What in the world makes me wake up and drive to work with a sense of assurance and purpose? Interestingly enough, it's two things: my wallet and my phone. Now, I can already hear some of you thinking, "Well, that sounds pretty materialistic." But bear with me while I break it down.
My Wallet
First up is my wallet. Yes, my wallet. On a Monday morning like today, the thought that my financial situation isn't a source of stress is incredibly comforting. Back when we were just starting out, worrying about whether we had enough money at the end of the week to pay our bills was a constant source of anxiety. But over time, things have changed.
You see, there are two ways to handle financial stress: make more money or spend less. Most people might think, "Well, if I work harder and earn more, I'll be able to spend more and keep up with my expenses." But there's another side to this coin. Carving out a lifestyle where your monthly expenses don't exceed your income is a game-changer. It means I'm not constantly fretting over whether we can afford groceries this week or make the mortgage payment. It's about finding a balance where your financial needs don't overshadow your daily life. And let me tell you, that brings a lot of confidence.
My Phone
Now, let's talk about my phone. No, it's not because I'm glued to social media, though you could argue I spend a fair amount of time on it. The real reason my phone brings me confidence is because of what's in it—more specifically, who's in it. That little device holds a vast network of contacts that I've built over the years. Friends, family, professionals—people with decades of experience in various fields, ready to offer support and advice.
Think about it. In my phone, I have access to plumbers, electricians, doctors, lawyers, accountants, and more. When a problem arises, I have a network of people I can call on for help. It's a network that I've deliberately spent time developing, and it's one of the most important skills I've cultivated. Knowing that I can reach out to someone for support or advice at any time is incredibly empowering.
As I drive into work on this hazy Monday morning, it's clear to me that the confidence to tackle the day and the week ahead stems from these two things: my wallet and my phone. The financial stability to support my loved ones and the robust network of people at my fingertips give me the assurance I need to face whatever comes my way.
So, what about you? How would you feel if you had a supportive network of contacts and knew that at the end of the month, your financial needs were covered? I'd love to hear your thoughts. What brings you confidence in your daily life?
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Mark J Modzeleski, CFS, CLTC, AIF
President, Legacy Wealth Advisors of NY