The Biggest Financial Mistake I See

The Biggest Financial Mistake I See

June 13, 2017

By Jere Smith, CFP®, CLU®, Financial Advisor at Point Wealth, LLC

When you are planning your retirement, it’s easy to get caught up in the numbers. You could find yourself wondering if there will be enough money. You may ask yourself what will happen if market volatility harms your savings. You worry that your money won’t grow and generate adequate income for retirement.

These are all valid concerns, but they lead to the biggest financial mistake I see retirees making: focusing on rates of return. Why is this a mistake? Because it’s not all about the money. Growing up, my father instilled in me the belief that what matters most is the people we love. My father believes that he is the richest man in the world not because of his bank account, but rather because of his family.

What We Truly Want

If you were merely worried about how much money you had, then the rate of return would be a valid measurement for decision making. But it’s more complicated than that. I have never met one person that only wanted to have the biggest portfolio possible or as much money as they could amass.

People think they want more money, but deep down, it’s not the money they care about but the freedom to do what truly matters most to them. Life is short, and we only have a finite amount of time to spend with those we love.

A Change Of Perspective

Instead of worrying about the dollars and cents, turn your attention to making meaningful memories with our family and friends. See a new place that you have always dreamed about. Use your free time to pursue your passions and participate in activities you enjoy. No amount of money or rate of return can deliver the things that are most important.

They only way to achieve this fulfillment in life is to be intentional, prioritize, and plan. I believe that if may of us were truly honest with ourselves, we wouldn’t care if our bank account was empty as long as we could spend each day doing what we love with the people we care most about. Finances don’t add enjoyment to life. Instead, they steal precious time and energy from us that we could be spending doing something truly meaningful.

I Can Help

The reality is we will have to spend some time dealing with our finances. But imagine designing your life in such a way that lets you do the best you possibly can with the resources and money you have while spending as little time as possible dealing with the financial details. Imagine the relief you would feel by eliminating the stress and frustration that money often brings. Then you could spend that extra time and energy on investing in the things you enjoy most.  

If you could accomplish this, what would that be worth to you?

No rate of return will make your life more enjoyable, but proper planning can help. If this resonates with you, I’d love to sit down and chat with you. I’m happy to offer you a complimentary consultation to discuss how we can make your money work for you and free up your life for the things that matter. Call us at 715-870-2450 or click here to contact Point Wealth Management in Wausau, Wisconsin.

About Jere Smith

Jere Smith is a financial advisor at Point Wealth Management, an independent financial planning and investment management firm. Serving individuals, families, and privately-owned businesses, he helps great people create great financial success through his services, including financial planning, retirement planning, estate planning, charitable giving strategies, and portfolio management. Along with nearly a decade of experience, he is a CERTIFIED FINANCIAL PLANNER™ professional and Chartered Life Underwriter, two of the most esteemed designations in the industry. He is passionate about education, whether it’s providing it to clients or adding to his own knowledge, and has written an article that appeared on Based in Wausau, Wisconsin, Jere serves clients in multiple states. To learn more, visit or connect with Jere on LinkedIn.

Investment Advisory Services offered through Retirement Wealth Advisors, (RWA) a Registered Investment Advisor. Point Wealth Management and RWA are not affiliated.

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