MONEY matters

For most people, a conversation about stocks, bonds, index funds, 529 plans, IRA’s, 401K’s, financial planning, etc, is the equivalent of a sleeping pill. For many it’s also a necessary task but not high up there in terms of joy and fulfillment.

Unless your plan for financial independence is based on luck, winning the lottery or an unknown relative that decides to leave you their estate, like most people, you’re going to become financially independent the old fashioned way-you’re going to earn it.

And the way you’re going to earn it is by saving money. And saving money means delaying consumption today (delayed gratification) for a brighter and more prosperous future tomorrow. But that’s easier said than done. The simple truth is spending money is way more fun than saving money.

One of my favorite clients, Eddie from N.Y., sent me the following 7 principles article. He and his wife are on a quest to reach financial independence (FI) sooner rather than later. This is a goal they take very seriously and is why their financial plan sets specific benchmarks that measure their progress as well as success.  They are well on the road to FI. Being in their 40’s, they’ll reach this destination much earlier than most of their friends and colleagues. They have amazing teamwork and can discuss money openly and freely. I love working with couples like them.

Another dear client and friend from Colorado, Terry, was one of my first clients back in 2003. We caught up on the phone today for a financial portfolio review and financial planning “tune-up”. Terry has a heart of gold and continues to wake up each day asking this question:  How may I serve? Her attitude of gratitude is remarkable. She’s a light that shines so brilliantly and brightly. She lives each day by paying it forward and helping as many friends as she can with their money issues. I am grateful for her continued support, trust and friendship. Terry, you inspire me.

If you feel like the big banks are treating you like a number and you are in the mood to deal with smaller, more customer oriented banks, please check out Arianna Huffington’s, (co-founder of The Huffington Post), campaign to inspire people to move their money to community banks.

Covered in more than 150 media outlets and endorsed by major celebrities including Bill Maher, Michael Moore and Alan Cumming, the Move Your Money project was created to encourage individuals and institutions to divest from the nation’s largest Wall Street banks and move to local financial institutions.

I would add one thing - don’t overlook the value of credit unions, which are all about serving their members. Redwood Credit Union here in Sonoma County, CA is one of the best credit unions I have ever been a member of.

Here’s the link to learn more about the Move Your Money campaign.