Personal Finance Family Finance

Stop worrying that you don’t have enough and focus on what you do have

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Jan 14, 2022 • Jan 14, 2022 • 3 minute reading time • Join the conversation We spend a lot of time looking at our neighbors and measuring what we have against what we think they have. We spend a lot of time looking at our neighbors and measuring what we have against what we think they have. Photo by Getty Images/iStockphoto

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Because of my work in financial and retirement planning, I hear this question a lot, “Will I have enough?”

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My professional training and experience have taught me that regardless of one’s actual monetary wealth, it is an impossible question to answer.

For starters, we live in a culture where we ‘never have enough’. We are hypersensitive to all the things we miss. How many times have you started your day with the feeling behind the eight ball?

Not enough sleep.

Not enough coffee.

Not enough sunshine.

Not enough vacation.

Not enough time.

We also spend a lot from time to time looking at our neighbors and measuring what we have against what we think they have.

I don’t want to sound rude, but usually I have to answer the question with a question, “What’s enough for you?”

What does the life you want look and feel like? What does it mean? What is not included? What would be a bonus? What is important to you†

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You can see why it’s impossible to say “enough” is 70 percent of your last employment income, or 80 percent of your pre-retirement income.

If you find yourself worrying about having enough, I recommend three things you can do right away to ease the worry, shift your focus from what you’re missing, and enjoy an abundant mindset.

Focus on what you have

“Where the focus goes, energy flows,” said noted life coach Tony Robbins. In the same vein, “What you value, appreciate,” said Lynne Twist in her book The Soul of Money.

Being grateful for what we have in life leaves no time to dwell on all the things we don’t have. Gratitude can fill the emotional voids that consumerism cannot, and comparison never will. Don’t get me wrong – no judgment here – enjoy shopping. But if you’re shopping to fill an emotional void, it’s time to look deeper.

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Know what you want

Feeling abundant means not giving up and never striving for something new. It means understanding what is important to you and knowing that you are making progress.

I encourage clients to develop a clear spending plan to achieve their financial goals. If you stay clear about your values ​​and vision, you won’t be distracted when the neighbors buy a new toy or by a Facebook friend who seems to be constantly on vacation.

Making a spending plan is hopeful, exciting and positive: you keep your goal in mind and see yourself moving towards it.

Recognize what wealth is

Wealth is not worth it. You are valuable and loved for your gifts, talents, and integrity, not for your wealth. People are remembered not for a dollar figure, but for what they did with their money, whether they have little or a lot.

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Think of the Bill and Melinda Gates Foundation, and those celebrities who donate to movements they believe in. Likewise, there’s that neighbor who always supports local fundraising — $2 or $5 at a time — or a kid who gives a third of his birthday money to Humane Society. These people know they have enough to give, despite their different lifestyles.

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Of course there are financial guidelines, tools, common sense and rules of thumb. These give us a starting point. How you set the guidelines and which tools you use depend on what is important to you.

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What glass-half-empty thoughts creep into your mind when you think “enough”? Do you find yourself comparing what you have with what others have? Do you spend a lot of time worrying about what you’re missing? Do you feel like the answer to “enough” lies in a certain dollar figure?

When I work with clients, get started by focusing on what they have, including their priorities, values, and dreams. And they get to decide what their “enough” looks like.

Colleen O’Connell-Campbell is an asset advisor at RBC Dominion Securities, RBC Asset Management†

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This post Three Ways To Shift Your Focus From What You’re Missing So You Can Enjoy An Abundant Mindset

was original published at “https://financialpost.com/personal-finance/family-finance/three-ways-to-shift-your-focus-away-from-what-you-lack-so-you-can-start-enjoying-an-abundant-mindset”