Back in mid-August I spent a week in rural Maine. The fresh air, plethora of outdoor activities, and slower pace was like a soothing bubble bath for my chronically over-active brain.
In September I spontaneously decided to return to Maine for a few weeks of remote work. I ended up staying over two months. As my happiness-meter continued to rise, I did something very unusual for me: I made an impromptu offer on a small 1930’s lakefront cottage. Concurrently I decided I would now live part of the year in my beloved Portland, Oregon and part of the year in rural Maine.
At first it felt… well, like I had broken the rules.
For decades I had a plan in my head of what my mid-50’s would look like. And it wasn’t this! I was supposed to be wearing Jimmy Choo shoes and Chanel suits as I strode into boardrooms as the CEO of some kind of innovative public company, working to close the #NextBigDeal.
Instead, after hearing that yet another amazing woman in her 50's may have but a little time left due to a malignant tumor it finally hit me: I am the CEO of my life.
Financial health is the #1 power tool that I have, and you have, to build a life of deep emotional wealth. That's why this newsletter will focus on providing you with a wide range of inspiration, knowledge and action steps to help you achieve financial health and explore what a life rich in emotional wealth looks like for you.
Do you know how much money you can comfortably afford
to spend on splurges, small or big?
My favorite rule of thumb is Elizabeth Warren’s 50/30/20 Balanced Spending Formula.
It suggests we allocate 50% of our take-home pay to true needs, 30% to the fun wants, and 20% to be set aside for future spending - be it retirement or a small cabin in the woods.
The exact split will vary from person to person, but the north star to aim for is that 20% saving. And if you are at 1% right now, that’s A-OK. Start wherever you are and increase as you can. It’s worth the effort because these funds build a bridge between your financial health and emotional wealth.
Check out these basic pieces on the 50/30/20 rule; I’m not exaggerating: the return on the time you spend doing this quite literally could change your life!
Remember, you deserve financial wellbeing…and I'd love to help you achieve it! So don't hesitate to email me with any surprising insights, ah-ha’s, or topics you’d like me to address in future newsletters!
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