Financial Wellness and What Your Financial Advisor Isn’t Telling You

In this podcast, Manisha Thakor explores what it means to achieve financial wellness, and why more and more companies are offering programs to obtain it as an employee benefit.

In order to fully achieve financial wellness, you need to have three pieces in place:

  1. Financial stress should be minimal, or at a manageable level, so it’s not affecting you physically or emotionally.
  2. A strong financial foundation is in place — including having an appropriate emergency savings fund and the proper insurance — so if something bad were to happen, you’d be OK.
  3. You are on track to achieve your financial goals at the time frame that you’ve set to achieve them.

“If you can meet those criteria, you are financially well,” says Liz Davidson, CEO of Financial Finesse. “You might not be financially secure, but you have the structure and habits and behaviors in place to ultimately become financially secure and independent.”

How can you make big changes to your financial wellness? Think small wins.

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The opinions expressed by featured authors are their own and may not accurately reflect those of Beacon Hill Private Wealth LLC or the BAM Alliance. This article is for general information only and is not intended to serve as specific financial, accounting or tax advice.

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