What does money mean to you? For some people, it means freedom and flexibility; for others, peace of mind and independence. For still others, it represents power and control.
Once you determine what it means to you, you can evaluate whether your approach to saving, spending, and investing money increases your happiness—or leads to dissatisfaction.
Has Your Money Bought You Happiness?
If it hasn’t, financial planning may be the ticket you need. Financial planning can help you gain clarity, confidence, and control over your finances.
When you demystify complex issues such as investments, taxes, and retirement, you can empower yourself to make better financial decisions with confidence. You won’t ever be able to control stock market volatility and interest rate fluctuations, but you can control how you perceive, handle, and value money.
Start by developing a written financial plan. Be sure it includes integrated financial planning advice in terms of investments, taxes, risk management, retirement income, estate planning, and charitable giving.
What is enough?
Resist the temptation of thinking that no matter how much you make, you will still need more. While I don’t believe you should equate your self-worth with your net worth, I do believe that developing a healthy relationship with money is an important ingredient in your overall happiness.
Here are four strategies you can use to embark on your own happiness project so that you can be truly happy, healthy, and wealthy.
Don’t Ignore the Ancient Wisdom About Happiness
Sometimes the advice we need to be happier was first given centuries ago. For example, most of us would benefit by taking to heart the wisdom of Seneca, a Roman philosopher, statesman, and dramatist:
“True happiness is to enjoy the present, without anxious dependence upon the future, not to amuse ourselves with either hopes or fears but to rest satisfied with what we have, which is sufficient, for he that is so wants nothing. The greatest blessings of mankind are within us and within our reach. A wise man is content with his lot, whatever it may be, without wishing for what he has not.”
About Marguerita M. Cheng, CRPC®, CFP®
Marguerita M. Cheng, CRPC®, CFP® is the CEO of Blue Ocean Global Wealth. She is passionate about ensuring that her clients have clarity and confidence about planning for their financial future. Marguerita empowers her clients to take control of their financial lives. As a CFP Board Ambassador, she helps educate the public, policymakers, and the media about the benefits of competent, ethical financial planning.
Cheng says her greatest joy and passion is touching the lives of others so that they may achieve their personal financial success.
Securities offered through Private Client Services, LLC. Member FINRA | SIPC. Advisory products and services offered through Blue Ocean Global Wealth, a registered investment advisor. Private Client Services, LLC and Blue Ocean Global Wealth are not affiliated entities.
Blue Ocean Global Wealth intends that this article will be viewed for informational purposes only. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security.
Originally published at www.beinkandescent.com