MONEY TALK
This post is sponsored by Northwestern Mutual
There are some hard truths in this world. Most people work hard for every penny they earn. Yet, for all that work, it’s crazy how easy it is for all that money to disappear. It’s not quite easy come, easy go, rather it’s hard to come by, easy to go. This is why I think it’s even more important when we talk about money to not only talk about how to make money, but how to hold on to, invest and grow that money, and make it work for you.
Let’s start at the beginning – the working for the money part. You’ve spent weeks, months, years trying to find the job. You’ve probably spent significantly more time trying to build your own business. You’ve invested time, money, energy, education and effort on being prepared. You’ve made sure that you purchased the right wardrobe, every detail was considered and you have even bought the tools from computers, printers, software. Of course, you also spend on train tickets or the monthly car note to get to and from work. Last but not least, you’ve foregone holidays, packed lunches and work 40+ hours a week again in the quest to earn money. Get my drift so far?
Now, let’s talk the other end – the spending money part. The money is finally in your hands. What do you do? You, of course, pay bills, rent/mortgage, necessities, debt, and let’s not forget, taxes. That money you worked for is out the door sooner than you can blink. The question is: How much time, effort, education have you put into making sure you’re managing and making the best decisions with your money? Are you working and fighting just as hard at keeping and managing your money as you are getting said money?
If you are, then you’re in the minority. If you aren’t, you might be quick to respond that it’s not poor planning, there is just not enough money; If only you made a little bit more (or a lot more) everything would be fine; or that financial planning is only for the wealthy. However, those are huge misconceptions.
On the first point about more money: A 2015 Nielsen study found more money doesn’t guarantee financial success. The study found that one out of every four families making $150,000 per year or more is living paycheck to paycheck. Americans as a whole rank as the world’s worst savers with 22 percent of people having no spare cash. I’m sharing this post because you can’t and shouldn’t be one of the 22 percent.
On the second point that financial planning is only for the wealthy, I can only leave you with this Chris Rock joke:
Everybody needs a prenuptial agreement. People think you gotta be rich to get a prenup. Oh, no! You got $20 million and your wife want 10, big deal! You ain’t starvin’. But, if you make $30,000… and your wife wants 15, you might have to kill her.
It gets a little dark there at the end, but you get the point of the joke. The less you have, the more you should work to protect it.
So, again, why am I telling you all this? Because this platform allows me to share tools and make recommendations. While this is a sponsored post, it was a choice to work with Northwestern Mutual, especially when I got a chance to speak with a financial advisor to review my options and realize where I’ve fallen short. I can only recommend that I think this is a healthy option, even if just as a conversation starter, gauging where you are and seeing how you can get started on a financially fit journey. Don’t let all your hard work and hard-earned money go to waste when there are so many smart and sensible things you can be doing. Like picking up your phone, sending an email or reaching out to a potential financial partner.
Please see my previous post about some of the services Northwestern Mutual offers and drop me a comment or email if you have any questions.
Disclaimer: I am not a financial advisor, above is just my opinion.