GEMS FOR YOUR WEALTH BUILDING JOURNEY

Spiritual Injection • May 12, 2022

No matter how you define wealth building, it’s important to start now. Time is one of the greatest factors when it comes to wealth building, so use it to your advantage. Here are four gems to remember on your wealth building journey.


The time is now


There is not a specific time when you should begin creating wealth. Begin with working towards paying debts off so that you have more disposable income to invest in stocks, bonds, businesses, etc. The more you owe, the less you have to invest.


Stack your savings


You need to have liquid savings before beginning to invest as a way to build wealth. This cash should be designated for emergency situations and kept in a safe place, preferably one that doesn’t get hammered by the sea of changes in the financial markets. A traditional savings account or money market account are options.


Double your money


Contributing to your employers retirement program can be considered investing; however, due to the fact that many people are living longer and healthier, it may not be enough to live comfortably throughout retirement. With fewer companies offering pensions, the burden of saving for retirement is on the individual and may not be enough. Research stock options, individual retirement accounts or additional wealth building options to double your money.


Experts exist for a reason


The best place to seek guidance is by contacting a CFP® (Certified Financial Planner). Investing is a good start towards building wealth, but it’s most impactful when incorporated in a plan. Without guidance, there may be instances where your investments may be negatively impacting your taxes and other parts of your planning.

Start where you are.

FIND PEACE ON YOUR FINANCE JOURNEY

By Spiritual Injection • 10 May, 2022
Before we dive into a few ways to find your zen regarding your finances, let’s dispel a common myth. You can establish and maintain financial peace regardless of your current financial situation. Find solace in the fact that you’re not alone – we deserve peace in all aspects of our lives.  Adopt a mindset of abundance No matter what state your finances were in, have been (or will be) that doesn’t mean your mind has to follow. Instead of viewing your finances as unbearable or stressful shift your perspective. View your finances as a work in progress, not a finite destination. Things have no choice but to become better when you focus on what you currently have versus what you don’t; gratitude is a daily choice. Before setting a budget or savings goal remember – your current financial state doesn’t determine your future. Instead of internalising what you can’t do, consider what you are able to do. For example, when the bills are being paid timely and your necessities are covered that is a step in the right direction. Keep your mind on the positives and work your plan as much as possible. Create a reasonable financial plan To have any level of peace, the plan that’s in place must reinforce positive and forward-moving actions. Create or re-establish a budget that’s conducive to your current financial situation. If you want to work on paying off consumer debt, save more or stack up an emergency fund make sure these goals are incorporated in your plan. Having a plan will provide the day-to-day peace that’s needed to progress forward. Invest in your future Where do you want to see you and your family in the next 10+ years? Peace comes from preparation. Double check your 401k and/or any investment accounts. If you need to begin long-term saving, remember it’s never too late. Solicit the help of a financial advisor to help you in case you need further assistance. No matter your income, keeping your future in sight will bring you peace of mind. Empower yourself – trust your decisions Making decisions that not only secure your financial future won’t always be easy. There will be challenging decisions that have to be made, along with sacrifices throughout the journey. No matter what, remember that time, effort, and consistency is always worth your financial peace of mind. Anyone can achieve financial independence; you aren’t an exception!

WAYS TO REDEFINE LUXURY

By Spiritual Injection • 02 May, 2022
Social media combined with self-comparison can lead you down the dangerous road of doubt, fear and overall uneasiness. “Why can’t I buy this? Why can’t I travel there? I wish I could drive that car. They seem to have it all together. Why is it taking me so long to get to the next level?” Before going too far, remember this: social media is a highlight reel full of things people choose for you to see. In order to stay true to who you are, check out these reminders to re-centre your mind and your finances.
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