Hope is a thing with feathersOctober 20, 2020
“Hope is a thing with feathers” – Emily Dickinson
We all hope to be financially independent. That feeling where we know that we don’t owe anything to anybody and can live life feeling content. If your finances are secure your options are unlimited. You are free to try new opportunities and you no longer have to put up with overt harassment. Turning hope into financial independence takes many small steps. To begin your journey toward financial independence, you need a map and the right guide. The best guide is someone who has walked in your shoes and understands where you are coming from, and who can help you get to where you are going.
Step one, you need a plan! All great adventures start with a mapped-out plan. The plan should have an estimated cost and an associated approximate time frame. Once you commit your dream to writing, you launch the plan into action. Next, you will need a trusted guide. When you find the right financial advisor to act as your guide on this adventure, you will know it immediately. The best financial advisor will have created a culture that is supportive, honest and modern with no jargon and intimidation. This financial advisor will listen without bias and help you to overcome financial fears, encouraging you along the path toward financial freedom. It is by using a plan with the aid of a financial advisor and committing to consistently taking steps toward financial independence that you move toward the dream of financial freedom.
Step two, understanding the investments. Holding money in savings accounts is a losing proposition for the long-term. History has shown us that holding money in the market increases returns for investors. One of the oldest ways to enter the stock markets is by investing in individual stocks and bonds. A more progressive approach to entering the markets is by investing in funds that are a diverse blend of stocks and bonds. The funds available are varied in price, riskiness and objective so it is wise to have a fee-only fiduciary, financial advisor guide you through the various investment options. In the 1960s-1970s, socially responsible investing (SRI) was based in civil rights, environmentalism and the antiwar movements. SRI has evolved into environmental, social and governance (ESG) investing based in climate change and corporate governance. Today, investors of all sizes are finding that the fees, performance and availability of ESG investments make them a viable investment option. Many clients at SWM prefer to put their money where their values lie and invest in companies that are working to advance equality, humanity and the protection of the environment for future generations.
Step three, equality for all! Working with a financial plan, a trusted advisor and understanding the investment options available are great steps toward financial independence. But we could get to financial freedom a lot faster if we all had pay equity! We need the support of all men and women to reach equal pay for equal work. It is undeniable that we all have a little Wonder Woman inside of us, guiding us to be fierce, compassionate, loving and uncompromising with our values. RBG inspired our nation to dream about true equality and to dissent notions that don’t condone equality for all. As investors on this journey toward financial freedom, we have the power to put our money toward values that support equality for all and impact true change.
Financial independence can set you free! So, make a plan, find a trusted financial advisor, invest with your values consistently over a long period of time and you will begin to inch closer toward financial freedom.
For inspiration to take flight from the cage that is holding you back, I will leave you with the strong words of Maya Angelou.
“The caged bird sings with a fearful trill, of things unknown, but longed for still, and his tune is heard on the distant hill, for the caged bird sings of freedom.”
We would love to hear your story of reaching financial freedom!
Get in touch with SWM Connect today