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New Year … New You!

Updated: Dec 30, 2018

How life/financial coaches and financial planners can help you reach your goals!

We are about to ring in 2019! When you’re thinking of your resolutions, what ideas/plans do you have for yourself? For most of us, we’re considering how to move closer toward our financial goals, how to bolster our careers, and how to grow into our ideal selves. While these are pretty vague goals, you probably have a very specific idea in your mind of what these goals look like for you.

But, how do I get started?

Maybe your first, and very rational, thought is to get educated on the topic. While we at Hui Malama Advisors will always encourage and provide financial education, education alone is not enough. In fact, research shows there is only a small relationship between being financially literate and making financially sound decisions later on. One meta-analysis (a study that examines several previous studies of the same topic) found there was less than .1% relationship between financial literacy and later financial knowledge/decisions. This means that even if you know exactly what you’re supposed to do about your finances, making a financially sound decision can be tough. The fact is that this stuff doesn’t come easy to most of us and there are so many intricacies to it! For example, you might know what kind of IRA (individual retirement account) to invest in, but do you know how to optimize your taxes or how to adjust your financial goals and decisions to your growing family and changing life? Having someone in your corner who can help you navigate these decisions is so important!

Hiring a life/financial coach and/or a financial planner means you get specific services tailored to you and your goals. We factor in your learning style, your values, and your specific situation when making recommendations and while engaged in the coaching process.

Why did I make these specific goals/resolutions?

Our mission as life and financial coaches is to help you better identify your core values and move closer to your most authentic self. Sometimes we set goals that we think will make us look successful but aren’t truly what we desire. The life/financial coaching process helps you identify your current mindset related to your goals, how you came to have this mindset, your personal relationship with money, personal barriers related to achieving these goals, and the purpose these goals serve in your life.

But wait! I’m still unsure about my specific goals, but I want to see changes in my life and financial situation this year!

That’s okay! The great thing about our life and financial coaches, as well as our financial planner, is we work well with ambiguity. Through exploring your values and life history, we can and will work with you to figure out that next step!

Wait! I can do it all myself! Plus, I’m too busy to add another thing to my schedule.

We are pretty sure that most of us can accomplish whatever we put our minds to! But, we can’t all be experts in all areas of life. Not only can working with a coach help to identify your blind spots, outsourcing your financial planning opens more time for you to focus on your specific goals!

We are all busy, but one to two hours per week or per month is feasible for most of us. Ask yourself, what am I busy doing? Am I busy working in line with my values and passion? Am I busy creating a legacy of wellness and financial stability for myself and my family? Minorities have consistently been disadvantaged in terms of both mental and financial well-being. Shift the narrative and start your legacy today! If not now, when? If not you, who?

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