The Financial Purpose Podcast

Clients always want to know what I think politically and where I stand. In this episode, I share some data on the economy and even my opinion of the two presidential candidates and how their campaigns will likely spin narratives around economic data to their favor. As observers and participants in this democratic process, it’s essential to navigate these narratives wisely, armed with a comprehensive understanding of objective economic truths and their broader implications.Reference sources:GDP data: https://www.bea.gov/news/2024/gross-domestic-product-fourth-quarter-and-year-2023-third-estimate-gdp-industry-andTrade defcit data: https://tradingeconomics.com/united-states/balance-of-trade#:~:text=The%20United%20States%20recorded%20a,Billion%20in%20March%20of%202022.Inflation data and charts: https://bilello.blog/2024/the-week-in-charts-4-15-24Pandemic Unemployment: https://www.statista.com/chart/24363/number-of-jobs-lost-since-february-2020/Biden job creation: https://www.dol.gov/newsroom/releases/osec/osec20240202Economic forecast: https://www2.deloitte.com/us/en/insights/economy/us-economic-forecast/united-states-outlook-analysis.html This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit thefinancialpurpose.substack.com

This topic has been heavy on my heart for a few weeks. March was an interesting month for our family, a mix of deep loss and also life stage celebration. In reflection, it’s been a stark reminder of my need - and your need - to place a better and more meaningful focus on a subject none of us like to think about but absolutely need to prepare for: the end of life. Listen to this episode as I bust 8 common estate planning myths and share 5 things you can do NOW to protect your loved ones while you are still living. Have questions about your financial situation and estate planning needs? Send an email to [email protected], or head over to www.lifemoveswealth.com and click the schedule button. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit thefinancialpurpose.substack.com

If you’re running a business, you’ve probably come across the term EBITDA. Understanding this metric can be incredibly useful, providing insights into your company’s operating performance and helping to shape your strategic decisions.EBITDA is an acronym that stands for Earnings Before Interest, Taxes, Depreciation, and Amortization. It zeros in on the earnings from your business's core operations by leaving out expenses that can vary widely between different companies, such as tax rates and interest expenses. This gives you a cleaner measure of your company’s profitability from its day-to-day activities.Listen to this episode to learn more about how to evaluate and calculate this important business metric, avoid it’s flaws, and most importantly - learn how to drive EBITDA to improve profitability and grow your business asset. P.S. This works for your personal finances as well!! This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit thefinancialpurpose.substack.com

Bitcoin ETFs are officially available on US listed exchanges. This is a significant development in crypto trading. These ETFs providing greater access to the volatile yet potentially rewarding world of cryptocurrencies, particularly Bitcoin.As with any investment, careful consideration is crucial. Cryptocurrency is still is a tricky asset class for many investors when it comes to deciding if, when, and how much to invest.In this episode, I’ll break down some key factors to keep in mind when deciding how much crypto exposure may be right for your investment portfolio.Thanks for reading The Financial Purpose! Subscribe for free to receive new posts and support my work. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit thefinancialpurpose.substack.com

Originally passed in 2021, the Corporate Transparency Act is now in effect. If you own a corporation or LLC created in the U.S. and registered with your respective state, there’s a good chance you will need to take action to comply with the law. This episode features special guest Wendy Anderson, Esq., Business Attorney. Wendy has been following this law since enacted, and she joins us on the Financial Purpose Podcast to help us get prepared to meet the requirements. Listen to learn more about the Corporate Transparency Act, how it applies to you, and deadlines for filing with FinCen. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit thefinancialpurpose.substack.com

2023 might be one of the most unexpected years of all time, certainly as the markets and economy are concerned. It seemed like everyone was calling for a recession. It never came. Most unexpected might be the magnitude of the stock market rally, which looks to be ending the year with a punctuation mark!As we head into 2024, the major themes I’m watching include:* Potential for Fed rate cuts* Is the economy truly slowing based on persistently high borrowing costs and increasing household debt levels?* Stock market may see high single-digit gains; S&P 500 price target 5,090 (+7%-8% higher) according to Fact Set* Bond price rally as yields continue to fall* Housing market and affordability likely to remain challenging* Ongoing geopolitical conflict and how much money we’re sending abroad* Election year and nasty, divisive politicsListen to this episode to hear my thoughts on these factors and more. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit thefinancialpurpose.substack.com

Are you financially ready for year end? In this episode I share a few factors to consider between now and December 31st, including retirement planning, tax planning, 529 planning, and estate planning. Buckle up and take notes! This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit thefinancialpurpose.substack.com

Signs of economic uncertainty are showing up in more places throughout the BIG economy, which impacts the LOCAL economy that you and I intersect every day. From home prices to mortgage rates, car prices to auto loan rates, inflation to wages, there’s evidence the economy is slowing down a little… or, at least taking a breather. As the federal government continues deficit spending without much caution for later consequence, inflation continues to be a primary factor in consumer costs and driver of fed monetary policy. What do you need to be doing as things become more uncertain? Listen as I share insights on where we are economically, where we may be headed, and what you can do to prepare for the certainty of uncertainty. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit thefinancialpurpose.substack.com

Many business owners start their businesses because they see a need they can solve, they’re tired of being paid less than their true value, and they want to work for themselves rather than someone else. One day you wake up and your business is running. Revenue is coming in, costs are going out, and you’re busier than ever. Ask yourself: is your operations engine running as efficiently as it could? Are you willing to shed the number of hats you’re wearing in order for the business to reach the next level? Is your P&L healthy? Operations efficiency is the engine of your business. How well is it running? This episode of the Financial Purpose Podcast features Kendi Brown, Founder of Coati Consulting. Listen to this discussion on the importance of supercharging Operations efficiencies in your business. Want to know more about maximizing the Operations engine of your business? Contact Kendi by text or phone at 480-227-5709. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit thefinancialpurpose.substack.com

In this episode of The Financial Purpose Podcast, I talk with Paloma Goggins, Corporate and M&A Attorney and founder of Nocturnal Legal. Listen for our discussion what business owners need to know about forming business entities, creating and maintaining good operating agreements, and most importantly - how to prepare for an eventual smooth exit by beginning with the end in mind. Visit https://nocturnallegal.com/ to learn more about Paloma and Nocturnal Legal.Learn more about Dale L Shafer II, CFP® and Life Moves Wealth here. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit thefinancialpurpose.substack.com

Have you ever wondered how to choose the right financial advisor?Whether you’re looking to work with a financial advisor for the first time, or you are looking to change advisors, the looming question in your mind might be:HOW DO I CHOOSE THE RIGHT FINANCIAL ADVISOR… FOR ME?One thing I will admit is there’s no shortage of financial advisors in the world –In fact, when it was suggested to me by a friend of mine that I should consider being a financial advisor, my response was “hey man, thanks – but, the last thing the world needs is another financial advisor!”Whether someone calls themselves by that title, or they actually do the work of a REAL financial advisor… there’s plenty to choose from.What should you be looking for in an advisor? What questions should you ask? What questions might they ask you?If you are someone who is considering working with a financial advisor for the first time, or if you are feeling underserved and looking for a new advisor, this episode is for you. Use this as a “know before you go” resource. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit thefinancialpurpose.substack.com

Today I want to talk about becoming a 1%er.I’m not talking about those that fall in the higher earning bracket…. Although that may be a goal for some…And, I’m not talking about that particular motorcycle club either….But what I am talking about is Kaizen.Kaizen, in practice, usually delivers small improvements that yields big results over time. It starts by simply improving by 1% at a time. I have found this to be an effective way to get to where you want to be financially, physically, relationally, emotionally, professionally… literally anywhere you want to see improvement.And by the way… all of those areas: financial, physical, relationships, emotional control, your profession… those are all directly correlated. The more financial stress you are under, the less effective you will be in the other areas.On the flip side, the side-effects of financial success show up everywhere – and that’s the direction we need to be headed.  And the key is this: you have to wake up every morning and re-commit to taking action towards improvement… just like in your marriage, your career, or your job as a parent. Every day you make a new commitment to stick with it.1% at a time. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit thefinancialpurpose.substack.com

“This isn’t going to be my story anymore…”In this episode of the Financial Purpose Podcast, I'm joined by special guest Sarah VanHoose for a conversation around how to change your money story. Listen to hear how she and her husband got serious about their money values, paying off more than $500,000 of debt in three years!And, hear how she decided to leave her corporate health care career to fully launch her financial and corporate coaching business, Journey to Influence. Money shame exists all across the wealth spectrum and Sarah is on a mission to change that mindset and help people get control of their money. Click here to learn more about Sarah and Journey to Influence.Download Sarah’s 5-Step Plan to thrive with your personal finances. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit thefinancialpurpose.substack.com

Heard all the bad stories about reverse mortgages? Have you heard about the many ways a reverse mortgage can actually unlock financial freedom in retirement? In this episode of the Financial Purpose Podcast I'm joined by Reverse Mortgage Specialist Andrew Kish for a conversation on the power of reverse mortgages. Learn more about Andrew here. Learn more about sound financial planning and defining your financial purpose at lifemoveswealth.com Andrew Kish NMLS #2115541 Luminate Home Loans NMLS #150953 This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit thefinancialpurpose.substack.com

The term “how to stay broke” returns more than 694 MILLION Google search results! Apparently a lot of people are talking about and are concerned about this topic. A recent CNBC financial literacy survey found that 56% of respondents cited living paycheck-to-paycheck; also, 57% of people earning +$100,000 per year are concerned about the health of their personal finances. In this episode of the Financial Purpose Podcast, I identify six specific actions - or inactions - you can take to stay broke. I also offer tips along the way for breaking out of these bad financial habits.How many of the six have you committed? Listen to this episode to learn more. Resource cited:https://www.momentive.ai/en/blog/cnbc-financial-literacy-2023/ This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit thefinancialpurpose.substack.com

Learn more about Claudine here: * Website: https://virtualingenuityllc.com/ * Facebook: https://www.facebook.com/Virtuallyexe* Instagram: https://www.instagram.com/virtualingenuityllc/* LinkedIn: https://www.linkedin.com/in/claudineland/* The Virtual Ingenuity Business Podcast on Apple Podcast: * The Virtual Ingenuity Business Podcast on Spotify:  This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit thefinancialpurpose.substack.com

Honest investors can attest that stock picking is hard. A strong conviction pick can lead to out-performance one year and under-performance the next. Or, vice-versa.I recently saw a discussion on Twitter among financial professionals based on the following question:Without Googling the answer, what is the best performing US stock over the last 20 years?Some of the responses included companies like:* Microsoft (MSFT)* UnitedHealth Group (UNH)* Apple (AAPL)* Amazon (AMZN)* Nvidia (NVDA)* Berkshire Hathaway (BRK'A / BRK'B)* Walmart (WMT)* Johnson & Johnson (JNJ), and* Netflix (NFLX)I responded with Phillip Morris (PM).The correct answer: Monster Beverage (MNST). By a lot!Would you have guessed that one correctly?Resources referenced in this episode: https//:app.koyfin.comhttps://www.investopedia.com/terms/t/technicalanalysis.asphttps://www.investopedia.com/terms/f/fundamentalanalysis.asp https://pro.riskalyze.com/embed/85887b63ed1059a0b37ehttps://lifemoveswealth.com/what-to-expect/ This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit thefinancialpurpose.substack.com

The U.S. debt ceiling is all over the news today, so let’s talk about it.Before 1917, Congress had the ability to use the Power of the Purse at their own discretion. In effort to make the federal government fiscally responsible, the debt ceiling was created.The debt ceiling cap currently stands at roughly $31.4tn. That limit was breached back in January.Is a U.S. default likely?Since 1960, Congress has acted 78 separate times to permanently raise, temporarily extend, or revise the definition of the debt limit – 49 times under Republican presidents and 29 times under Democratic presidents.House Speaker McCarthy is in a tight spot… Failing to raise the debt limit in the next three weeks could be catastrophic for the U.S. economy, but neglecting to secure the desired spending cuts could cost him the gavel.Moody’s Analytics predicts that a default would shave around 4% from U.S. gross domestic product (GDP), see stock prices fall by a third, and result in companies slashing nearly six million jobs.As Ulysses Everett McGill from the movie Oh Brother Where Art Thou? would say “we’re in a tight spot.”Sources used for this episode: https://www.investopedia.com/terms/d/debt-ceiling.asphttps://home.treasury.gov/policy-issues/financial-markets-financial-institutions-and-fiscal-service/debt-limit This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit thefinancialpurpose.substack.com

The Fed raised rates again today - the 10th hike in this current cycle. Just 13 months ago the Fed funds range was 0.00%-0.25%; with today’s hike, it is now 5.00%-5.25%.The Fed funds rate is one of the primary monetary policy tools. By raising this rate, the Fed is slowing a heated economy by indirectly influencing consumer and business borrowing rates. In this episode of the Financial Purpose Podcast, I’ll explain at a high level what the Fed funds rate is, how it works, and what it could mean for the economy. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit thefinancialpurpose.substack.com

What services do you expect from your financial advisor? What are you actually getting?Think about it. Is there a gap between your advisory expectations and the reality?Research from SpectremGroup among wealthy investors shows there’s a massive gap in many crucial wealth management services.There are many reasons why such gaps may exist, including: * Speciality held by the advisor* Expectations of communication and services provided not clearly established* Client may view “comprehensive” planning as an add-on or “upsell” service, not fully understanding the link between planning fees and value added* Advisor may not offer true financial planning services, preferring to manage investments only serviceNote this survey was conducted among wealthy investors. What about those not considered wealthy, which may include families with less than $1M investable assets? If these investors are surveyed, would the gaps be even wider?In this episode, I'll talk about these gaps and how I'm working to close them with my clients. Sources used for this episode: https://spectrem.com/Content/expectations-not-always-expected.aspxhttps://spectrem.com/Content_NewsLetter/10588.aspx This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit thefinancialpurpose.substack.com

You have four options available for your 401(k) plan when changing jobs... yet almost half of job changers cash out. A Harvard Business Review study found that approx. 41% of employees took a cash distribution when changing jobs... and 85% of those people cashed out the entire balance! This is called retirement leakage, and cashing out can be detrimental to your long-term financial and retirement health. In this episode I discuss the four options available, why people cash out their 401(k)s when changing jobs, and what employers and financial advisors can do to help. Resources cited in this episode: Harvard Business Review: Too Many Employees Cash Out Their 401(k)s When Leaving a JobMedium: Is Financial Stress Affecting Your Workplace? Own a business and want to learn more about setting up a workplace financial literacy program? Send an email to [email protected]. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit thefinancialpurpose.substack.com

Making better decisions requires an effective and structured process.Consistently following such a process can be challenging, especially when emotions come into play. Emotions can cloud our judgment and steer us away from the logical path. This generally leads to suboptimal outcomes.The natural goal is to consistently achieve good results by following a reliable decision-making process. However, in high-pressure situations, our emotions can derail our efforts to do so. This episode of the Financial Purpose podcast offers an insightful visual aid to demonstrate how the quality of our decision-making process impacts our results.Take a moment to reflect on the quadrants. Which have you have found yourself in during past decision-making scenarios? This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit thefinancialpurpose.substack.com

Since the pandemic, I have observed a drift in how people approach financial matters. People are slow to make important financial decisions, but faster to seek safety in times of volatility. In this episode of the Financial Purpose Podcast, I’m joined by Jamie L. Born, LCSW, CCTP to discuss how the continuum of mental health plays a role in money decisions. We discuss "Big T" and "little t" trauma, when you might be reacting from heart vs business (emotion vs logic), and when to seek help from a counselor. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit thefinancialpurpose.substack.com

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit thefinancialpurpose.substack.com

Watch this episode here: https://youtu.be/HynJE7IH_l8 This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit thefinancialpurpose.substack.com

Have you ever been on a boat in rough waters? Or on a super fast-spinning ride? How about the back seat of a car on a mountain road. These are some of the times when you might feel motion sickness.The same is true when going through a major change in your life or when processing grief. These times can cause financial motion sickness.In this episode of the Financial Purpose Podcast, I discuss 5 tips for avoiding financial motion sickness, including:1) Avoid feeling rushed into decisions2) Revisit your financial purpose3) Write down all the factors and expected outcomes4) Set a specific timeline and write it down!5) Discuss with a financial professionalBe sure to check out the video version of this episode at: https://youtu.be/DUQcKCUPLYM This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit thefinancialpurpose.substack.com

It's not just what we say or how we say it... it's also the words we use when doing the saying.In this episode I discuss the importance of having the same understanding of the words we use, specifically around money and in the advisory relationship. I also ask the listener the same question I ask in my first meeting a prospective client: if you could describe how you feel about money - today - using only one word, what's the first word that comes to mind?"Share you word in the comments! This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit thefinancialpurpose.substack.com

Starting and running a business can be scary. Many fail. To increase your chances of success, you might have to burn the boats.In 1519, Hernán Cortés led a large expedition consisting of 600 Spaniards, 16 or so horses, and 11 boats to Mexico on a do-or-die treasure hunt. Upon arrival, Cortés made history by destroying his ships, leaving his crew no other alternative but success in their mission.Listen to Episode 12 Burn the Boats - The Financial Purpose PodcastThis episode features Jake Brown and Jake Morrow, owners of Freedom Brands. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit thefinancialpurpose.substack.com

When you hear the word RECESSION, what goes through your mind? How does it make you feel? Is it a scary word? Or, is it an opportunity word?With words like RECESSION, we have three factors to consider:1) The things we can control (government, the Fed, the market, etc.), which influences...2) Changes in your financial results (the numbers), which influences...3) Your emotions around the first two factorsIn this episode, we'll cover all three factors and give a couple tips on how to approach times like these. How do you feel about the word RECESSION? Leave a comment below!Be sure to check out the video version of this episode: https://youtu.be/Or9FDJYLm_oWant to get in touch with Dale? Click here: https://lifemoveswealth.com/contact/Resources used for this episode: https://www.ustreasuryyieldcurve.com/https://thetranscript.substack.com/p/01-30-2023-resilient-resilience-free?utm_source=substack&utm_medium=emailhttps://www.tradingview.com/symbols/SPX/technicals/ This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit thefinancialpurpose.substack.com

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit thefinancialpurpose.substack.com

Where is the market headed in 2023?The real question is where is the Fed going in 2023?One year ago, the Fed was suggesting that the inflation we were seeing was transitory. I was suggesting my clients that possibly it was not, and as it turns out inflation stayed around for all of 2022 and persists.This time last year, the federal funds rate was essentially 0.08%; it’s now sitting at about 3.78%. The last time we saw fed funds rate that high was all the way back in October 2005.US inflation bottomed at right at 0% in May 2020 and kind of floated back up a little bit around 1 ¼ - 1 ½ percent until about March 2021. Then it just absolutely took off like a rocket ship and peaked in June 2022 at 9.1%. We’re now down to somewhere around seven or 7.1% and hopefully headed in the right direction. The numbers are definitely trending down.The market is currently trading at a level that goes back to several points over the last two years. We’re trading back to where we we’re in about the middle of October, and then before that around the middle of September. Before that, through the month of July. Then, you have to go all the way back to March 2021 to find this level again. So that’s the time frame I want to talk about - March 2021.March 2021 was a period of euphoria that I have never seen in the investing markets. And here is the crux of all that happened during that period: valuations didn’t matter. 2022 has been where we have dealt with the cleanup of this mess.So – where is the market heading in 2023? I don’t know. I have a hunch that it might look similar to this year. If we don’t get a recession, things might be OK. If we do get a recession, I lay out a few suggestions that can be executed between you and your financial advisor. Barring any major event that we just can’t see, I do think inflation continues to come down. We’ll see how that impacts the rest of the economy.Listen further for data on the fair value of the S&P 500 and where that could be headed based on changes to EPS and P/E. I also discuss a few things you can consider, depending on where you are financially and what investing "game" you are playing. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit thefinancialpurpose.substack.com

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit thefinancialpurpose.substack.com

The holiday season can be a time of joy and making new memories, or it can be a time of expectations that create stress and pressure around giving. This time of year can distort the heart vs wallet dynamic, which can lead to financial securities being expressed in a lot of different ways. In this episode we reflect on how the holidays have a unique way of exposing financial insecurities all over the wealth spectrum. Listen as I share my own financial insecurities tied to what I remember about Christmas as a kid and thoughts about what the holidays mean at this stage of life This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit thefinancialpurpose.substack.com

Articles cited: https://www.cnbc.com/2022/11/15/household-debt-soars-at-fastest-pace-in-15-years-as-credit-card-use-surges-fed-report-says.htmlhttps://libertystreeteconomics.newyorkfed.org/2022/11/balances-are-on-the-rise-so-who-is-taking-on-more-credit-card-debt/https://fred.stlouisfed.org/series/PSAVERT This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit thefinancialpurpose.substack.com

In this episode I discuss the promises made and broken by crypto, as exemplified by the recent blow up of SBF and FTX. Also, how decentralization in crypto is a pipe dream thanks to the efforts of the NY Fed and large banks in creating a digital dollar pilot. Crypto is not living up to billing - and I won't say I told you, but it's pretty darn close. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit thefinancialpurpose.substack.com

One of the most common questions advisors ask prospective clients is: “what are your financial goals?” I happen to think it's a bad question.Financial services firms market a goal-centric approach to the general public. With this question, advisors are communicating that you need to have specific and well-defined financial goals in order to get somewhere.Let’s explore this concept and decide if it’s better to have a financial goal or a financial direction. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit thefinancialpurpose.substack.com

What exactly is financial purpose?It’s the underlying reason behind your financial decisions, rooted in your values and priorities. This goes beyond just dollars and cents, helping you make decisions that align with what matters most to you.By focusing on your financial purpose, we shift the conversation from affordability to achieving what’s truly important.Listen to discover how the core element of our approach to financial advice centers around your financial purpose. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit thefinancialpurpose.substack.com

In this episode I go back to November 2017 to establish a trend line from that time to November 2022. Given all the volatility since then, is the market actually right on track?One important note about trend lines: depending on where you draw them, you can communicate a variety of messages.This post gathers inspiration from this tweet: https://twitter.com/SouthernAdvicer/status/1587514476391469057Be sure to check out the blog post for this podcast to see the charts and figures referenced: https://thefinancialpurpose.substack.com/p/right-on-track This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit thefinancialpurpose.substack.com

Have you ever heard of set point theory? At it relates to health, set point theory essentially states that your body has a normal set range for weight. Ever go on a cycle of diet and exercise, lose weight, only to see it return?Financial considerations are like bodies - everyone is different, and what works for some may not work the same for others. This is part of the work of financial planning - understanding how changes in your financial habits impact your financial health, and how you mentally and emotionally adjust to those changes. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit thefinancialpurpose.substack.com