Weekend Reading: The Dimensions of Wealth: Influencing Your Financial Path

This article appears as part of Casey Weade's Weekend Reading for Retirees series. Every Friday, Casey highlights four hand-picked articles on trending retirement topics and delivers them straight to your email inbox. Get on the list here.
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Weekend Reading

The unique qualities and characteristics you possess are what make you, you. They trickle down into every aspect of your life, and that should include your retirement plan too. Read the article from Kiplinger below.


Analyze all angles: When you put your lifelong savings to work, you need customized financial strategies that take into consideration all the various facets of who you are. What might those include? This article outlines the dimensions of wealth that help pave and influence your financial path. They include:

📍Personal dimensions – Your age, marital status, level of education, hobbies, values, long-term goals, etc

📍Wealth dimensions – Income, saving, spending, investing, debt and taxes; all are intertwined, and all require your attention

📍Family dimensions – The size of your family, ages of your children, and any age difference between you and your spouse should play not only into your retirement plan but your estate plan as well

📍Money experience dimensions – Your relationship with money in the past helps shape your financial choices going forward, so to better understand yourself from a behavioral finance perspective, ask yourself questions such as: Do you have the knowledge to assess how risky investment might be? Or, have you had past experiences with planning and investing that may impact your current decisions?

Modern money management: Thanks to technology, investing has transitioned from a valuable service to a commodity. This trend will only continue into the future, which makes true financial planning an even more valuable service. Our industry is changing rapidly. I’m happy to say, we’re ahead of the curve.