Most people feel like they are behind when it comes to their finances. They look around and see other peoples’ houses, cars, clothes, etc. and think “wow, they must be so far ahead of us.”
I get it, it’s not a good feeling many of us have. I used to think only people who were actually behind, feel behind. But now, after working with many high net worth people, I realize most actually do feel behind because they only compare themselves to others who are ahead.
The wealth class does not even matter.
But here’s what I will say…this is a totally normal feeling. After working with numerous high net worth people, I realize most actually do feel behind because they run in circles with other highly successful people. And while they may be far ahead of some, they are still behind others and those people are who they focus on.
Another reason people they feel this way is because they don’t feel like they are making much progress financially. Most people are wired to traack progress by the balance of their cash savings. So if that is not happening (which it really should not be if you are investing and paying down debt) then they dont feel like they are making progress. But… the value of your checking account is not wealth. The value of your investments, net worth, debt, etc. is.
So I am going to challenge you this month to go back and look at the numbers. See what progress you have made. Here is exactly what you should do:
The hardest part of your personal finances is continuing to do the right things for a very long time. You need regular check-ins to see the progress you are making!
Financial Advisor