ST. CROIX INSIGHTS

Building Your Wealth: A Step-by-Step Approach

BY BRETT ANDERSON/ST.CROIX ADVISORS, LLC
Back view of extended family exploring the best place for their picnic in autumn. Copy space. Man is aiming at distance.

It’s time to start enhancing your wealth one step at a time. But how do you accomplish this? Break it down and take it slowly. It doesn’t happen in one day.

It starts with small decisions that build up over time to create a big impact. Reflect on your relationship with money. How do you feel about it? Are you secure and confident, or do you experience worry and insecurity? Understanding your attitudes towards money is important before making any financial moves.

Once you understand where you are coming from, it will be easier to begin to shift your thinking. Money is just a means to be able to do the things that you enjoy. If you aren’t enjoying your life, no amount of money is going to change that.

1. Define your values. What is it that sets you on fire and gets you up in the morning? What do you look forward to at the end of the day or the week? What truly brings you joy and happiness in this world? Maybe when you think about all of this you realize that the best things in life are free for you. In that case, wonderful. However, the fact of the matter is that life costs money. Even just spending time with those you love usually involves a meal, a destination, or some type of entertainment.

2. Cut out the unnecessary stuff. Do you have a junk drawer at home? The one with miscellaneous pens, rubber bands, and free giveaways? Why is it that we hang onto so much that has no value? We live in a culture that loves stuff. It somehow became a sign that someone has ‘made it’ when they have a bigger house, more toys, and a flashier lifestyle. But what in your life could you do without? I’m guessing a lot of it.

3. Reframe your thoughts. When you think about saving vs. spending, shift your mindset. Would you rather get an expensive coffee drink with a flavor shot and whipped cream on top every day of the week or retire to a house on the water where nobody knows your name? Life is full of trade-offs. If we don’t begin considering future consequences in our present decisions, we’ll never have contentment down the road.

4. Finally, discuss with others. Yes, some consider it taboo to talk about personal topics like money. But we should feel encouraged to engage in open conversations with trusted advisors and peers. Sharing experiences and insights can provide valuable perspectives and help you navigate financial challenges more effectively.

Wealth accumulation is not just about amassing money; it’s about aligning our financial decisions with our long-term goals and aspirations. By taking small steps today, we can create a brighter and more prosperous future for ourselves and our loved ones.

Reach out for a free consultation if you want to discuss your current financial strategies or future plans. 

 

It’s time to start enhancing your wealth one step at a time. But how do you accomplish this? Break it down and take it slowly. It doesn’t happen in one day.

It starts with small decisions that build up over time to create a big impact. Reflect on your relationship with money. How do you feel about it? Are you secure and confident, or do you experience worry and insecurity? Understanding your attitudes towards money is important before making any financial moves.

Once you understand where you are coming from, it will be easier to begin to shift your thinking. Money is just a means to be able to do the things that you enjoy. If you aren’t enjoying your life, no amount of money is going to change that.

1. Define your values. What is it that sets you on fire and gets you up in the morning? What do you look forward to at the end of the day or the week? What truly brings you joy and happiness in this world? Maybe when you think about all of this you realize that the best things in life are free for you. In that case, wonderful. However, the fact of the matter is that life costs money. Even just spending time with those you love usually involves a meal, a destination, or some type of entertainment.

2. Cut out the unnecessary stuff. Do you have a junk drawer at home? The one with miscellaneous pens, rubber bands, and free giveaways? Why is it that we hang onto so much that has no value? We live in a culture that loves stuff. It somehow became a sign that someone has ‘made it’ when they have a bigger house, more toys, and a flashier lifestyle. But what in your life could you do without? I’m guessing a lot of it.

3. Reframe your thoughts. When you think about saving vs. spending, shift your mindset. Would you rather get an expensive coffee drink with a flavor shot and whipped cream on top every day of the week or retire to a house on the water where nobody knows your name? Life is full of trade-offs. If we don’t begin considering future consequences in our present decisions, we’ll never have contentment down the road.

4. Finally, discuss with others. Yes, some consider it taboo to talk about personal topics like money. But we should feel encouraged to engage in open conversations with trusted advisors and peers. Sharing experiences and insights can provide valuable perspectives and help you navigate financial challenges more effectively.

Wealth accumulation is not just about amassing money; it’s about aligning our financial decisions with our long-term goals and aspirations. By taking small steps today, we can create a brighter and more prosperous future for ourselves and our loved ones.

Reach out for a free consultation if you want to discuss your current financial strategies or future plans.