Voltaire said you should judge a man by his questions rather than his answers, so here are a few to consider! How many of us spend our lives chasing financial security, working long hours in jobs we dislike? How many times have we heard people, once it was too late, voice regret for not spending more of their time with their loved ones? And now the most challenging question, is it possible to adjust our work/life balance to achieve emotional satisfaction, while maintaining financial stability? In this article I’d like to explore the importance of identifying what our true goals are and how we can find ways to achieve them.
The Fallacy of Working for the Next Generation
It’s natural to want to provide for our children and leave behind a legacy. However, the idea that we must make sacrifices for the next generation might actually be counterproductive. The reality is that everyone should take financial responsibility for their own future. By gifting too much to the next generation, we risk stunting our children’s financial independence and personal growth. Yes, we can offer guidance and support, but taking on the burden of securing their financial future, especially if it is at the cost of our own well-being, is neither sustainable nor beneficial. Instead, we should aim to teach our children financial literacy, and the importance of making their own way in the world. If our children are mature enough to choose their own lifestyle, they should also take responsibility for making it financially viable.
Finding Purpose
We need to identify our specific strengths and talents and explore how we can use them to contribute to something greater than ourselves. If we are stuck in uninspiring work, that drains rather than fulfills us, we need to ask ourselves where we want to be spending our time.
We can start by taking a step back and identifying what truly motivates us. Once we have clarified that, we can try and make the right decisions. Sometimes, this means shifting careers, starting a business, or finding ways to incorporate meaningful work into our lives – whether it’s through volunteering, or a lifestyle change. It may well involve assessing how much money we actually need to live a happier, more meaningful life. As Stephen R. Covey in his book The 7 Habits of Highly Effective People puts it, “if the ladder is not leaning against the right wall, every step we take just gets us to the wrong place faster.”
Go Back to Core Values
In our distracting day-to-day life, it’s easy to lose sight of what truly matters. We need to take the time to reflect on our core values. What drives us? What are the non-negotiables in our life? What activities and life focus will we look back at in 30 years and be proud of when we look in that mirror? Visualizing our future selves can help us to tune in to our core values. If we can align our daily activities with these values we are on our way to greater fulfillment and purpose.
Be Proactive with Our Health
We shouldn’t wait until stress, illness or burnout forces us to make a change. We need to prioritize our health. This means regular exercise, proper nutrition and setting boundaries at work and in our personal life. We need to invest in our body just as we would in any financial venture – it’s an investment in our future.
Make Financial Changes If Necessary
If our financial situation is dictating a life that doesn’t fulfill us, it may be time for a change. This could mean finding a new job that aligns better with our values, adjusting our budget to prioritize well-being over excessive luxury, or even considering a major lifestyle shift to reduce stress and increase fulfillment. Financial security is important, but not if it comes at the cost of a meaningful life. However, this is way easier said than done. It sounds so simple, but no one ever said that simple means easy. It requires adjusting our mindset, and if relevant, getting the other members of our family on board. And then we need to act on our decisions, whatever form we have decided they should take. But the sooner we take action, the better our future will be.
Labinsky Financial helps clients achieve both financial security and personal well-being. Through expert financial planning and investment strategies, the firm empowers individuals to make informed decisions that reduce stress, enhance stability, and align with their life goals.
Achieving Quality of Life
The ultimate goal isn’t just to survive – it’s to thrive. True wealth isn’t measured solely in financial terms, but in health and happiness, as they reflect our deepest values. By proactively balancing work, well-being, and personal fulfillment, we can create a life that is not just financially secure but also very rewarding. I am not looking to be judged by Voltaire for my suggested answers, but hopefully they will help us live a financially stable, but more meaningful and appreciative life. At the end of the day, that’s what really matters.
With continued prayers for the safe return of all of our hostages, the safety of our soldiers in all their missions, and the security of our nation.