I’m sure most of you – and it should be all of you – sees your doctor at least once a year for a check up! You check all the basics – blood pressure, height and weight (at our age we see how much shorter we are and how much weight we’ve gained), cholesterol, etc. We all acknowledge how important this is and we always feel better after we’ve done this and hopefully have gotten a clean bill of health!
BUT – What about a financial check up? How important this is?? How and when should you do this?
When you think of check ups you always think of physical wellness and being fit-and this is good. But did you know that financial fitness can be just as important. It may sound strange but financial fitness can effect your overall wellness. There is a strong correlation between financial and physical health.
Financial stress can wear you down. Surveys have always indicated that “money” is the number once source of stress. About 25% of workers have indicated they are stressed financially. Financial stress can wear you down both mentally and physically. Financial stress differs among the different economic groups as well. This type of stress can lead to unhealthy eating habits, smoking, drinking and can be distracting at your workplace, creating the possibility of other issues. Many large employer groups (over 50 employees) have programs embedded in their benefits package that can help you with this- something to look into.
So what should you do? Rely on your financial professionals. Talk with the people who hold your retirement assets – most of these investment houses have client services people who have retirement programs that can help you with projections. They can take an overall account of where you are, where you need to or want to be and show you the best way to get there. Talk with your insurance professional – take a look at what you’re doing – review all of your insurance – home, auto, life, long term care – perhaps there are ways to reduce cost so more money is available to help you on your journey!
What you shouldn’t do is nothing. Don’t throw in the white flag! No matter how old you are, no matter how late you may be starting – DO SOMETHING! Something is always better then nothing!
Hard to believe the summer is almost over-and it’s been a hot one! Enjoy what’s left of the summer and always feel free to reach out to me if you need to!
