Listen "Money, Know Where You Are to Plan for the Future"
Episode Synopsis
Russ Thornton knows what women want--and need--when it comes to money and planning for the future. He's unique in the world of financial planners in that he specializes in women over 50. This makes him the perfect guest for this audience.His passion for working with women started with his mom. Although she could have retired more than comfortably, she didn't plan well, didn't have any sound financial advice, and didn't take stock of her lifestyle in relation to her income and savings. Plus, he's a holistic thinker and "found that my approach to money and advice resonates better with women than it does a lot of men."I got to ask many questions I've wanted to ask about money and living longer. How much is enough? When to start social security? Will a financial planner work with someone who isn't wealthy?Is it true you need one million dollars or more in order to live well til the end? (His answer is both a relief and a ruh roh)We talked about the emotional side of money and how that can lead to poor choices.And how building wealth and improving health share habits. One of his suggestions would be hard to apply to health though--automation. Much as I'd like my Peloton to ride on my behalf...Many women, myself included, did not work in corporate, for a union, the government, or other institution that provided pensions and or 401Ks. Where does that leave us when it comes to planning for an unknown number of years ahead?Take stock of where you are. Exactly where I start when coaching someone who wants to improve their health or reverse some scary numbers. We assess where the person is right now. Sometimes it takes courage to tell the ugly truth but it's the only way to know what's a keeper and what's got to go habits-wise.If I can give your listeners one piece of advice, it would be to take an inventory of where you are today regardless of your age, regardless of your financial, position or station."I got Russ's take on paying debt vs saving. A couple of podcasts he likes: I will teach you to be rich from Ramit Sethi.Stacking Benjamins Russ's website is WealthCareforWomenAs always if you liked an episode, please leave a review. And if you're thinking of making a life or lifestyle support and are considering getting help, let's hop on a call.
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