The working parent whirlwind

by Kevin Janiec CFP®, MBA

As working parents, we occasionally find ourselves “spinning our tires.”

Our tires spin as we power through the busy workdays, urgent conference calls, constant home improvement projects, and never-ending homework support.  Our tires continue to spin as we scramble to kids’ games, doctors’ appointments, quick workouts, and social events.  They keep on spinning as we take on the dirty diapers, excel spreadsheets, dishes, and the overflowing laundry baskets and email inboxes standing in our way.  Are you experiencing this whirlwind right now? I certainly am.

You might have noticed that this whirlwind can disorient your sense of “where you financially stand” and temporarily blind you from “where you would like to be in the future.” And while we all possess the resilience and survival tactics to make ends meet, we lack the financial clarity, confidence, and capability to know how to optimize our money in this pursuit of happiness.  Because of this, we find ourselves and our spouses guessing, stressing, and digressing on every big life decision that comes our way.

We created the New Wealth Project to solve this problem.  We structure a planning process that brings clarity to working parents amidst the whirlwind.  We design a roadmap to bring confidence on the path forward.  We engage in a partnership that provides the traction and ongoing navigation that working parents need to avoid the roadblocks as they safely and efficiently progress along their journey.

The “Personal Mission Builder” engagement is where many working parents find this clarity.  The discussion provides an uncommon forum for the couple to talk through their priorities, values, goals, and worries. The “Investor Profile” that is completed prior to the meeting allows a family to take inventory of what they have and what they think they might need down the road.  The “Vision Link Report” that is delivered after the conversation serves as the foundation for the path forward by defining the goals and concerns discovered through the engagement.

I personally know how hard it is to find the time and focus for these conversations and exercises at home amidst all of the distractions and to-do lists. But from our experience facilitating the Personal Mission Builder at the New Wealth Project, it is powerful to see how quickly the tires stop spinning and the path forward begins to clear for the couple that gives the process a chance.

Through these conversations, working parents have realized that they can afford to leave the stressful job for the more flexible one.  We have seen families figure out how to balance experiences today with financial independence in their distant future.  We have seen couples get on the same page regarding how much to save in college funds whether they wanted their kids to go fully funded or have “skin in the game.” We have seen couples figure out whether they’d prefer a beach house in Ocean City or if they’d rather travel to new destinations each year.  We have seen couples stop arguing over Starbucks coffee, Amazon packages, and golf trips.  We’ve seen couples feel more united about a financial and life plan that was aligned with their dreams and values.

As ambitious and dedicated working parents, we all signed up for the chaos, and we are glad we did.  But it doesn’t need to be this hard.  We could all use a little guidance from a trusted advisor like the New Wealth Project.  If you and your spouse need to reorient your current financial situation and find a clear line of sight forward, it might be time for us to chat.

Investment Advice offered through FC Advisory LLC, a registered investment adviser doing business as “New Wealth Project” and as “Financial Coach”.  This content is provided for informational purposes only.  Views and opinions expressed are those of the authors and do not necessarily reflect those of FC Advisory, LLC.  Information provided is not and should not be interpreted as investment, tax, legal, or other professional advice or recommendation by FC Advisory, LLC or the members of our firm.  Always consult the appropriate professional regarding your specific situation before implementing any options presented or inferred.  FC Advisory LLC, All rights reserved.

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