Money and your Financial Purpose

Guest Post by Ben Offit, Offit Advisors

I have often seen some of the best financial planning clients – the ones who save and invest regularly, protect their assets, care about their futures and families, and are meticulous about being on track with their finances, and struggle to transition into retirement.

They have done a tremendous job and deserve credit for putting themselves in the fortunate financial position they are in. They have saved and lived within their means for so long, so starting to spend and use their money that they have accumulated feels so foreign to them. They aren’t necessarily depriving themselves, but they aren’t necessarily enjoying their position to the fullest either.

But the reality is that none of us will live forever, and everyone’s day will eventually come, and no one gets a reward for being the richest person in the graveyard. There are also many people who may have an underlying feeling or inkling as to what their purpose in life is or how they may want to use their money, but they don’t fully pursue it. There are many people who are successful with their money, but they also need to be more successful in not missing their opportunity to live their lives and enjoy a life of significance, right now!

Ultimately, everyone can and should utilize their money as a tool to help them enjoy life and realize their life’s purpose.

It’s their money, they have busted their butt to earn, save, and grow it, and as long as they are not jeopardizing their own financial security, they deserve to enjoy their money and utilize it towards fulfilling their life’s purpose today.

If one reaches the point of financial security and can afford to utilize their money, while not disrupting their financial independence, they should strive to take advantage of their position and look for daily opportunities to enjoy life, pursue their dreams, and live their purpose.  For example:

  1. If you want that extra tall coffee at Starbucks, go get it!
  2. If you have always dreamed of going to Fiji, go now!
  3. If you have always wanted to help your Son or Daughter launch a business idea that they have had but couldn’t afford to pursue it, help them now!
  4. If you have always wanted to help end poverty or end cancer, do something about it today!

Enjoy your journey along the way to the top of the financial mountaintop, but also don’t forget to enjoy the view once you get there.

The opinions expressed in this commentary are those of the author and may not necessarily reflect those held by Kestra IS or Kestra AS. The material is for informational purposes only. It represents an assessment of the market environment at a specific point in time and is not intended to be a forecast of future events, or a guarantee of future results. It is not guaranteed by Kestra IS or Kestra AS for accuracy, does not purport to be complete and is not intended to be used as a primary basis for investment decisions. It should also not be construed as advice meeting the particular investment needs of any investor. Neither the information presented nor any opinion expressed constitutes a solicitation for the purchase or sale of any security.

About the Author

Ben is a Certified Financial Planner and Principal at Offit Advisors, a full-service financial planning practice whose professionals serve individuals, families, and closely held businesses, through a client-centric approach. The firms possess significant experience, expertise, and resources within a broad range of matters including financial planning, tax planning, investments, and insurance.

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