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A Guide To Financial Fitness Part III

By Rhonda Coblentz

After running my first marathon, my confidence was at an all-time high. I had overcome the “impossible” and finished! Always pushing myself to the next level, this year I set a new goal—to run a race in the mountains. Training in Florida on our sea-level, flat terrain is a completely different animal than running up and down steep hills.  But nothing was out of reach for me now; my euphoria and my legs could take me anywhere.

About a month before the mountain race, an illness landed me flat on my back. I lost weeks of work; weeks of training time, and suffered a sucker-punch to my strength and confidence.

I went to the mountains to compete anyway. I persevered, pushed, pained, and powered my way up those wretched hills, so beautiful to view in a sunset but so grueling and demanding from the pavement.
 
Before joining The Principal®, I first worked as a mortgage broker and a real estate agent. Those of us in the profession felt that marathon-finishing euphoria during Sarasota’s real estate selling spree. Our commissions were fat and frequent, and many of us took advantage to purchase investments of our own. Our confidence was at an all-time high.  I understand the business, and I totally comprehend the setbacks. Many of us were going strong and the industry landed us flat on our backs. It’s been grueling, to say the least. Now is the time to establish a recovery plan. Now is the time to pick ourselves up, dust ourselves off, and be ready for the future. Now is the time to run in the mountains.

Fitness and finance…the parallels are endless. Whether marathons or markets, races or real estate, we can apply principles learned in one discipline to the other.
 
In this series we covered the check-up, the strategy, and taking the first step toward greater financial security.  We discussed staying focused on the goal, examining diet and lifestyle, and overcoming. Through it all, I’ve stressed the importance of defining and working to reach your goals—physical and financial—with the help of a coach. Today we’re going to review a few big-picture issues that help define your financial fitness.

Fitness means different things to different people. We come in all shapes, sizes, and energy levels, not to mention ages. A twenty-something bodybuilder and a forty-something career woman juggling job and family define fitness in starkly different terms.
 
One of the potential benefits of working with a financial coach is that the focus is completely set on you.  What does fitness—or financial security—mean to you? It’s not a one-size-fits-all question. Does it mean being debt-free? Having an emergency fund equal to six months’ income?  Being set for retirement? Do you know where you are at? As your financial coach I will help you define and work toward success on your terms.

What is your strongest asset? Is it your business? Is it your real estate including your home? Is it your health? For real estate professionals and other entrepreneurs, your income hinges on optimum health. If you can’t work, you don’t get paid; it’s that simple.  Something that may surprise you 1 in 10 people age 25-64 suffers from disability compared to 1 in 222 housing units catching fire . One mission as your financial coach is to help you define your strongest assets and then help protect them through strategic planning, income protection, and asset protection strategies designed to help you weather life’s unexpected twists.
 
Who are you working so hard for? That answer may change the way we structure your financial planning. A good coach helps you define and align your planning with your values.   Are you working so hard for your family and children? For a lasting legacy?  Are you pouring your life into your business? Is your business your retirement plan? If so, what is the health of your business? Representatives of the Principal Financial Group® specialize in small- to medium-sized business valuations, 401(K)s, and most of all, helping you see the reality of your financial picture.

While financial fitness means something different to everybody, confidence and increased financial knowledge are a universal language.  Call me today to help you gain back your composure and find solutions to help protect yourself and your future.  Gaining financial health can give you the satisfaction of impacting your family for generations to come. It starts and ends with a plan, and can work best with the help of a financial coach to guide you every step of the way. Even if it means running up a mountain in the worst shape and unfavorable conditions.

Did I mention the view from the top?
Glorious.

Source: 1994 Statistical Abstract of the United States.
Insurance products from the Principal Financial Group® are issued by Principal National Life Insurance Company (except in New York) and Principal Life Insurance Company. Securities offered through Princor Financial Services Corporation, 800/247-1737, member SIPC. Principal National and Principal Life, and Princor® are members of the Principal Financial Group®, Des Moines, IA 50392. Rhonda Coblentz, Principal National and Principal Life Financial Representative, Princor Registered Representative. #6474082011

As a Financial Representative and Registered Representative with the Principal Financial Group®, Rhonda Coblentz works with individuals and business owners in the planning and execution of the steps  to help achieve their unique financial goals.  With a background in the real estate and mortgage industries Rhonda offers a well-rounded approach to her business. Rhonda acts as a resource for her clientele, who benefit from the firm’s 130-plus years in the industry.  The Principal® offers financial products and services, including 401(k) plans, IRAs,  mutual funds, investments, insurance, and banking services . Contact Rhonda at 941-504-9010   #6531082011