Rate Your Financial Wellbeing: Part Two

Rick KahlerAdvisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives.

Continuing last week’s exploration of characteristics that define financial wellbeing, this week we’ll look at eight positive Cs and their negative counterparts. Again, I suggest considering where you see yourself along the spectrum between each pair.

1. Calm/Turbulence. Calm allows you to navigate the ebbs and flows of monetary concerns without being overwhelmed by anxiety. It often comes with knowing you have enough to comfortably cover your basic needs, and calm can also serve you well during times of financial uncertainty. Turbulence is an internal financial system filled with constant anxiety and perpetual stress, regardless of the external realities of your net worth or financial security.

2. Clarity/Ambiguity. Clarity includes knowing your future needs – including an awareness that life and financial blows can be uncertain – and acting with foresight to build financial and emotional resources to help you meet those needs. Ambiguity is a lack of awareness of present and future financial realities, a sense of uncertainty that leaves you navigating financial events with no clear direction or destination.