Are you living a rich life with no regrets?
And by “rich,” I’m not just talking about the money. A truly rich life is one that’s overflowing with meaningful experiences with your loved ones, plus the ability to give, spend, and save without worry. Too many financial planners focus solely on building your wealth and leave out the other half of the equation – enjoying your life while you do it!
Author and Certified Financial Planner, James Lenhoff, has seen this bad movie play out more than a few times. Clients in their 80’s with multi-million dollar fortunes who never enjoyed their wealth and were too busy working to forge strong relationships with their families. They accumulated too many regrets along with their millions and now they are too frail to do all of things on their “bucket list.”
That’s why James wrote Living a Rich Life: The No-Regrets Guide to Building and Spending Wealth. His mission is to help people live rich lives, to show them how to accumulate wealth without accumulating regret. I’ve read close to a hundred books about money, wealth, and investing, and this one definitely makes my Top 10 List. Why? It’s insightful, full of heartfelt stories, and easy to read. (Not what you’d expect from a CFP, right?)
Keys to Living a Rich Life with No Regrets:
- Don’t make major financial decisions out of fear and worry.
- Don’t chase money at the expense of relationships.
- Make generosity a part of your lifestyle, rather than an afterthought.
- Create and protect your financial margin so emergencies don’t become money catastrophes.
- Enjoy and spend your wealth, don’t just hoard it. (Really!)
- Prepare and protect yourself from the worst-case scenarios with proper estate planning and insurance.
- Don’t make every financial decision about the numbers. (Yes, sometimes you do need to follow your heart.)
- Allow your children to make their own financial mistakes – and learn from them – while they’re young and the amounts are small.
- Find a trusted advisor who will guide you build wealth without regret so you can live a rich life right now and into the future.
For each of these areas, James Lenhoff explains how to recognize if this is a problem for you and gives very concrete action items to rectify the issues.
If you are looking for a healthy, well-balanced philosophy of managing your money without being controlled by it, put Living a Rich Life: The No-Regrets Guide to Building and Spending Wealth on the top of your reading list. I plan on gifting it to all of my clients who graduate from one of my financial coaching programs to provide a road map for their continued success into the future.
James Lenhoff is a Certified Financial Planner (CFP® )and the President of Wealthquest Corporation, located in Cincinnati, Ohio. Married and the father of three, James spends much of his free time on service projects through his church, including financial literacy education programs, and mission work in Haiti.
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