Tag: money

Finding Balance or Throwing it Out Entirely

Life is a constant juggle between competing ideologies, especially for those of us who are deeply passionate about various subjects. I often find myself torn between conflicting schools of thought, each championing their own way of living as the ultimate path to fulfillment. For example, as someone who dives deep into the nuances of nutrition, I’ve explored everything from Dr. Joel Fuhrman’s whole foods, plant-based Nutritarian diet to high-protein and meat-centric regimens promoted by fitness enthusiasts. My current approach is a blend of whole foods, high plant-based intake, moderate protein, and regenerative meat, yet it still feels like I’m not hitting the mark perfectly. But today, my mind is occupied with a broader and more pressing issue: the quest for balance versus the pursuit of singular passion.

Many advocate for spending more time with family, suggesting that this is the key to true happiness. They warn against dedicating one’s life solely to the pursuit of wealth, only to realize too late that it was a fruitless endeavor. Conversely, figures like David Goggins and Cameron Hanes promote an all-in mentality, urging us to pour every ounce of our energy into perfecting a craft, arguing that this pursuit is the only path to a meaningful life. Both perspectives resonate with me, yet they seem irreconcilable. On one hand, there’s the call to find joy in life’s simple moments with loved ones. On the other, there’s the drive to achieve greatness through relentless dedication to a single pursuit.

The common thread in both ideologies is the search for external meaning. Whether it’s through family or personal achievement, the aim is to find something that gives our lives purpose. At times, I entertain the idea of blending the two approaches. I could dedicate myself to something I find deeply meaningful, but who would take care of my children in the meantime? Perhaps my children themselves are my life’s work. The thought of homeschooling appeals to me—teaching them hard work, grit, and resilience. Yet, I’m not entirely convinced this would fulfill me completely.

I work as a financial planner, a job I love, but the more I immerse myself in it, the more I feel I’m taking time away from my children. Similarly, my interests in nutrition, fitness, and cooking are driven by a desire to stay healthy for my active lifestyle and my family, not as standalone passions. So, where do I go from here? What should I do? For now, I take it one day at a time. I believe the key lies in being fully present in each moment. When I work, I’m wholly focused on my tasks. When I’m with my kids, they have my undivided attention.

I’ve simplified my nutrition by sticking to the same meals until dinner. My workouts follow a consistent weekly routine and I have been adding to it now that my kids are out of school for the summer. I’m also exploring mobility exercises, starting with “Body by Breath” by Jill Miller. Despite this, my to-do list remains long. Is this balance, or a lack of focus and meaning?

Many of my friends work long hours in jobs they dislike, justifying the sacrifice with the financial rewards. I know this isn’t the answer. They will likely regret missing their children’s childhoods. I work part-time from home, a privilege I cherish, but it comes with its own set of doubts. Is the pursuit of meaningful work the missing piece for those working long hours? Can kids be the sole source of meaning in life?

When my first child was a baby, I worked full-time, and he went to daycare. I didn’t mind being away because I am not cut out for dealing with constant crying 24-7. Losing that same job after my second child was born was a horrible feeling of loss, despite my distane for the mundane work. I’m in a better place with more time for my kids and a job I find meaningful, but the paycut sucks and has affected my confidence in myself. There still a nagging feeling that something is missing. What is that thing? I don’t have that answer, but here is what I know for sure:

  1. Having my kids home feels right 100% of the time. Since ending daycare and starting part-time preschool, the time I have with my kids has been incredible. It’s challenging, but never not worth it.
  2. My work aligns with my passions. I love helping people with their finances. However, I struggle to make time for studying for my certification because I don’t feel that it is a priority and I need to reassess my purpose there.
  3. Financial constraints are a challenge. I don’t feel deprived, but I know I’m underpaid for my worth and the value I add to my current company. This will need to be addressed aftermy kids need me less. Homeschooling is still a consideration too so I don’t have a timeline with this.
  4. Health and fitness are important to me. My workouts and nutrition are good, and I’m in decent physical shape, but not at my peak. This is an area I want to improve upon.

Finding real purpose in life is a complex and ongoing journey. I don’t have any of it figured out and I don’t pretend to. I think much of my issues stem from my perfectionist tendencies, but I think I am closer to true meaning than I have ever been before.

5 Money Pitfalls I See Everyday as a Financial Planner

From a very young age, I learned to associate money with freedom. Growing up as an unhappy child, I learned to value of financial security as a means to freedom. This belief led me to become somewhat of a money hoarder, clinging to every dollar as a ticket to personal liberty. During my teenage years, I swayed into a period of rebellion—spending excessively, perhaps as a way to claim a slice of the freedom I so craved. However, I eventually reverted back to my cautious financial habits, embracing minimalism and the peace it brings.

My journey took a professional turn towards finance. In college, I switched my major finance when I realized it was likely more profitable than political science. My career began in a corporate setting at a major bank, where I eventually became engrossed with personal finance, consuming every related book I could lay hands on. This passion sustained me and eventually guided me to apply for and take a lower-paying job as a paraplanner after my team was laid off at my corporate job. Here, I found my true calling. Being an introvert with little interest in bringing in clients, I thrived on strategizing and helping others achieve their financial goals with this more internal role, only meeting with clients to reveal their plan.

Here are 5 MAJOR financial pitfalls I see clients fall into that make my money hoarding self scream inside, along with strategies to avoid/fix them:

  1. Living Someone Else’s Dream: Many people live lives shaped by others’ expectations or never pause to figure out what they truly want. It’s vital to take time for self-reflection to understand your own dreams and aspirations.
  2. Unprofitable Investing: Investing in rental properties can seem like a smart move, but it’s crucial to evaluate the profitability realistically. I see many people buy real estate as in investment, make far less than if they put that money in the market, and also spend a lot of time dealing with tenants and maintenance. Another pitfall here is investing in anything that is too safe for the client’s risk tolerance. Many jump into investments that sounds great without actually running the numbers and figuring out if they would be better off with another option. You need to run the number, figure out your risk tolerance, and invest appropriately.
  3. Relying on Future Inheritances: Planning financial stability around expected inheritances is risky. Many people even spend friviously knowing they will inherit money. Usually they inherit this money and it either less than they thought, or doesn’t carry them as far as they thought it would. It’s important to build independent financial security rather than depending on uncertain future gains.
  4. Overspending on Children: It’s natural to want the best for your children, but excessive spending can lead to severe debt. I’ve seen people with big money issues who won’t take away their kid’s Mercedes because they want to uphold and image and don’t want their kids (or sometimes spouse) to realize they are broke. Setting realistic budgets and teaching kids about money can help mitigate this issue. Sometimes tough conversations need to happen if you have already dug yourself into a hole.
  5. Chasing Unrealistic Dreams Without a Plan: Big dreams are wonderful, but without a concrete plan, they remain just that—dreams. Setting incremental goals and realistically assessing financial strategies are crucial to making dreams attainable. You cannot just will a great future, you need to plan for it.