Principles To Grow Your Wealth With Nurturing And Emotional Stability

In consultation with a few retired couples, a common thread is that they are worried about running out of money. This is a genuine concern with the surge in inflation in the past few years. Just take a look at the cost of new and even used cars today. Buying a car can be stressful to one's financial bottom line when there is no economic base.

Obviously, the idea is to implement strategies well before retirement that nurture and grow one's finances, much like planting a seedling so it grows into a flourishing plant. What does a plant need? For starters, it needs water and rich soil with good nutrients. Research says they also need emotional support. That's right, most believe that plants have feelings.

Similarly, our relationships with our partners need nurturing, and our relationships with money need nurturing with emotional stability. If you have a system that is out of equilibrium, it becomes unstable. This certainly applies to our finances. When we're in a state of equilibrium (balance), we are unemotional. Maintaining emotional stability when making financial decisions is essential, as emotional excesses can lead to financial instability and potential loss.

If you try to get something for nothing or give something for nothing, you will be out of fair exchange with the person or the investment you interact with. We must also understand that society will always be made of haves and have-nots. Our finances also have to be balanced with spending and saving. 

Economies cannot work successfully unless both saving and spending are in equilibrium. For many years, the big concern in America has been about balanced budgets. The U.S. has been running budget deficits. In fact, there have been only four years in the past 54 years when there has been a budget surplus. The system is out of kilter.

This keeps contributing to the U.S. debt. The same holds true for most households. They are constantly in debt and running budget deficits. No wonder retirees are under financial stress.

There are principles to address and curtail the situation.