Money doesn’t define wealth. Money is simply a tool. It is how we trade our time and talents for our needs and wants, and how we turn our investment earnings into savings. When we think about how to use money to facilitate a purposeful life, “money the tool” rather than “money the measurement” becomes a starting place to talk about intentional wealth.
Broadening and clarifying the definition of wealth opens the door to seeing a more nuanced richness in life. When wealth is doing work that you love, sharing milestones with people who you love, and contributing to your community, wealth becomes defined by more than the money. The challenge is to consider that wealth is not about the money, but how we intentionally live our lives.
An intentional life is lived with both purpose and fulfillment. It is the embodiment of one’s goals, vision, values, culture, desires and dreams. This intentionality leads to a thoughtful life: we plan, we implement, and we are ready for the next opportunity, because we have clarity.
Intentional wealth is the result of a well-thought-out financial plan that aligns your vision with your money. A comprehensive plan considers how you want to live your life and what is important to you. It reflects your goals, vision, values, culture, desires and dreams.
A financial plan maps how you choose your investments and spend your money. It puts you in the position to respond thoughtfully to life as it changes, as you and your family grow, as you change careers, as you take on a new mortgage, as you consider how much life insurance to purchase, as you think about your retirement, and as you plan your legacy and estate.
An intentional life opens the door to intentional wealth. Both need a plan. Both are reflections of the relationship you have with yourself. For this reason, an intentional life is the pathway to intentional wealth. One cannot be true without the other. Wealth is the reflection of who we are. When we live fearlessly we find intentional wealth.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.
Securities offered through LPL Financial. Member FINRA/SIPC.