Orange on Green: A True Holiday Treat

Orange on Green: A True Holiday Treat

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Here we are again! The holiday season officially kicked off with Halloween, so what do you associate with the holidays? Most people think about food, tasty treats and sweets. Financially speaking, you can give yourself an attractive treat this holiday season … a feeling of financial competence and confidence.

 

Exciting? Maybe not as much as a rich slice of cheesecake or a piece of decadent chocolate, but the long-term benefits of financial competence and confidence can last a lifetime — and we don’t mean on your hips.

 

The first part of your "treat" is to make sure that you are protected. Consider Lisa: She visited with us, and after a review of her protection plan, we determined that she and her kids were vulnerable if Lisa would become sick or injured and couldn’t work for more than a year. They might have been forced out of their home if that had occurred. Fortunately, Lisa was able to correct this problem. As a result, she feels much safer in case she ever were disabled for a long period of time — a far better feeling than even the tastiest dessert.

 

The next part of your "treat" is to understand your cash flow. Notice we didn’t say budget. Budgeting is a dirty word … and it doesn’t work. Budgeting is dependent on wants versus needs, and everyone’s definition of wants versus needs is different. The key to cash flow is insuring that you live within your means. One common trait we’ve discovered amongst financially successful people is that they each spend less than they make. We realize this might seem obvious, but surprisingly, many fail to live up to this basic rule of thumb.

 

Allie came to us two years ago, upset because she couldn’t "get a handle on her money." After explaining the cash flow versus the budgeting concept, she began to prioritize her spending. She understood the concept of protecting her family from the unexpected, saving a portion of her income, and then rewarding herself for her hard work.

 

This leads us to the next part of the treat, which is the real treat. We are not advocating that you save all of your money and deprive yourself of life’s pleasures. You deserve to enjoy your hard work, so we promote the idea of balance … protecting your family, saving a part of what you earn, and enjoying the rest.

 

Living with this balance will give you a feeling of reward. When you lie in bed at night, you will know that your family is secure and that the money you’ve spent on yourself was well earned. And that feeling will stay with you long after the memory of your holiday treats are long gone.

 

Registered Representative and Financial Advisor of Park Avenue Securities, LLC (PAS). Securities products/services and advisory services offered through PAS, a registered broker-dealer and investment advisor. Financial Representative, The Guardian Life Insurance Company of America (Guardian), New York, NY. PAS is an indirect wholly owned subsidiary of Guardian. Lifetime Financial Growth, LLC is not an affiliate or subsidiary of PAS or Guardian. Orange Financial, LLC and Lifetime Financial Growth Company are not affiliates or subsidiaries of PAS or Guardian.

 

PAS is a member FINRA/SIPC