Cortburg Speaks Retirement

Finding Financial Zen: Simple Steps to Reduce Money Stress & Build Wealth

• Miguel Gonzalez, MBA, AIF®, CPFA®, CRC® • Season 2024 • Episode 232

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Financial stress can feel overwhelming, but finding your financial zen is possible! In this episode, Miguel Gonzalez, CRC®, shares simple yet effective strategies to create balance in your finances—helping you budget smarter, save wisely, and invest in a stress-free future.

Cortburg Retirement Advisors is a boutique financial planning firm committed to helping you grow, protect, and preserve your assets from your first job to retirement. We specialize in wealth management, estate and tax planning, group retirement, employee benefits, insurance, and retirement planning to navigate any economic climate.

Miguel Gonzalez, a Retirement Specialist with 20+ years of experience, offers expertise in retirement income planning, investment management, and retirement plan design. With an MBA from Columbia Business School, and professional experience with JP Morgan Chase, Merrill Lynch, and more, Miguel is a trusted advisor for his clients.

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Welcome to Cortburg Speaks Retirement Podcast
with Miguel Gonzalez, MBA, AIF®, CPFA®, CRC®

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Welcome to Cortburg Speaks Retirement

An audio podcast about investing in the stock market, financial planning, money management and retirement planning.  Each Wednesday, we help investors at all stages of life learn how to potentially grow and preserve their money from first job through retirement.

Now here is your host, Miguel Gonzalez.

Good morning and welcome to the CORTBURG SPEAKS RETIREMENT audio podcast.   

Finances these days may be overwhelming and stress-inducing. Whether it’s following up on overdue bills or saving for the future, financial woes may cause a domino effect that challenges the calmness you work hard to preserve.

What if you could bring that same zen that flows from your meditation studio into your money matters? Finding financial zen is all about a more balanced, less weighty approach to money that might calm your heart and soul. Here are some suggestions to help you find your financial Zen so that you may enjoy a calmer life with fewer money worries.

Create a Simple Budget

Step one is figuring out where your money is going. The place to start is with a budget. A budget is simply a record of your income and expenditures. List your monthly income and write down everything you spend your money on in a corresponding month – your rent, groceries, utilities, taxi fares, etc – and when you make each expenditure.

With this method, you know exactly where you spend all your money. You may see what areas might be cut back and others with a need to put away more money.

Build an Emergency Fund

Unexpected expenses happen. Stay ahead of the curve by having something in reserve. This helps you feel less stressed when an emergency throws a monkey wrench into your finances. A good rule is to have three to six months’ worth of living expenses in a safe savings account.

Set Realistic Financial Goals

Putting a goal in terms of money could motivate you. Whether your aim is to pay off a debt, save for a vacation, or build a retirement fund, make your goals specific, measurable and doable. Break them down into chunks and reward yourself at each milestone.

Automate Your Savings

One of the simplest money-saving hacks is to automate your savings. Make automatic transfers from your checking balance to your savings account each month so you never see the surplus. By saving automatically, you’ll develop a habit of saving a little here, a little there, until you’re on your way to your goals and extra cash is building up.

Live Below Your Means

The first and most important tenet of financial calm is to live on less than you earn, avoid going into unnecessary debt, and don’t spend every dollar you make. Remember that needs differ from wants, and spending in these two ways is entirely different. But here is the huge payoff. If you live on what you make, you may have plenty left over to save, invest, and enjoy. You’re now on your way to experiencing financial nirvana.

Invest in Your Future

Save regularly for your future, particularly in your retirement accounts – an employer-provided 401(k) or IRA. Take your company’s 401(k) match if you get one. Talk to a financial professional to develop an investment plan designed to pursue your goals along with your risk tolerance.

Educate Yourself

To work on financial zen, develop financial literacy. Learn about personal finance, investing and money management. There’s an abundance of books, podcasts, online courses, and more on these topics. The more you know, the greater your chances of making better financial decisions and reducing stress.

Seek Balance

Financial zen is about finding the middle way. Save and invest for the future, but also enjoy your life today. Strike a balance between spending and saving that allows you to live well and also have something put aside for the future.

Make sure to visit our website, www.CortburgRetirement.com. Our site is filled with educational videos, eBooks, publications, and financial calculators designed to help you learn more about your finances.  As you search our site, send us a note regarding any questions you may have about any particular investment concepts or products. We will get back to you quickly with a thoughtful answer.

This is Miguel Gonzalez, Certified Retirement Counselor (CRC) and Managing Partner, with Cortburg Retirement Advisors signing off for this week’s educational podcast.  

 

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Miguel Gonzalez, MBA, AIF®, CPFA®, PPC®, CRC®

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