Sometimes our clients ask us how they are doing compared to others. Our response is always the same: The numbers are irrelevant. What matters most is whether you are reaching your goals.
We don’t say this because it makes our clients feel better. We say it because it’s true. Our clients’ situations vary greatly in part because of choices they’ve made or opportunities they’ve taken advantage of that help them accomplish their goals.
For example: Some clients wish to fully fund a college education for their kids, while others anticipate scholarships or help from grandparents for those expenses. Others feel it’s important that their children fund their own education. Some clients want to make large donations to charitable organizations, while others give more heavily of their time. Some folks maximize their contributions to retirement plans; others have employer pensions that reduce the need to save on their own.
Our role in working with you is to help you identify your goals and allocate your resources toward meeting them. We’ll help you determine whether you’re putting enough aside for all of the things you want to accomplish, and guide you to be realistic about your objectives.
Remember: Net worth is only one way of measuring wealth. In the end, it doesn’t really matter how you stack up to others. What matters is whether you’re on track to realize the life you’ve planned.
Heidi Johnson Bixby is a CERTIFIED FINANCIAL PLANNER® professional and CEO and President at Johnson Bixby. Along with working directly with clients, she leads the firm’s long-term vision and mentors the financial planning team, helping ensure clients benefit from a thoughtful and coordinated planning approach. In her work with clients, she focuses on areas that continue to differentiate the firm including life transitions, retirement income design, tax planning strategies, and estate and charitable planning.
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