5 minute read
FINANCE
Enjoying the Ride: Freedom
BY SCOTT BROWN
SPONSORED ADVERTISING CONTENT
Celebrating the Fourth of July has always been special to me. It is not simply the day we celebrate our freedom from British rule and the creation of the U.S., it is also the day we celebrate how blessed we are and how much we have sacrificed to be the freest nation in the world! It’s a time to enjoy our great American traditions of backyard barbeques featuring baseball, hot dogs and apple pie.
Independence Day also celebrates the fact that we are raised to believe, and in fact taught in schools, that if we work hard enough, we can be whatever we want to be, such as an astronaut, the President, a pro-athlete, a successful entrepreneur—you name it or you dream it and it can be yours! That is such a powerful and encouraging reality for our young people to be raised in. It is why the U.S. is where people want to be.
While freedom is fantastic, I believe financial freedom is fleeting for many. Like any other worthy accomplishment in life, financial freedom comes with a lot of hard work and discipline.
I believe financial freedom generally means that you have enough money saved to maintain your lifestyle for the rest of your life, without being dependent on a monthly salary. You may choose to keep working, but you have the freedom not to if that suits you better. It is also much more than money; it is the freedom to be who you really are and do what you really want in life. So how do you get there?
Some things you could consider doing include studying or training for something you are passionate about that can afford you the ability to do the things you want and could allow you to have the family and lifestyle you desire. It always helps to set goals and to make reaching those goals a family effort. For younger people, live at home for a while if you can and rethink big wedding plans or lavish vacations. Of course, you should have a rainy day fund and a budget that includes both a savings and debt reduction plan.
On top of that, plan to allocate a portion of your future raises to increasing your savings and debt payments. Consider getting a side “gig,” maybe in a field you’re passionate about or that is one of your hobbies so that you can earn extra cash. Before you go shopping, consider shopping in your garage, shed, closet or basement and repurpose stuff you already own. As a senior financial advisor, I always believe you should simply start with a plan. As Henry Ford once said, “Before everything else, getting ready is the secret to success.”
I trust you all have a wonderful summer full of fun, family and yes, freedom! Whether you travel by horse, boat, bike or boots this summer, get out in the backcountry of this beautiful land we live in and enjoy the ride!
Scott L. Brown is the Co-Founder and Managing Principal of Shore to Summit Wealth Management. His investment planning career spans more than 25 years and he currently works and lives in Bozeman, MT with his wife and two sons.
Investment products and services are offered through Wells Fargo Advisors Financial Network, LLC (WFAFN), Member SIPC. Shore to Summit Wealth Management is a separate entity from WFAFN. Shore to Summit Wealth Management is located at 105 E. Oak Street, Unit 1A Bozeman, MT 59715 # 406-219-2900.
The opinions expressed in this report are those of the author(s) and are not necessarily those of Wells Fargo Advisors Financial Network or its affiliates. The material has been prepared or is distributed solely for information purposes and is not a solicitation or an offer to buy any security or instrument or to participate in any trading strategy.
Wells Fargo Advisors Financial Network and Shore to Summit Wealth Management are not legal or tax advisors. You should consult with your attorney, accountant and/or estate planner before taking any action.
The experience, accreditation, industry-wide recognition and integrity that Southwest Montana deserves.
#11 SCOTT BROWN
Scott and his team manage roughly $300,000,000 in private client assets. Scott Brown CFP®, CIMA®, CRPC® recognized as Barron’s Top 1000 Advisor’s in 2011, 2012, and 2013.*
*The rankings are based on data provided by thousands of advisors. Factors included in the rankings were assets under management, revenue produced for the firm, regulatory record and client retention.
Investment products and services are offered through Wells Fargo Advisors Financial Network, LLC (WFAFN), Member SIPC. Shore to Summit Wealth Management, LLC is a separate entity from (WFAFN).
Forbes Best-In-State Wealth Advisors Methodology 2020 The Forbes ranking of Best-In-State Wealth Advisors, developed by SHOOK Research, is based on an algorithm of qualitative criteria, mostly gained through telephone and in-person due diligence interviews, and quantitative data. Those advisors that are considered have a minimum of seven years experience, and the algorithm weights factors like revenue trends, assets under management, compliance records, industry experience and those that encompass best practices in their practices and approach to working with clients. Portfolio performance is not a criterion due to varying client objectives and lack of audited data. Neither Forbes or SHOOK receive a fee in exchange for rankings.
For more information and complete details on methodology, go to www.shookresearch.com
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- Comprehensive investment planning and wealth management - Personalized investment portfolios - Retirement income planning - Retirement and benefit plan approaches for small businesses - Private family office services - Balance sheet, cash flow and business valuation services
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