Living from my metaphysical viewpoint is sometimes problematic when the total world is changing in a rapid way, and in a way that is somehow out of our individual control. I am ready for the current transformation within myself; I have prepared for years for this calm and peace of mind. But I am not sure that any of us know what the transformation on the world level will become. I tend to return to the textbook ways of thinking of my past: how government should or could be and how financial services and our financial world is thought to be by the traditional thinkers.
In a recent article by Robert Rodriguez, a former portfolio manager of note and a former asset manager, he shared his “Preliminary Thoughts — The New World Order.”
I would like to share his summary paragraph here: “…I have to shed a tear for the passing of a capital market that has benefitted the real and financial economy so well for decades. In 2008, when I wrote, “Crossing the Rubicon”, I argued we had crossed over into a new economic order and system, Little did I know that within twelve short years this transformation would be virtually complete. We have entered into a far more dangerous environment where normal rules of analytics will likely not apply. When everything is essentially socialized as to risk, a return vs risk evaluation is essentially meaningless since the risk side of the equation has been truncated. Over a period of time which I cannot estimate yet, I will continue my preparation for a far different economic and financial environment. Capital deployment strategies will likely have to change from what has been the norm in the post WW2 environment. We are in a New World Order. I hope I am wrong in my assessment, but I doubt it.”
The governmental world was shaken through the political occurrences since 2016, and the outlook for that world is also A New World Order. The 2020 Presidential Election, along with all other elections have also entered A New World Order.
Our working world with most of us working remotely, and alone at home, is also entering A New World Order.
So where does this transformation take us on the Journey to Financial Freedom? Decisions for all parts of our lives have always been affected by finances, or more simply money. With the total world changing, I think my time to EMPOWER SHARE CONNECT will be worth sharing and tested each step of the way in this NEW WORLD ORDER.
It might help to know that the pressures individual employees feel with their finances could be helped by the actions their employers could take. And I am not just talking salaries!
For all of those who go to a job every day, the worries individuals are facing with finances is spilling into the workplace. It is probably true that employers are the biggest loser in this situation. It is reported that losses of up to $250 billion annually are experienced because of people stressing over their personal money issues. That is according to Mercer a benefit provider. Finally organizations are paying attention to financial wellness. The real “financial wellness”. Companies are responding to the growing demand for a solution. But not all are responding with appropriate programs. “Well being” needs to be addressed. Programs being offered in this area are also a way to attract and retain talent. But “financial wellness” programs are not well defined, and few major benefit providers have begun to offer a comprehensive benefit program including financial wellness.
People need to learn financial courage so that they can know what options are available for their particular situation and how to apply decision making skills in this highly personal and stressful situation. More importantly, individuals need to learn the link between health and financial wellness; they are not separate. When money is a stressor, it is very high on the “stress” list. Its effects are no different than well accepted stressors that are purely health-related. It will soon become more apparent that the old way of doing things in the benefit selection process may not be relevant too far into the future.
Dealing with your personal finances can be painful just like a trip to the dentist. The fear keeps you from beginning even though you know you need to go to maintain health. It is just like this with money. You know you need to really learn about your money: how much you have, how much you don’t have, what you need, what you want!
No one needs to tell me in any study that is being done that money is stressful for every gender, every age, and every income level. It is stressful; there is pressure. And no one leaves that stress and pressure at home when they go to work, no matter what they do for work.
What is needed is courage. The financial wellness programs that the banks offer you do not include courage, but they do include savings accounts, checking accounts, credit cards. Their brand of financial wellness is product! More and more product! Yes, employers are beginning to look at financial wellness programs, and they usually choose what is the cheapest alternative to offer to their employer: the banks do not charge because the banks want to sell more products. Employers have been known to recognize that financial wellness is a top growing demand with employees but in choosing it is the last benefit picked for the employees. It is not well defined, except in the case of banks, and that is a problem for employers; consequently, it is a problem for employees.
Financial courage must be taught first, and that includes financial decision making. Banks do not help people feel confident, and that is a major goal of all programs I offer through Empower Excellence: learn how to make decisions that will make you feel comfortable doing the work. No commercial here. There is a problem: poor money relationships. There is a solution: financial courage and resulting good money relationships!
When it comes to money, everybody wants to tell you how to invest, how to save, how to retire rich. That is like telling someone that they will be well every day of their life. Does not happen that way. Life is a balancing act. Life is ups and downs. Life is learning as we go. We know we want to be well physically and emotionally, but sometimes life gets in the way. It is the same with financial wellness. We all know that there are things we need, that there are things we want, but we hold onto our dreams, hoping that it will all come together.
Financial wellness to banks is having a checking account and a savings account and a financial planner with the bank–they want it all, they want all of your money that it. That is their business. Financial wellness to a financial professional is having all of your assets with them so that they can guide you through the needs, the wants, and the dream. That is their business. And then there is basic financial wellness.
Basic financial wellness is you feeling good, feeling confident thinking and talking about money and YOUR money. That is financial wellness. It is the empowerment tool for you to talk with anyone at any time about money, including your banker and your financial professional. It is the basic tool to learn about everything YOU need to know about money…It is YOU in the raw about money. This is you in your light and feeling good with the people who surround you because they appreciate you in the raw.
As an entrepreneur, as an employer, the weekends many times, when you are away from the everyday workplace, become the unconscious thinking time, a very productive time. For those of you have employees, this is their time, for many, to kick back and relax before returning refreshed to the workplace in a day or two. But for many employees, the stress they experience with their finances becomes more intense on the weekend when they have to deal with the money for all sorts of things.
Can you, as an employer, spot the signs of financial stress in your workplace with your employees? If you are seeing these signs, you are also seeing a lack of productivity, which does affect you and your business, and a lack of happiness in your employees.
I cannot help but share these signs with you. That is what I do. I empower excellence in individuals and organizations especially when it comes to money. So, here are some signs to pay attention to. We will talk at a later time about what to do when you are seeing these signs. The first step is to become aware:
- Folks spending time dealing with personal finances while in the workplace.
- Taking loans against their retirement savings.
- Asking for advances before payday.
- Unexpected absences; and
- Medical issues that could have been avoided through preventative care.
Pay attention. Your employees heath affects your business, and their financial health oftentimes goes unnoticed. It can cost you happiness, productivity, and money!
DOES FINANCIAL WELLNESS SOUND LIKE A PIPE DREAM?
YOU CAN COPE AND EASE FINANCIAL STRESS BY BEING FINANCIALLY WELL…
oh, but the BANKS are now speaking about FINANCIAL WELLNESS!
Ask your bank about their “Financial Wellness” program and let me know what they tell you it is…
REALLY, I DO WANT TO KNOW