Wealth is very personal. If you’re like me and grew up in a stoic rural Iowa town, you know people there don’t talk about their wealth. They don’t brag and they certainly don’t want their neighbor to know just how good – or bad – they have it.
Frankly, I think that’s the way it should be. But being private and going the battle alone are two very different things.
Money is not the end-all-be-all some make it out to be. That said, it is a tool – a very important tool – that allows us to live our lives the way we choose. Handled correctly, it is the tool that provides the retirement you desire, education for your children and the security to make choices. Handled poorly, money – or the lack thereof – can be an emotional drain on you and your loved ones.
I was once having some work done on my home and got into a somewhat heated discussion with the contractor about the way he was handling a certain task. He bluntly asked me, “Do I come to your office and tell you how to do your job?” It was less than tactful, but he made a lasting impression. I may consider myself handy around the house, but I haven’t made it my life’s work to understand his trade. I don’t have his experience, and I certainly don’t have his skill set.
When it comes to managing your wealth, the same lessons apply. When are your needs from a wealth management perspective outpacing your experience and skill set? When are they demanding more of your time than you can, or want to, devote? That’s when it’s time to find a professional who can help you take your plan to the finish line.
It’s sometimes difficult for us to ask for help. But I know this: if I had tried to do that home improvement project on my own, I’d still be working on it instead of enjoying it with my family.
