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Are You Financially Resilient?

Are You Financially Resilient?

March 01, 2022
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I was privileged the other day to have a conversation with my teenage granddaughter. If you have teenagers in your life, then you understand why I would call it a privilege to be invited into her confidence. As she unloaded her burden of trials and tribulations, I realized that though maybe a bit dramatic at this age, her worries and uncertainties are part of the universal human experience. The things that occupy her mind will change as she matures, but her reactions and resolutions will be familiar.

Listening to her current troubles made me recall the simplicity of her childhood. I remembered a joyous, energetic 5 year old bouncing up and down on a small trampoline we had set up for her in our basement. I could even hear the squeak of the springs as she jumped and fell, and I remembered the look of glorious joy and freedom on her face when she felt the air and buoyancy underneath her feet. She had no idea what made it work, but she was exhilarated by the physical power of her jumps being amplified by the resilience of the trampoline.

I noticed a contrast between that joyful interaction with the trampoline and the weight of her struggles today. Now that she is not as carefree as she once was, she doesn’t find that freedom so easily. When any of us are pushed down, pressured, and under the burdens of life, how do we find resiliency to bounce back and rise higher than before?

The answer to that question is unique for everyone, and I encourage you to think about how you have been resilient in your own life. Some people rely on relationships, others take time to reflect at favorite places, and many people turn to their spirituality for guidance and strength.

You may be wondering what all this has to do with finance. We are in a time, not the first and not the last, where many people feel pushed down, pressured, and burdened by financial turbulence. Resiliency is necessary for bouncing back and rising higher than before. Achieving resiliency in personal finances, markets, and economies requires a more practical approach than in many other facets of life. Strategies are unique from one individual to the next, but diversification is the underlying principle for facing current conditions with confidence. Diversification is spreading your assets and wealth among different resources to balance protection and growth.

My clients and I often discuss this concept of resiliency. They understand that today’s numbers are important, but they’re not the whole picture. Just as I counseled my teenage granddaughter to consider the future importance of today’s problems and decisions, I advise my clients to keep an eye on the road ahead so that they are most resilient.

We can’t control the markets or the economy, but we can effectively manage our reactions with a recovery mindset. Clients invite me into their confidence so that I can help them practically examine values, goals, and tolerance for taking risks. They trust me because I come to them with an open mind, a heart for service, and a calm voice of reassurance to promote prosperity and financial resilience. If you’d like to feel more in control and confident of your financial destiny, contact me to start a conversation.