It’s an interesting business I’m in, and there is an interesting perspective amongst the public about what we do as wealth managers. Most people think our careers have to do only with money. The truth is, our duties stretch far beyond the realm of money; at least here at J.M. Arbour they do.
Yes, we manage money. However, we also swim in the sea of human hopes, desires and goals, both short and long term. We experience various family dynamics, legal structures, life-altering events, and the unforeseen. We experience weddings, divorces, babies being born, businesses rising and falling, and people at all mile markers on the journey of life.
There are many forms of wealth; I believe happiness ranks at the top of the list. Intelligence, musical ability, athleticism, artistic creativity, and ingenuity are some other examples. Health, in my book, most certainly makes the cut as well.
As a wealth manager, a person’s mental and physical well being are important to me. I ask myself, “What is the purpose of building monetary wealth (or helping a person do it) if the person who owns the wealth is not here to enjoy it or is not deriving happiness from it in some way?” I can’t think of any solid answers.
Health is a state of physical, mental and social-well being in which disease and infirmity are absent. What are you doing while building your career, while raising your family, while being a spouse or significant other, to take care of you and your health? When is the last time you scheduled time for you to realign with what brings you independent joy? For some people, the answer is,”too long ago.”
As a wealth manager, I hear about the most personal details of people lives as the human veil comes down behind closed doors and trust paves the way for open conversation. I am 35, but over the course of the past 13 years, I have conversed with over 2,500 individuals or couples, all over the age of 60. All of them, each having their own views on life and more life experience than myself, have shared where “wealth” for them truly lies. It is always in a feeling and one rooted in happiness.
Here is what I promise: When you strive for happiness, the rest falls into place, including wealth in different forms.
See you all next month.
Jac Arbour CFP(R), ChFC(R)
Jac Arbour is the President of J.M. Arbour Wealth Management. He can be reached at 207-248-6767.
Investment advisory services are offered through Foundations Investment Advisors, LLC, an SEC registered investment adviser.