Have you stress tested your money? - Sutton Benefits & Pension

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Have you stress tested your money?

For years, my three daughters have been begging my wife and me to get a dog.

With three busy girls all in different activities, we never felt that we had enough margin in our lives to bring a new member into the family.

That all changed this year.  With the pandemic changing our schedules and freeing up time, Keri and I decided to surprise the girls with a Goldendoodle puppy at the beginning of October.

Hugo has quickly wriggled his way into our hearts.

I had a couple of dogs growing up, but we never took them to the vet regularly.  It just didn’t seem like it was all that common in those days – we just figured things out on our own and took them to the vet if there was an issue or concern.

Not so with Hugo – he’s already had two vet appointments as we want to be proactive with his health and make sure he’s getting everything he needs to be healthy and happy.

Everything is more complex these days.  As technology and knowledge has advanced, specialists in all fields have had to up their game.

Take the world of mechanics for example.  In the good ole days, when your car was on the fritz, your mechanic needed a trained eye and ear to figure out the problem. Today, they need both mechanical AND computer training. The engines and systems are much more complex.

Your engine needs to be hooked up to a computer to properly diagnose hidden issues and fix them.

Your money is no different.

Part of “stress testing” your wealth is to test your wealth engine to determine how efficiently it’s running and expose hidden dangers. Wealth friction is a hidden danger stealing your money. Tricking you out of money that you deserve.

I use the acronym T.R.I.C.K to help people understand how their money can be lost unnecessarily:

  • Taxes
  • Risk
  • Investment mix
  • Cost
  • Knowledge gaps

As you look over these, you see five areas where your money can be lost.

It’s essential that you have your wealth engine stress tested. Let’s hook your wealth engine up and see where you may be losing money… and get your engine running efficiently.

 

Retirement, a time to enjoy all the things you never had time to do when you worked.

– Catherine Pulsifer