By Caroline Wetzel, Certifi ed Financial PlannerTM
versation. Normally you don’t think of “cof- fee” with wine and cheese. What was also unconventional was what we were talking about: dreams, fears, and fi nances.
O What led up to that inspiring discus-
sion? An enthusiastic reader of my profes- sional eNewsletter, “Coffee Breaks with Caroline” invited four of her friends to her home, and over different foods and beverag- es that helped everyone feel as comfortable as possible, we talked about questions they had with strategies that all women should consider when it comes to their personal fi nances. The whole experience was quite moving for me, as it is every time. I have no- ticed some powerful similarities across the, “Coffee Breaks with Caroline” that I have been privileged to offer.
First, I often am friends only with the
host before I venture into her living room or kitchen, toting coffee to share. Second, though all the women who attend each ses- sion are very accomplished in life, they have different degrees of confi dence with the de- cisions they are making with their fi nances. Thirdly, and perhaps most profoundly, all of the women I’ve met have a cautious curios- ity and a sincere openness to refl ecting on their fi nancial situations and both listening to perspectives from me and sharing when it works for them.
As I refl ect on these meaningful “Cof- fee Breaks with Caroline,” I encourage you to take a moment and consider your own fi nancial situation just like these courageous women. In this month where we celebrate our nation’s independence ask yourself: “What does fi nancial independence look like for me?” Regardless of where you might be in this moment on your own journey to fi nancial independence, here are three perspectives that I, as a Certifi ed Financial PlannerTM
, offer you:
n a recent bright Sunday afternoon, fi ve women and I enjoyed wine, cheese, coffee, and amazing con-
Three Perspectives on Financial Independence )
(CFP®
1. You are more than your fi nancial net worth. Your fi nancial net worth is a snapshot at a point in time. It refl ects what you own and what you owe today. It does not defi ne you; it is an indica- tor. Consider it an input to your overall fi nancial health that refl ects decisions you have made and circumstances both within and outside of your control over time. Just as with any metric, you can use this measure as a source of informa- tion and, as a result of refl ecting on this information, determine what’s in your control and make changes to positively infl uence your fi nancial future.
2. You can positively infl uence your fi nancial future. Regardless of how you have used money in the past, you can set yourself up for success with your fi nancial future by spending less than you earn, maintaining emergency savings, and investing some amount of your savings in tax-deferred retirement accounts as well as taxable brokerage accounts. It may not be possible to do all of this today, but it is possible to do. It becomes possible moment by mo- ment, day by day, with every decision you make each time any money comes into your control.
3. Life happens. As I tell my own clients: “Life does not happen according to plan”. Think of your fi nancial plan as your prioritized list of what you need, want, and wish to spend your money on both now and in the future. When things are tough, having a plan makes it easier to focus on what you need to take care of fi nancially. When you’re introduc- ing new savings behaviors or spending less, you’re able to stay motivated when you have an inspiring vision for yourself around what you want and why you’re changing behaviors. Key here is to real- ize that since life will present surprises no matter what, it’s critical to retain
focus on your fi nancial priorities in life, most importantly savings and investing strategies that will set you up for success over time.
Wherever you might be right now on
your path to fi nancial independence, know that you have options. As my father-in-law once told me, “Life is a series of priority calls.” And when it comes to how you spend your money, you can prioritize *you* by choosing with care and intention how you save, spend, and invest your fi nances.
If you would value a confi dential com- plimentary conversation about your current approach to your fi nances, or if you and a group of friends would like to have your own “Coffee Break with Caroline,” know that I am here. It would be a privilege and a pleasure to understand what is important to you and offer fi nancial perspective that you can use to realize fi nancial independence with confi dence.
Caroline Wetzel is one of Natural Nutmeg’s 10Best Win- ners for Business/Life Coach. Caroline is a Certifi ed Finan- cial PlannerTM
(CFP®) and Vice President, Private Wealth Advi-
sor with Procyon Private Wealth Partners, LLC. Procyon Private Wealth Partners, LLC and Procyon Institutional Partners, LLC (col- lectively "Procyon Partners") are registered investment advisors with the U.S. Securities and Exchange Commission (“SEC”). This article is provided for informational pur- poses only and for the intended recipient[s] only. This article may also include opinions and forward-looking statements which may not come to pass. Information is at a point in time and subject to change. Procyon Partners does not provide tax or legal advice. See ad on page 17.
www.NaturalNutmeg.com
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