Ditch the “Shoulds” and Honor What Matters to You
Too often, people encounter blanket rules of thumb about money and end up feeling bad and stressed, convinced they’re making the wrong choices. Guilt tends to lock people up. Instead of framing advice around what you’re doing wrong, it’s far more helpful to look for opportunities to build confidence and ease in how you spend and save.
Money is an interesting and fascinating topic—one that can trigger intense amounts of stress or, at other times, make you feel on top of the world. In my work, I’m in the unique position of talking with people about this often deeply personal subject. Sometimes I’m the only person in a client’s life they feel comfortable opening up to about money. We might have fun, exciting conversations about future goals or ways to align spending and investing with core values, but more often, we dive into the really hard topics. Those include tough tradeoffs, like how to support children today while also saving enough for one’s own retirement. And when I’m doing pro bono work, the choices can feel even more heart-wrenching: How much can you spend on groceries each month, and how do you make it all work on a tight budget?
What makes these conversations challenging is how profoundly personal they are. There is no one-size-fits-all approach. Sure, we could talk about rules of thumb—like saving 10–15% of income for retirement or aiming to replace 70–80% of pre-retirement earnings—but those metrics only matter if they connect to what’s important for that individual now and in the future. “Enough” might be $1 million for one client and $5 million for another. We can run projections and forecasts all day long, but the inputs to those models come from each person’s vision of how they want to live and what they need to feel nourished and secure at different stages of life.
I share this because I often see people get wrapped up in the “shoulds”—“I should be saving more,” “I should have started sooner,” “I should retire at 65.” Those voices are everywhere, and they can leave you feeling stuck. This is where it is really important to simplify things and boil everything down to what’s essential right now and what makes sense a decade from now so that you know you are ok. Instead of comparing yourself to what everyone else is doing, take a moment to consider what matters most to you and your own values.
This material is distributed for informational purposes only. Investment Advisory services offered through Journey Strategic Wealth, a registered investment adviser registered with the U.S. Securities and Exchange Commission (“SEC”). The views expressed are for informational purposes only and do not take into account any individual’s personal, financial, or tax considerations. Opinions expressed are subject to change without notice and are not intended as investment advice. Past performance is no guarantee of future results. Please see Journey Strategic Wealth’s Form ADV Part 2A and Form CRS for additional information.
