Investing in Your Ideal Future Self
Common Sense Financial Podcast
Promoting the Brian Scrabonia website and encouraging social media engagement
In this chapter, the hosts express gratitude to the listeners and invite them to access the full archive of blogs and podcasts on brianscrabonia.com. They also encourage signing up for free to receive new content and promote Brian's social media channels. Furthermore, they provide information about Scrabonia's services including tax, wealth management, and insurance.
The concept of investing is often associated only with money and the pursuit of wealth, but this fails to capture the true essence of investing.
An ideal future isn’t encapsulated by a stack of $100 bills.
The true essence of investing is not about building wealth, but about building the atmospheric conditions that align with your ideal future self.
Listen to the latest episode of the podcast to learn why a relentless focus on accumulating wealth will end up costing you what you’re actually working for, and why you need to have a more encompassing vision for what your retirement can be beyond your portfolio.
- Your quality of life isn’t determined just by the number in your bank account. Those dollars are merely the resources you use to create the ideal life.
- Wealth extends beyond the mere accumulation of money. It’s about the life you can construct around it and the atmospheric conditions you can create for yourself.
- You can possess all the wealth in the world, but without the cornerstones of a healthy life like thriving relationships, health, purpose and meaning, the value of that wealth diminishes.
- We need to exercise caution in our perception of wealth and the significance we ascribe to money. Investing shouldn’t only mean contributing to your financial future but should be considered building towards your ideal future.
- Having a vision for your retirement that involves activities and people requires a keen understanding of what’s important.
- Brian had a client who embodied the rags to riches narrative that people in the West admire so much, but after years of diligently working toward accumulating his wealth, this client ended up sacrificing his health. Instead of traveling the world and enjoying the fruits of his labor, this client spent his golden years visiting doctors and hospitals.
- “Man sacrifices his health to make money, then he sacrifices his money to recuperate his health.” -Dalai Lama
- A healthy lifestyle lays the foundation for our capacity to live fully and pursue our ambitions actively. The importance of investing in health can not be overstated.
- Along with health, investing into your relationships is paramount. Relationships form an integral part of our support system. The rewards are not always monetary, but they are no less important, and investing time into relationships is crucial.
- Investing into a steady flow of income beyond just building a portfolio is another key component to enjoying your retirement.
- Growth is not income generating and growth is not the same as income. Retirement needs to be a time of shifting from a diversification of growth assets into a diversification of income producing assets.
- The true essence of investing is not about building wealth, but about building the atmospheric conditions that aligns with your ideal future self. That includes nurturing your health, cultivating meaningful relationships, ensuring a steady income, and fostering cognitive ability.
- Money is a tool to reach those goals, and not the goal itself.
- Retirement should be seen as a chapter in your life that is ripe with potential.
- True wealth is not just the abundance of money, but the presence of all the components that make life fulfilling.
Mentioned in this episode:
Previous episode - Make Health Planning Part of Your Retirement Planning, with Regan Archibald
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