When was the last time you went to the doctor because you felt great? The impetus for making that appointment is usually preceded with discomfort, pain, or just a general sick feeling.
Normalcy rarely creates action.
Financial advisors and physicians are similar in this way. Both are usually on the receiving end of something gone wrong. Clients don’t come to me because they haven’t lost any money and just want to say help. I see the unhappy, the disappointed, and disillusioned, but this is changing.
Like the rise of preventative medicine, there is growing trend towards replacing financial catastrophe recovery with avoidance of the catastrophe in the first place. It’s an approach in which the only Wall Street is Your Street and the best long-term is the one made in your long-term happiness.
Granted, this idea takes a while to break through. The financial factory brims with opaque rhetoric it creates unnecessary complications that only serve to discourage the common sense answers, which are routinely ignored.
Like our physical health, our financial health can be extended by leveraging preventative maintenance. Healthy financial living isn’t a matter of luck or inheritance. It’s a matter of information and the courage to follow better ideas.