The truth about finances and luck

By Lis McNealey Davies, CDFA®
Owner, Financial Advisor

It’s true that we all have the ability to get lucky in life, and that includes our finances. However, in my many years of working in the financial industry, I’ve learned that the most financially successful individuals are consistent in their planning and never leave their finances to chance.

Here are a few reasons why a long-term, focused approach to your finances is the best way to ensure you’re seeing financial wins in the future.

Knowing what you pay, pays off
Know your expenses. We all hate the word budgeting. It makes us feel confined and trapped. However, we need to know what our expenses are. It’s not to make a judgment on where we spend money, but we need to know what we spend per month. We need to keep expenses less than our income.

Steadily saving provides advantages
Save. We all must save for any financial goal we have. We can save through employer retirement plans, brokerage accounts, savings, IRAs/Roths, but we need to save. Each person needs to save monthly.

Planning puts you on the path to success
Plan. Create a plan that defines your goals. Run an analysis to project the future cost of the goal and then save to meet the goal. Review annually to make sure you are on track to achieve that goal.

Don’t leave your finances to luck! Our team can help you build a plan for the future that is based on strategy to meet your needs.

Lis McNealey Davies is owner of The Arlington Group Investment Consulting. A true leader in the female focused financial advisory niche, Lis builds upon the group’s strong foundation and core offerings to drive growth and champion the group as an emerging advisory company in the divorce, widowed and life transition niches. As a previous divorcee and mom to three wonderful daughters, Lis understands firsthand the importance of financial confidence.

The use of the CDFA® designation does not permit Wells Fargo Advisors or its Financial Advisors to provide legal advice, nor is it meant to imply that the firm or its associates are acting as experts in this field. Wells Fargo Advisors Financial Network is not a tax or legal advisor. Be sure to consult with your own tax and legal advisors before taking any action that may have tax or legal consequences.

Investment products and services are offered through Wells Fargo Advisors Financial Network, LLC (WFAFN), Member SIPC. The Arlington Group Investment Consulting, LLC is a separate entity from WFAFN.