At BeWellMySoul.com, we are interested in exploring all aspects of wellness, including financial health. Please join me in welcoming guest blogger and Christian financial associate, Jason Jupiterwala of Thrivent Financial.
Many people want to know the secret to financial success. Whether they should be saving more, protecting more, investing more, spending less… everyone wants a magic bullet to set them on the road to financial success. The hard part is-I can’t give that to them.
At Thrivent Financial, we believe the key is to have discussions with your family and loved ones about what priorities are most important to you. Our members come to us around a shared goal of being wise with money and living generously and we aim to help them live this every day in their lives. Whether it’s saving for a child’s college, supporting a favorite charity, building retirement strategies or a combination of all of those and more. Each financial strategy should be driven by one person. You.
With our members in the driver’s seat we offer guidance based on sound and timeless principles.
Spend less than you earn.
This is critical. No one can live beyond their means forever and all bills- credit card, mortgage, home equity loans and others- eventually come due. Being wise with money means having the ability to be prudent with the resources you already earn.
Be wise with debt.
Debt isn’t something to be avoided at all costs. Some debt can be very healthy and a way to broaden and strengthen your future- both inside and outside your financial picture. Mortgages, student loans and car loans can all be entered into and can be a part of a healthy financial strategy- they just need to be managed carefully and effectively.
Protect against setbacks.
Even the best of financial strategies can be derailed by a sudden accident or death if not properly protected. Life insurance, disability insurance, long-term care insurance can all work as protection against the worst, should it happen, and help ensure that you and your family are taken care of and you’re not leaving others with bills or burdens that can be protected against.
Have a short term- and long term- plan.
College, retirement, emergency savings, a new car… all of these are great goals for families and individuals to set for themselves. The key to reaching these goals is to do so in a way that maximizes current resources and helps minimize risk for an overall strategy. So when it comes to transitioning to drawing down money in retirement, the most important structure is to plan for the short term for the near-term and ensure that it’s working in conjunction with your long-term strategy for you and your family.
Nothing lasts forever. At Thrivent Financial we work with our members to ensure that generosity is instilled throughout a life-long financial strategy, not just when someone accumulates “enough” to give. We want to support our members’ efforts to impact their families and communities through programs and opportunities to live generously.
Many people are looking for a silver bullet when it comes to finances. The most important part is to be true to yourself, your family and your goals. These five pillars can guide you, however, it’s ultimately up to you and what you want for your future.
About Thrivent Financial
Thrivent Financial is a financial services organization that helps Christians be wise with money and live generously. As a membership organization, it offers its nearly 2.4 million member-owners a broad range of products, services and guidance from financial representatives nationwide. For more than a century it has helped members make wise money choices that reflect their values while providing them opportunities to demonstrate their generosity where they live, work and worship. For more information, visit Thrivent.com. You can also find us on Facebook and Twitter.
You can reach Jason at 972-521-0011.