Recently I was talking with a mental health professional, and she shared with me that she’s encountered numerous business leaders whose personal lives are falling apart but they keep it together at work, at first. Over time their personal lives catch up with them and create ruinous business situations.

The fact is that financial troubles are one of the core drivers of personal and professional challenges, and many of those issues are preventable. As a business leader you want to show up as your best self in all facets of your life. One area that can sap your energy and enthusiasm is fretting about your personal financial affairs. If you’re feeling overwhelmed by your financial situation, know that you’re not alone. A recent report showed that two-thirds of Americans are experiencing some level of financial anxiety, and 58% of them have not yet looked for professional support from a financial planner.

The bigger problem is that financial anxiety doesn’t only affect our bank account, it can also have a negative impact on different aspects of our life -including our personal relationships and the way we lead at work – and it usually leads to poor decisions and low productivity.

If you are an entrepreneur, you lead a business, or manage a team, read on. In this blog post, I’ll discuss why working with holistic financial planner makes a difference when navigating rough waters not only as an individual but also as the boss of everything that matters to you.

Proper Financial Planning Helps Reduce Risk

Imagine building your own business from the ground up. You’ve put everything into getting this business going (time, financial resources, heart, and energy), and after a few years, the business is running, growing, and making good money. Everything is peachy. But you’re “too busy” and have not prioritized how to properly manage your balance sheet, your budget, or your cash flow in your business. Or maybe you got so hyped on your business wins that you didn’t pay too much attention to how the business is structured or how that structure impacts you legally or financially. You have not built proper business continuity and succession plans because, hey, you’re young, healthy, and thriving, what could possibly go wrong? Then you die unexpectedly, and no one has a clue on what to do next. WHOA…Didn’t see that coming did you?

That is when having a strong financial foundation comes in. Having things such as life insurance, estate planning, and a succession plan in place are not luxuries or nice-to-have’s, these are ways to take care of you, your business, and the people you leave behind. They are imperative.

Now, death is the worst-case-scenario, but financial planning also includes making sure you’re prepared for unexpected events. For example, what would happen if your company went out of business? Or the company you worked tirelessly to build runs out of funding, and they must let you go? These are both very real possibilities, and they can have a devastating effect on your finances. However, if early on you craft a financial strategy that takes into account these events – such as having an emergency fund, disability and/or life insurance, and a strong financial foundation in place – you will be able to protect yourself and your family from financial hardship. And I can assure you something: that kind of security has no price tag.

When it comes to financial planning, it’s important to keep in mind that your business and personal finances are more tied together than you think. After all, your business – or your income as a business leader- is likely one of your biggest assets. If you’re going through major life changes, such as starting a family, getting divorced, or investing in new business ventures, that will most likely have an impact on the decisions you take at work. Personal events also require careful understanding and planning, making it more crucial than ever to take a comprehensive approach to your finances, looking at both your personal and business goals.

I know, it can be tough to know where to start when it comes to planning your finances, especially if you’re s already struggling with financial security and anxiety. But that’s when an expert financial planner such as myself comes in.

Here’s how counting on professional support can help you reduce stress, protect your overall financial wellbeing, and build a solid foundation that will allow you to take better decisions for both your short- and long-term success:

  • Prepare for and anticipate challenges

    First and foremost, you need financial clarity. When you’re in the middle of a professional or business crisis, it can be difficult to see the situation clearly and make reckless decisions. Considering that our personal and business lives are often closely intertwined, you may end up being tempted to take rushed decisions like fudging the numbers to make things look better than they are. But that could lead to drastic consequences, a ruined reputation, and a failed business.

    On the other hand, if you have a clear and concise financial plan, it will give you the confidence to make informed decisions, take the appropriate risks, and grow your business strong. Working with a financial planner can help you take that step back and assess your options from a neutral standpoint and receive an unbiased perspective. As example, I was working with a client and discovered that the line between their personal and business expenses were virtually nonexistent. Comingling accounts and assets could have a devastating impact if the business ran into legal trouble. After talking with a tax professional and business attorney, they realized how that arrangement could jeopardize their financial lives and made the necessary changes.
  • Aiming at long-term results

    Hear me out. Whether you’re looking to retire comfortably, send your kids to college, or just have a rainy-day fund, you must develop a long-term plan. It’s important to have a clear understanding of your financial goals and how you’re going to achieve them, as well as a roadmap for your future to keep you on track.

    Why? Because of those unexpected events we talked about earlier, like a business failing. You need to have an exit strategy in place and be financially prepared for that to happen. We must avoid the overconfidence that comes with thinking that because you’re a leader your skills drive your performance and therefore your results (and your luck!). So yes, you do need investment guidance.

    Also, as an experienced financial advisor, I’ve come to understand that short-term thinking can cloud the long-term results. That’s why I focus on considering all aspects of your financial life, from savings and investment to insurance and taxes, and help you navigate life events like marriage, parenthood, and retirement, among other things. That’s the power I give my clients – allowing them to make the most of their money and achieve their long-term financial goals.
  • Remaining disciplined

    If you’re dealing with financial insecurities, the heat of the moment can easily make you take impulsive decisions that can end up costing you in the long run. We all deal with it differently. Maybe you’ll want to cash out everything or put all your money in an individual stock or that trending investment technique you heard about. However, time has proved that taking small consistent steps, staying focused on your goals, and making sound decisions will pay off down the road.

    Whether you’re facing a financial windfall or dealing with a financial crisis, a good financial planner will take the time to understand your unique circumstances and help you develop a plan that meets your needs and protects your long-term ability to stay on track with your finances.
  • To find peace of mind

    When you’re dealing with financial stress, it can be hard to think about anything else. If you are looking to take control of your finances, whether because you want to save for retirement, invest in a new home or business, or fund your child’s education, having a financial planner in your corner can help you feel confident and secure in your decisions, knowing that you have someone looking out for your best interests.

A Concluding Thought: Mindful Wealth Management is Key

Business leaders have a lot on their plates. In addition to managing their businesses, they also worry about their personal and family finances. This can be a lot for anyone to handle, but I’m here to tell you that you don’t have to do it alone.

My recommendation is not to plan because of who you are right now. Instead, plan because of who you wish to become.

Personally, I put my finances in order and make a living out of helping others do the same thing because living in that constant state of worry and uncertainty was not made for me. I’m an adventurer at heart and my priority is to lead the active lifestyle that is only achievable through financial freedom.

My family and I value adventure – mountain biking, trail running, skiing, camping, and spending as much quality time together. We can make all that possible because with consistency and effort, I have found the beauty in the mundane and created my vision of financial success.

Picture how it would feel to take the weight of your finances off your shoulders and achieve the life you’ve always wanted. You have what it takes to go for it.

As a Certified Financial Planner, I’m here to support you and to provide an unbiased perspective, help you develop a long-term plan, keep you disciplined, and ultimately, provide you some well-deserved peace of mind so you can lead a more productive and successful life.


Advisory services are offered through CS Planning, Corp., an SEC registered investment adviser
This Content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained on our Site constitutes a solicitation, recommendation, endorsement, or offer by Four Points Wealth Management or any third-party service provider to buy or sell any securities or other financial instruments in this or in any other jurisdiction in which such solicitation or offer would be unlawful under the securities laws of such jurisdiction.

All Content on this site is information of a general nature and does not address the circumstances of any particular individual or entity. Nothing in the Site constitutes professional and/or financial advice, nor does any information on the Site constitute a comprehensive or complete statement of the matters discussed or the law relating thereto. You alone assume the sole responsibility of evaluating the merits and risks associated with the use of any information or other Content on the Site before making any decisions based on such information or other Content. In exchange for using the Site, you agree not to hold Four Points Wealth Management, its affiliates, or any third-party service provider liable for any possible claim for damages arising from any decision you make based on information or other Content made available to you through the Site.