The most valuable asset
Beyond the 401(k) plan, investment portfolio and family home, the most valuable and often under-optimized asset may be your personal gift. This is the intersection between your true passion and talent. It's the ability that few others have. It's the thing you can do for hours and feel like you will never tire of it. And when you find a career that fully exposes and leverages this personal gift, you may experience four results.
First, you love your job! You are no longer working for the weekends and you are enthusiastic about heading to work each day. Second, you are happier and thus are nicer to your family and friends. Third, you are less stressed because you are doing something that fulfills you that makes you physically and emotionally healthier. And fourth, you might be surprised to find you can make more money working in joy versus what you are currently earning working for the weekend.
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The practice of inspired wealth management requires that your advisor has a focused presence, keen listening skills and a rooted connection to you. This is about setting aside the charts and having meaningful conversations with you in order to tap into your deeper needs and aspirations. If you have already experienced this, you will know it. If you haven't, and you feel you may be missing out on your highest self and ideal life, then you owe it to yourself to see if your current advisor can assume this role or consider a new advisor.
By the way, if your advisor is able to serve this role, he or she will experience greater career satisfaction knowing they are making a significant difference in your life, beyond just an investment return.
It's time your advisor helped you focus on personal growth in addition to asset growth. It's time people take action to add more meaning and joy to their lives by utilizing their unique personal gifts, by fostering deeper connections with family and by giving back to causes close to their heart. Financial planning is the ideal catalyst for a more inspired life. It's time that our country's inner wealth matched its outer wealth.
—By Seth Street, President of Mission Wealth, Member of the CNBC-YPO Chief Executive Network
CNBC and YPO (Young Presidents' Organization) have an exclusive editorial partnership. It consists of regional Chief Executive Networks in the Americas, EMEA and Asia-Pacific. These Chief Executive Networks are made up of a sample of YPO's unrivaled global network of 20,000 top executives from 120 countries who are on the front lines of the economy. The opinions of Chief Executive Network members are solely their own and do not reflect the opinions of YPO as a whole or CNBC.