The Role of Satisfaction and Values in Designing Our Financial Lives


The word “satisfaction” describes a feeling of fulfillment or contentment.  Its meaning is relative and often dependent on each person’s definition of success as applied to specific areas of life.

Therefore, in the area of finances, satisfaction is more of an emotional issue than a practical one.  That is because our sense of satisfaction is highly subjective and greatly influenced by our attitudes and beliefs.  As a result, the degree to which we feel satisfied with our financial lives is based on a unique and personal interpretation of our own financial needs and circumstances. (more…)

Change Your Money Mindset by Rejecting the “B-Word”

Is it possible to discuss spending and saving without mentioning the word “budget”?

Many people—and plenty of so-called financial experts—insist you can’t pay your bills, set enough money aside for retirement or understand your spending unless you create and follow a strict budget.

Their rationale is that when you see where your money goes, you can then trim your spending and siphon off cash for fun stuff like vacations or obligations like paying off your mortgage or credit cards. (more…)

Key Components of True Wealth

Learning good money management habits and basic financial knowledge will help to increase your confidence in making good financial decisions.  But, more importantly, a growing understanding of the underlying emotional motivators that shape your attitudes and behaviors will give you the extra edge you need to achieve your financial and life goals.

Therefore, rather than using income and net worth as a measure of your financial health, take a more holistic approach by evaluating your progress in these key components of “true wealth”—Recognition, Resilience, Resourcefulness, Relationships, and Wisdom. (more…)

What’s Your M.Q.?

Do you know someone who is really smart, but makes really dumb decisions when it comes to money?  These individuals are likely to be successful in other endeavors, but their financial lives are out of kilter.  Here are a few examples:

  • Joan has a great job and earns a six-figure salary. Even though she gets a generous raise each year, she can’t seem to be able to save and invest for her future.
  • Three years ago, John received a large inheritance from his grandmother. If well managed, her generous gift could provide John financial security for the rest of his life.  However, he feels anything but secure.  The responsibility of financial stewardship has challenged his self-confidence and triggered anxiety attacks and depression.
  • Tina recently graduated from law school and landed a position in a top firm in San Francisco. Although she was offered a very competitive starting salary, she finds that it is inadequate to meet her living expenses, car payments, and student loan payments.  After all the sacrifices she has made to reach this career goal, she is angry and frightened about her financial outlook.
  • Tim wants to micro-manage the family budget and it is driving Karen crazy. They have been married five years, and Tim’s attention to their money matters is becoming increasingly obsessive.  To assert her independence in this relationship, Karen frequently goes on shopping sprees.
  • Ken checks the market several times a day. On down days, he is filled with anxiety about his shrinking retirement nest egg.  Recently, after several days of steady declines, the Dow precipitously dropped another 300 points.  Ken immediately called his broker and demanded that she sell every one of his investments and put the proceeds into a money market.


Values & The Meaning of Money

core-values-nov-2015Values are the essential meanings relating to what is desirable or has worth. Like “quality of life,” values are subjective in meaning and unique to each individual. In a nutshell, our values reflect what matters most to us.

When thinking about values, we often think in terms of principles or standards we consider important such as “honesty,” “loyalty,” or “altruism.” We also tend to think of values in terms of what we hold most dear such as “my family,” “my faith,” or “my health.” (more…)

Business Succession Issues: Understanding Buy-Sell Agreements

business-succession-planningRunning into financial troubles isn’t the only reason that some closely held businesses fail to succeed. Their untimely demise may result from the lack of a formal plan providing for the orderly succession of management and ownership of the business. Such a plan frequently incorporates a buy-sell agreement as the tool for ensuring that the business will continue even after the departure, death, or disability of an owner.

To head off future problems, it pays to understand the uses and structures of these agreements. Although they can be adopted at any time, it is best to decide whether to put a buy-sell agreement in place as early as possible in the life of a business. (more…)