A Letter From Pete

Dear Friends,

To those of you who know me this will come as a surprise…I will be running in the Twin Cities Marathon on Sunday.  I know, right?  I never thought running would appeal to me but here I am, about to embark on 26.2 miles of “The most beautiful urban marathon in America©” in 4 days.  Over the last few months of training I have had a lot of time to think. A LOT!  An important theme has repeatedly come back to me as I run, and I wanted to share the connection I made.

My role as a Financial Planner is very comparable to training for a race or maintaining a healthy lifestyle.  The similarities between physical fitness and financial fitness are striking.  I wanted to share them in the hopes they can help you reach a better place tomorrow than you are today.

Start by Setting your Goals  

Write them down and pin them up.  Having a reminder of where you want to be – either fitness-wise or financially – will help keep you motivated.  When you are goal setting, be sure to create big picture goals but also some smaller goals as well.  Recognizing and rewarding smaller goals is important.  Each small step makes bigger steps more achievable.  Physical fitness doesn’t happen overnight and neither does financial fitness.  Celebrate each achievement and keep your momentum going.

Create your Plan

“A goal without a plan is just a wish,” Antoine do Saint-Exupery (1900-1944).  How often you work out, what your calorie intake is and how much sleep you want to get all need to be part of your workout plan.  Just like spending plans, income objectives and savings plans should all be included in your long term financial plan.  There’s no one plan that will work for everyone, so make sure your plan is reflective of your life.  Having unreasonable expectations will only breed frustration and failure.

Make Sure you are Doing it Right

Research best practices for exercises, for training methods and for healthy diets.  Hire a trainer or join a gym if you like.  Make sure all your efforts are working together to help you achieve your goals most efficiently.  This translates directly to finances.  Make sure you are using tax efficient strategies when possible, as well as cost efficient strategies for savings and investing.  Enlist professionals where needed to assess risk or to help evaluate and track the big picture. 

Stick to the Plan, but Adjust to Changes

Inevitably, life will get in the way of even the best plans. You take vacation, you get sick or you just have to work late and workouts are missed.  It’s ok – don’t get frustrated, just roll with the changes and get back on track as soon as you can.  Everyone deserves a mulligan now and again.  Financially that could be job changes, job loss, car repair or house issues.  Proper planning will have reserves built up for this, or have other changes ready in case of emergency or unexpected events.  Your big picture plan must be fluid enough to adjust to changes over your entire lifetime, working and retired. 

It Doesn’t Matter Where you Start, it’s Where you Finish

We all have different lives.  Balancing work, home and fitness isn’t easy, but small changes over time can add up to big results in the end.  Whether that means increasing the number of ab crunches by one each week or by increasing your retirement savings by 1% each year, the results over time can really add up.  

It’s Important to Just Get Started! 

I’ve never heard someone say “I just wish I would have waited longer to get started” either about finances or exercise!          

For me, this race is the culmination of a healthy lifestyle choice I made over 18 months ago.  In March of 2015 I was 6 months removed from back surgery and very much unfit and unhappy.  If you would have told me I would run a marathon in my life I would have laughed and eaten more ice cream.  I distinctly remember the struggle to run just one mile my first week at the gym.  Through goal setting, planning, hard work and dedication, on Sunday I’ll be running a marathon. 

A successful financial future also takes planning, time and dedication, and the rewards are even better than a finisher’s shirt and a medal.  If you have questions about your financial picture, let me be a resource. Conversations are confidential and there’s no cost or obligation.  I work with clients in a variety of ways, according to the help they want and they need.   If there’s a way I can help, I’d be honored to be a part of your journey to a better tomorrow.       

 

All the best -

 

 

About us:   Diversified Wealth Management is an independent financial services firm. We offer a vast array of services to assist both our individual and small business clients, including Fee-Based Advisory and Investment services.  Diversified Wealth Management appreciates the value in starting early and starting right. By starting with a comprehensive planning approach, our clients are equipped with tools to use for the long term, not stuck in products that pay a high commission.  

Diversified Wealth Management – Putting the PERSONAL back in Personal Financial Planning.

 

 

Securities offered through Securities America, Inc. A Registered Broker/Dealer, Member FINRA/SIPC and advisory services offered through Securities America Advisors Inc. Peter Zvanovec Representative.  Diversified Wealth Management and Securities America are independently owned.