actions you took years ago, before you know it, activities, ideas, goals, circumstances, basically everything, has a way of slowly changing from what we intended into some variation of what we are doing now…
That “life creep” really shows its ugly face when times get hard… That’s when a very common question… a very legitimate question… starts to present itself at nearly every client meeting I have. “Why am I doing this?” There can be many variations of that question but the deeper cry for help is really, “I don’t understand or have confidence that this effort is actually working or moving the needle to accomplish things I MUST accomplish.”
In this episode, I explore a Golden Nugget from a woman that falls into the “Financial Freedom” camp. Her nugget is, “I should have started my 401(k) sooner… I had a lady tell me one time that if I started with 1 percent, my paycheck would actually be more… she was RIGHT!”
We set out to ‘myth bust’ or prove this idea… We look for themes and concepts that support it. Challenge the idea. Look for alternatives. Play ‘devil’s advocate. We explore this idea to help you answer the question, “Is this good advice?” or “Is this good for me advice?”
If you have any “golden nuggets” that have facilitated your success OR perhaps you are building towards your financial freedom and are doing things simply because you were told to by someone your trust… SEND THEM TO US! We would love to research these ideas and feature them in a future episode.