When I think of being physically fit two images come to mind: the high strength / high impact weightlifter and the slow moving / high endurance yogi master. Both are well known pathways to staying physically fit and to someone like me these two types of body movement couldn’t be further apart…. the common denominator being literally the physical body movement itself. People tend to pick one style of exercise, (I don’t remember the last time I say a yogi do a dead lift) but I do know enough about the human body to understand that a combination of both would usually be the best outcome. Kind of like when an NFL defensive end takes a Ballet class. The pairing of the two can be the best outcome for physical health.
This is how I think of personal finance: the two extremes of activity combined can help provide a financially fit life. If the high impact Zumba class is like investing in the stock markets, the calm Tai Chi class is like having a fully funded emergency fund. Both can be equally important to your financial health but so extreme that often investors focus on one but not the other.
It’s okay to have both an active trading account and a passive retirement investing account. It’s okay to have both life insurance in case you die too early and long-term care insurance in case you live too long. It’s okay to take high risks in the volatile crypto currency markets while having money parked in an online money market account earning lint.
The world of personal finance has many different tools and strategies to help keep your financially fit, and like keeping your body physically fit I recommend knowing your limits & developing a program that works for you. And hopefully a combination of the various tools will give you a healthy, flexible, and long-lasting financial vehicle to allow you to live your best physical life.
Kimberly Enders CFP® CWS® CERTIFIED FINANCIAL PLANNER™
Enders Wealth Management
37800 Van Dyke Ave, Suite 125
Sterling Heights MI 48312
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