Leaving the security of a manager position in the corporate world with a six-figure salary and 10 weeks of paid time off for my new career as a New York Life agent with commissions only compensation was both daunting and exciting. I was following my dream for autonomy and control so that I could help others. It was a challenge that I embraced knowing that I had my family’s support. Any new business takes about five years to become established. We had our work cut out for us!
It was very soon after that I discovered that I was pregnant with my fifth child. Waiting to complete our family was not an option since I was in my forties. Growing a new business and having a baby at the same time sharpened my focus on what is most important – people. I often say that I take care of my family and my clients.
Both my growing family and business have rewarded me many times over these last 19 years. As my youngest soon enters college, my business is preparing for another expansion as we merge our practice with another established firm. In the New Year, we will announce our new business name as we finalize our merger with Tony Fulkerson, CFP® of Fulkerson Financial Group. Please note our new location in Herndon at 625 Elden Street, Suite 203. More to come soon!
In the meantime, we will continue to focus on our clients and their most important financial goals. Our purpose is to help People; our intention is to provide ongoing guidance and support to help them realize their dreams. One important part of that is to become A S.M.A.R.T. spender. Set S.M.A.R.T. financial goals (Specific, Measurable, Achievable, Realistic and Time bound) and create a spending plan in 4 steps:
1. List your income
2. Compare your income and expenses
3. List your expenses
4. List your resources and set priorities
Next, develop a savvy investment strategy: Finding the right mix of investments depends on your available assets, your financial goals, your time horizon, and your tolerance for risk. It is important to ensure a balance between three things: liquidity, return, and risk. Start systematically investing as soon as you are able so that a reasonable amount is saved, even after just a few years. The compounding effect can help to speed up your savings.
Remember, you are your most important asset: For most people, human capital is the missing piece of their portfolio. You insure your car, in the event you get into an accident. You insure your belongings, in case they’re lost or stolen. Your biggest asset is your ability to get up every day and provide for your family, whether by working or being the primary care giver. How do you insure your biggest asset?
Interested in learning more? We are here to help you get started.
Valerie P. Kaiser, CFP®
625 Elden Street. Suite 203 Herndon, VA 20170