When we think of our finances, we immediately think of our portfolio. And many of us stop there.
But there is so much more to building your Best Financial Life, and I want to share with you the magic equation that will determine your success or failure in your finances.
(What you have) + (What you make) – (What you spend) = Your success or failure
Now, looking at that equation, consider where your portfolio fits. It is simply a part of the “What you make” figure.
Focusing so much attention on your portfolio leaves out some very important considerations such as:
Knowing you get value for every dollar you spend
Ensuring your loved ones are taken care of if you pass away
Being tax-smart regarding your income over your life
Understanding how your finances will allow you to do everything you want
Are you ignoring the rest of your financial equation?
For more details, check out a deeper analysis at www.BestFinLife.com/blog, but in this space I want to simply make the point that this can be very important.
For a limited time, I am offering a completely FREE financial conversation on the topic of your choice. FREE, that is, from cost and also FREE from any sales pitch. Simply schedule your call here: www.calendly.com/bestfinlife/free-financial-conversation.
Best Financial Life is a Registered Investment Advisor with the State of California and Joe Morgan is a fiduciary to his clients at all times.
By Joe Morgan, CFP®, CFA, Principal: Best Financial Life, Resident since 2004