Mike and Jess bring in over five hundred thousand dollars a year and have no financial system to speak of. The story starts with something small, a water heater that breaks and has to be replaced, and the way a simple surprise expense can throw a high income household into scramble mode. When the money comes in fast but nothing is organized, a two thousand dollar problem causes stress it has no business causing.
The lesson is that income is not the same as a foundation. Plenty of people earning great money have no reserve, no plan for where each dollar goes, and no idea whether they are on track, because the paycheck has always been big enough to paper over the gaps. That works right up until it does not.
A financial foundation is the boring structure underneath everything else. A cash reserve, so surprises are annoyances instead of emergencies. A clear picture of where the money goes. Goals the dollars are actually aimed at. It is not glamorous, and it is the thing that turns a big income into real security. This video walks through what that foundation looks like and what it costs you to skip it.
Hosted byNick GeorgeCFP®, ChFC®, CLU®, IWA™FounderView bio →
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