Our doctors tell us to lose weight, eat well, exercise, and avoid stressful activities. Our financial advisors tell us to earn more, spend less, and plan for tax, estate, and insurance contingencies.Yet, if you spend less, earn more and plan your finances, you very well may gain weight, eat a poorer diet, exercise less and encounter more stressful activities. Think about it. Earning more generally involves working more hours, which results in less leisure time, often requires eating a less healthy diet, and reduces the energy (or motivation) to adhere to a regular exercise routine. Spending less means paying less for preventative health care and cutting down on entertainment and exercise expenses. I do not think I need to discuss the stress associated with planning for tax, estate and insurance issues.

In today’s society few of us follow the advice of both our medical and financial advisors. In fact, most of us do not follow the advice of our medical or financial advisors. Failure just is not an acceptable outcome in American culture. Sensing failure, I think that many Americans simply give up on both fronts.

Striking a healthy balance between sound medical and financial advice is key to defining what is important to each of us and coming to understand, at a very fundamental level, what we want out of life. This line of thinking can go a log way in helping us set and prioritize life goals and, ultimately, help to ensure that we live fulfilled lives.

Perhaps what this outlook really achieves is it helps to strip away the financial biases and misconceptions we have about finances. For example, many of my clients have discovered that their sense of satisfaction and self-worth come primarily from their ability to use their career to help others. This discovery has allowed them to restructure their employment arrangements, so that they can focus their time and energy on the rewarding portions of their jobs and so that they can continue their work for the remainder of their lives.

Other clients discovered that they had underestimated how important their family and community would be in their lives. This revelation has allowed them to forego moving to a retirement village in Florida and presented them with an opportunity to start planning for how they can stay involved with and important to their family and their community.

As a financial advisor, I do have an obligation to tell my clients to earn more, spend less, and plan for tax, estate, and insurance contingencies. I also have a duty to help my clients understand and prioritize their life and financial goals.

By: Robert Klein
Klein & Klien Insurance Consultants
1811 Santa Fe
Houston, Texas 77703