I recently ran across the work of Dr. Trevor Kashey, and found something he said very interesting. Dr. Kashey is a scientist who works primarily in the field of nutrition. What he said that stuck out to me was that “an answer is not the same as a solution.”
What he means is that often times, we might know the answer to a challenge we are facing, but that answer doesn’t help us actually solve the problem. In nutrition, for example, when someone wants to lose weight, the answer is to consume fewer calories than they burn on an average basis for a certain period of time.
But we all know, losing weight isn’t easy, and the advice to “eat less than you burn” might be accurate, but it isn’t the solution that most people do. In other words, it might be simple, but it definitely isn’t easy.
I love this concept because of its application in the areas of money and finances. In theory, achieving financial goals is simple – take small actions over long periods of time.
Save “x” amount of dollars for “y” number of years and you can easily figure out where you will end up (not accounting for market conditions of course).
Spend less than you make. Give, save, live on the rest. It all works!
And though the concepts might be simple, we all can agree that being financially successful, whatever that looks like for you, isn’t easy. When you add in the elements of human psychology and circumstantial change in life, it can feel downright impossible.
That is why, when it comes to nutrition, people often seek advice, whether that be from Google, a coach, an online program, or a nutritionist.
That is also why I am a firm believer that everyone needs, but more so deserves some level of financial advice. Having someone look from the outside in and guide you along the way is one of the best ways to ensure you have a plan in place and are accountable to that plan along the way.
There are a million ways to get that advice, some free, some paid for. I encourage you to find the method that works well for you, and you alone. It might be online research. It might be online advice. It might be working with a financial advisor.
Whatever the case may be, know that there isn’t one right way or one right answer. There is only what works for you, based on your unique and specific goals, circumstances, and desires.
As you head into a long holiday weekend, I hope you get some time away to be with family and friends, and maybe a little time to just sit with your thoughts. I find sometimes that leads to some interesting discoveries.
If there is anything I can do to help, even if it is just to provide some thoughts or a second opinion, please feel free to schedule a meeting below or give us a call. We’d love to help you out.
Have a safe and happy Labor Day Weekend!
Grant Ellis, AIF® | Managing Principal