The secular prophet The Notorious B.I.G. once noted that the more money you have, the more problems you may also have. It’s not an untrue statement. Often, during complex planning meetings where clients and I are discussing the finer points of managing wealth, someone will end the conversation by saying we are dealing with “first-world problems.” While there are certainly things that come with managing money once it is already accumulated, that's not the real inconvenience of wealth I want to discuss here. The real inconvenience is in the accumulation itself, which begs the question, why inconvenience yourself with saving and investing money?
What got me thinking about this is America’s 250th birthday. That looming holiday, along with Europeans visiting America for the World Cup, has reminded me of America's uniqueness. We have gas stations with mascots, stores with horizons, and a near-unlimited supply of ranch dressing. By any financial standard, America is an unbelievably blessed and wealthy country. That is directly the result of the sacrifices of those who came before us. I mean the men who got in small boats and rowed across the Delaware River on Christmas, the people who risked everything to settle the frontier, and the founders who wrote their names on a piece of paper that would have resulted in their deaths if America had not secured victory and independence from England. The freedoms and wealth that we have today are a result of people choosing to be inconvenienced for a greater purpose. The path of purpose and meaning is rarely the path of convenience.
As investors, savers, and regular old working Americans, it is much more convenient not to save money. It is so much easier to not budget and spend all that money each month. It’s so much easier to relax on the couch than to read the awesome content from Greenwing Wealth Management on how to maximize your match in a 401(k). It’s also way more convenient to just open a brokerage account on your cell phone than to schedule an appointment with a financial advisor who will take the time to explain things that lead to empowerment and financial ownership.
The question all of us have to answer is “Do you want to be great?” Not great in the Alexander the Great sense, but great in the sense that you did the absolute best you could with the cards you had. The great thing is that whether you win, lose, or draw, you can walk off that field with your head held high, knowing that you are and always will be enough. While you can’t control the outcome, you absolutely can control the process and effort.
The thing about the greats, people like Washington, Lincoln, Roosevelt, and countless others, is that they did not start from the top. Perhaps along the way they had help, but they all also took their life in their hands in many cases. Washington and Roosevelt both served in extraordinarily inconvenient ways, including on the front lines of combat, even to the point where Teddy Roosevelt earned the Congressional Medal of Honor for his actions. People who live their lives for a purpose that transcends the basic needs of today make habits of doing things that are inconvenient. Their willingness to be inconvenienced for the right reasons often lays the foundation for them to build great things in their lifetime and leaves a legacy for others to build on.
This month, Greenwing Wealth Management turns five. It was not convenient to leave corporate America. It was unpleasant even. Many hard conversations had to happen on both sides of that move. I can firmly tell you that it is easily one of the best decisions of my life. This month, we will launch a new concept called the Financial Foundations Academy. While it's not convenient to offer complimentary financial education, it is a moral imperative for those who can share that knowledge with others. Our hope is that this inconvenience leads to big changes in our industry. Changes that start with questions like “Why don't these big firms offer real financial education?” These firms that won’t let you schedule an appointment unless you have a million dollars? I guess they can’t be inconvenienced by helping provide education that empowers generations to make the most of their resources.
My question to you is: are you willing to be inconvenienced in pursuit of something bigger? It’s inconvenient to set a meeting with a financial advisor. It’s inconvenient to consider whether your current investment strategy or advisor is actually in your best interest. It's inconvenient to move your money if you decide they are not the best fit. If you don’t mind a little bit of inconvenience, I think you will like what we have to offer here at Greenwing Wealth Management.