InFocus Fall 2023 - Now Is Always The Best Time To Start.

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Fall 2023

Dear Joanna,

What a summer it's been! Some economists believe women who came out in droves to Taylor Swift's and Beyonce's tours and spent on the Barbenheimer phenomenon averted a long-predicted recession. Bloomberg Economics reports that these events collectively added up to $8.5 billion to the U.S. economy in just three months. However short-lived these gains might be, we should acknowledge the magnitude of influence a product can have when its message is empowerment, self-expression, and personal autonomy in a country where women hold 80% of consumer spending power.

On the personal front, it was a summer full of adventure. Some highlights: animal and floral safaris in Botswana, Zimbabwe, and South Africa with my treasured life companion. Tracking elusive leopards and rhinos on foot with an animal tracker and storyteller Boyd Varty. And a transformational adventure retreat at Londolozi, South Africa, with an amazing Martha Beck, life coach, writer, and an all-around brilliant mind. Equally inspiring and moving was the week I spent working and playing with the fantastic team at Good Work Foundation -- winner of the International Imagine Education Awards and creator of Africa's first digital learning campus model for rural communities. Facilitating Money Wisdom Circles and coaching the staff and career track students made it clear that no matter where we come from or our background, we all desire and deserve financial security, better education, and good health. We want to learn, grow, and become better versions of ourselves.

I intend to take the energy and enthusiasm of the summer and the quiet of the mountains where I'm presently working to integrate my travel experiences into my life. For me, the fall has always marked a new beginning, a "new year" of sorts. It's the time to wipe away old habits that don't serve me and to focus on forming new ones better aligned with my values and vision of the "rich life."

While January is regarded as the start of the new year, I invite you to consider the beginning of fall a great season to turn over a new page, reflect on your financial well-being, and decide what you want to invite into your life. By the time the calendar new year rolls in, you may realize you're living your best life.

Dream. Plan. Prosper.

UNLOCKING YOUR FINANCIAL POTENTIAL: THREE STRATEGIES FOR SMARTER DECISION-MAKING

You’ve probably heard me say that personal finance is more personal than finance. That's why I believe that asking yourself better questions is a sure path to improving your financial well-being:

What three things would I need to do to get the desired result?

_________

We all know a few simple rules to live a healthy financial life. Spend less than you make. Build up an emergency fund. Save for retirement. Invest. Protect your wealth. It all sounds pretty simple, but reality is more complicated. It's complicated because we are complicated, and we live in a complex world. It's helpful to recognize that we all tend to make irrational financial decisions repeatedly. "Misbehaving" by Richard Thaler is full of research on how predictable our financial mistakes are. This research earned Thaler the Nobel Prize in 2017. Here are simple ideas that may help us improve how we pursue better outcomes in health, education, or personal finance. (Watch the 7 minutes video.)

Three ways we can all be smarter about our financial decision-making:

1) Be mindful of things financial. Be present and deliberate when dealing with your money. Keep these topics in front of your mind by reading a good financial blog (a shameless plug) or listening to a good podcast like Her Money. Or consider reading a good book about personal finance. Jean Chatzky, How to Money is a great introduction or, a refresher, on basics of personal finance.

2) Develop good habits. The expert on building better habits, James Clear, tells us that the trajectory of our life bends towards the direction of our habits. It's all about consistency. Doing one good thing a day, and waking up tomorrow, and doing it all over again. We live in a results-oriented world, and our results are a lagging measure of our habits. So, your bank account is a lagging measure of your money-saving and investing habits. I recommend you start reevaluating your money habits by reviewing your cash flow practice.

3) Be accountable to someone or something. Some are willing and able to develop their system to maintain accountability, but for many, a healthy relationship with a professional financial planner is the key. I offer this guidance on how to find a good financial advisor. (CLICK HERE TO DOWNLOAD.)

INVESTING WITH CONFIDENCE: LOOKING FORWARD, NOT BACKWARD

Stay informed. Join me for a conversation about major events dominating financial news in 2023, from the recent US credit rating downgrade to the rise of big tech stocks, and the impact these events may have on investors.

Investing with Confidence: Looking Forward, Not Backward.

Thursday, September 14 at 2pm CT.

Click here for details and to register.

WHAT I'M READING

MoneyZen: The Secret to Finding Your "Enough" by Manisha Thakor is a must-read for anyone who has ever struggled with a tangle of feelings around money, ambition, status, or a never-enough mindset. The book fearlessly exposes the corrosive power of collective and individual insecurities, constantly reinforcing the belief that we never have enough, do enough, or are enough. It is a touching personal account of Manisha's struggle with her near-brokenness under the veil of wealth. It is also a well-researched, clear, and wise prescription for breaking free from destructive cultural hooks. It's another set of thoughtful ideas from a tireless advocate for women's financial well-being, advisors' advisor, and a dear friend who greatly influenced how I practice as a wealth advisor and financial life design coach. Check it out.

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