Getting in shape is tough these days. Just finding time is often tough for me. Between meetings and deadlines, carting the kids to school and activities (almost every night there seems to be a different activity), making dinner, and helping with homework, there’s very little time to spend an hour at the gym – or even at my “home gym”. Before kids, there was much more time, and in hindsight, I don’t think I knew how to make the most of that time. I didn’t necessarily waste time, but I wasn’t always pushing myself to the limit each day either.
The things that limit performance in getting in shape physically aren’t too dissimilar from the things that limit our performance of getting in shape financially. I work with doctors primarily, and they’re some of the most educated people on the planet. Yet, their finances aren’t always a priority, let alone in shape. Between clinic, family life and kids, outside activities, and trying to keep pace with their respective fields changing each month, finances aren’t the number one priority most days.
I feel like I’m a teacher more than an advisor, because, in my opinion, education is the key to making good financial decisions. And there’s not one financial decision that works for everyone. Just like each patient wants a slightly different treatment plan, based on their outcome objectives, doctors want slightly different financial services and products in their plan. To accomplish this effectively, education is needed, and that takes time and effort. Like getting in shape, finding the time, effort, and energy can be difficult; so, too, is finding the time, effort, and energy for maximizing your financial decisions. Yet both financial well-being and physical health, I’d say, are two of the most important objectives you can conquer today. It takes work, and it takes time.