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Value Creation Blog

What Is Your Most Important Asset And Why Should You Care?

Posted by Josh Patrick

earning and savingOur firm is a financial planning firm.  I know this is an obvious statement.  All you have to do is look at our homepage and you’ll figure that one out pretty quickly.  The reason I stated the obvious is because I want you to think about your most important asset.

I think you need to answer this question:  “What is my most important asset?”  At first, you might find the answer not really obvious, but on further thought I bet you just smack yourself in the head and say, “Duh.”

Your most important asset…drum roll please….The ability to earn a living.  Your ability to earn a living and to improve the amount of money you earn will mean more for your financial success than almost anything else you do. 

If you own a business it’s about making your business more profitable. 

If your business makes more money you can afford to save more.  Saving more allows you the option of having significant assets outside your business.  This will make it easier for you to decide to leave your business when the right time comes.

If you upgrade your skills at work, you’ll make more money. 

This is a secret your boss won’t likely tell you.  Not because your boss doesn’t want you to get better.  It’s because your boss probably doesn’t really think about this.  Your boss is concerned with you doing a good job.  If you upgrade your skills, it would help you do your job better, but it also allows you leave for a better job.  It’s also not one of those things that bosses often think about.

Upgrading your skills allows the ability to save more. 

You might be seeing a pattern here.  More money equals more savings.  If you want to improve your options as you get older, having money in the bank will give you some.  If you’re paying any attention to what’s going on in Washington you probably don’t want to be at the mercy of what our politicians decide is good for us.  You need to take responsibility for your future. 

Making more money allows you to get past what you need to have.  You get to make a decision.  Do I want to save and delay gratification for the future or spend my bounty today?  Upgrading your skills allows you to make more money.  What you do with that money might influence your happiness as you get older.  As my father loves to say, “Money doesn’t go out of style.”

Understanding the value of your lifetime earnings stream is the start.

We believe our purpose at Stage 2 is to help make our clients lives better life.  We believe that choice is a big part of this.  A major choice that you have the ability to make is if you want to spend your personal time making yourself better.  If your answer is yes and you show high levels of personal discipline you can solve the financial part of this puzzle.

The real key here is your decision.  It’s all about you and whether you want to spend some personal time making you and or your business more valuable.  This means you might have to take a night course, read some books, watch videos, or listen to tapes that help you upgrade your skills.  You’ll likely feel better about yourself and develop more options along the way. 

I don’t know about you, but that sounds like a pretty good deal to me.

If you want to start learning with information on our website, I encourage you to click on the button below and wander around our resource center for a while.  We have lots and lots of information that might help you think about your options in a different way.  To visit our resource center, click on the button below.

Securities and Investment Advisory Services offered through NFP Securities, Inc. (NFPSI), Member FINRA/SIPC. Stage 2 Planning Partners and NFPSI are not affiliated.

This article is published for residents of the United States only.  Registered Representatives and Investment Adviser Representatives of NFP Securities, Inc. may only conduct business with residents of the states and jurisdictions in which they are properly registered.  Therefore, a response to a request for information may be delayed.  Not all of the products and services referenced on this site are available in every state and through every representative or advisor listed.

Topics: asset management, value creation, financial planning

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