Hello, this is James Mayer, Branch Manager, from the Huffman Mayer Paolo Wealth Management group of Wells Fargo Advisors. 

 

James: Let's talk about financial reality versus financial fiction.

Good versus Evil! Superhero versus Evil Genius!

 

James: Here are a few scenarios:

 

Evil Genius: I want it all, the big car! The big house! The um.. happy wife! The neighbors have

it! Why not me? I want it all, and I want it now! Muahahaha

 

Superhero: Let me stop you right there.

Keeping up with the Joneses can be a very dangerous game when it comes to your finances as

well as your life.

If you've got your eyes on what your neighbors have, you might find yourself with a big hole in

your pocket. Pretty soon, you could find yourself deeper in debt and chasing things that

probably won't make you happy.

When you choose gratitude and seek contentment with what you have, you could be much

happier. Plus, your family (and your bank account) will thank you later.

 

Evil Genius: I need to earn more to save more. It's not worth saving if I can only contribute a

small amount.

 

Superhero: Your ability to save is defined by your discipline to sacrifice and set aside a

percentage of your spending. Your income level is not really a factor. And no matter the amount,

the younger you start saving and earning interest, the more years you'll have the potential for compound interest help to save the day! But you should start investing - even if you can only contribute a few dollars each month. Compounding has the potential to help your early years of investing "snowball" over time.

 

Evil Genius: I don't need a will or estate plan! Because I am young! Healthy! and I don't have

tons of money!

 

Super Hero: Planning for your death or disability is challenging. But it's one of the most

important things you'll ever do. Some people think they can skip making a will or estate plan

until they have kids, a lot of money, and property, or they will do it right before they die. So,

rather than those close to you handling your assets, an administrator from the probate court will

distribute them. Without a guardian, the State will decide who gets your kids. If incapacitated, a

judge must grant your spouse access to your retirement funds

 

James: Hopefully, good NAME gave you something to think about.

 

 

We always want to talk with you.  If you feel you know someone who would enjoy this video please feel free to send them the link.

As always stay happy, safe, and healthy and hopefully we will see you very soon.

Huffman Mayer Wealth Management Group of Wells Fargo Advisors

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