I have spent my entire career in the financial services industry. Along the way, I have interacted with many financial advisors and clients. One thing I have learned is that our industry tends to make financial products and concepts too complicated. Often times, this leads to a lack of direction and poor decisions made by savers and investors.
So in an effort to follow Albert Einstein’s advice, “Make everything as simple as possible, but not simpler,” let’s discuss language and the impact the words we use might impact our financial futures.
But before we get to the serious stuff, here’s a dog pic:
This is Honey, our three year old English bulldog. We adopted her as the world was shutting down in March 2020. She influenced our daughter, Eva, to go to the University of Georgia. She was the runt of the litter, so is small in stature but has a huge personality and is very smart! Honey does not care about the stock market but loves to bark at any type of animal or alien that appears on the screen!
Now back to our topic.
I want to share a quote with you from Desmond Tutu:
“Language is very powerful. Language does not just describe reality. Language creates the reality it describes.”
It got me thinking about how language guides our focus and impacts our reality.
Some examples related to financial decisions:
“I’ll never get out of debt.”
“My parents (or children) are a burden.”
“I guess I’ll work until I’m 100.”
Speaking these things out loud (and believing them) can lead you to act in ways that confirm your statements.
But there’s power in reframing what we say to ourselves and others.
“I plan to be debt-free in 2 years.”
“It’s a privilege to be there for my parents.”
“I’m going to figure out what I need to have in place to retire by 2028.”
So, my challenge to you is to pay attention to the language you use when talking about retirement, finances, or other goals related to the life you want to live.
Think about how your words might be shaping your financial reality, and consider whether there are any negative or limiting beliefs you could adjust in a more proactive and positive light.
Remember, by changing the language we use, we can change the reality we create.
If you need a little motivation, I’m here to help in defining and pursuing goals that work for you and your family.
In closing, here’s a dad joke:
My uncle has two Dobermans named Timex and Rolex.
They are watch dogs
Warmly,
Arthur Creel, Investment Advisor
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