Monday, July 12, 2021
When I talk about financial wellness–something I do all day every day–people see the enthusiasm I have for helping people build better lives for themselves and their families. It is not a part-time passion or something that I do to make money. It is a desire to see more people leave the stress of their personal finances behind and be able to fully experience the happy moments in life such as walking down the aisle, bringing their newborn home, stepping into their first house, waving as their child leaves for college, and taking that dream vacation in retirement.
The past decade has seen the stock market soar to record heights and helped build wealth for many people. Much ink has been spilled describing how this has accumulated in the hands of the few but those of us with our retirement savings invested in the market have benefited. However, it is absolutely true that many of us are struggling:
Too many families living paycheck-to-paycheck–or in a situation where paycheck-to-paycheck would be an improvement.
Single parents struggling to pay the spiraling rents and daycare costs while working.
Families unable to even glimpse the dream of homeownership.
People in middle-age with more debt than retirement savings.
People taking Social Security early because they have been downsized and cannot find employment.
People who are paying interest on debt from the day they turn eighteen to the day they die.
Where can these people turn for guidance? To their friends and family who might be in as bad of a situation as they are? To the Internet and the clickbait personal finance articles about “Ten Ways to Save Money on Your Honeymoon” or “The Five Credit Cards With the Best Rewards”? To the financial “advisor” who is advising them to purchase the mutual funds and insurance products that pay the largest commissions? To the debt consolidation company that is taking a dime of every dollar?
For many people with little money, the only financial professional that will take their call is the advisor for their company-sponsored retirement plan. Their 401(k) advisor wants to help but often does not have the time or resources to hold someone’s hand as they go through the multi-year journey of paying down their debt and achieving the financial means to pay for more personal and in-depth advice.
Wallet1000 creates a personal map for each individual’s financial journey. It is simple-to-use and will be there every step of the way with actionable educational content, automatic reminders, and an organic plan for navigating around the bumps in the road on the way to life’s big events.
Wallet1000 is financial planning for the rest of us.