What is your ‘why’?

Why? An age-old question that, depending on the context used, could have a multitude of meanings or implications.

In the world that we operate in at Sugarloaf Wealth Management, we are constantly asking ourselves ‘why’? No, not ‘why’ do we work in the financial services industry? We know that answer, but we are constantly evaluating our convictions because our convictions, our ‘why’, are what drives our decisions.

Why do we believe in this investment philosophy or holding over another? Why do we believe that this one strategy is more effective than another? Why do we communicate with our clients in the ways that we do? The list goes on…

We strive to have a purpose behind all that we do because we believe intentionality matters. We believe it should matter to you, too. Here’s why.

In one of our recent Annual Update meetings with a long-time client couple, the husband said, “I really just want to make sure my wife is taken care of if something happens to me.” The wife smiled, and we then directed the same question to her. What is your ‘why’? She responded that she “wants to make sure her kids and grandkids were taken care of.” – Both seem like pretty fair and reasonable desires, right?

To us, these are more than just desires but statements of purpose… or better yet, it is this couple’s ‘why’. So, why does their ‘why’ matter?

Now that we know their ‘why’, we can formulate our investment recommendations, conversations, their financial plan, and our updates around making sure their wants are considered and addressed. Once the statement of purpose, or financial mission if you will, is established, our job becomes framing every decision through the lens of accomplishing that goal. The “why” establishes accountability in our process; does this decision move me closer or further from accomplishing and/or fulfilling the client’s ‘why’?

Most people’s natural response and default goal for investing is, ‘I want to have more money.’ And, yes, we acknowledge that is a significant part of what we do, but it’s not the only part. We’d likely counter that declaration by asking, “more money for what? Why?”

That is truly the million-dollar question that we want to help you answer, and not just for your sake, but for ours. We believe answering this simple, but profound question, is one of the keys needed to unlock a life of fulfillment.

In our experience, managing money just to make money or just for the sake of investing leads to unsatisfied clients. Like we said above, of course we want to help you make money, but more than that, we want you to live your best life using your resources to amplify and fulfill your purpose, your ‘why.’

Need some help determining your ‘why’? Here are a few we have heard:

I want to support myself, so I don’t want to run out of money.
I want to pay for my kids and/or grandkids college.
I want to travel and see the world.
I want to take my kids and grandkids on a vacation/trip every year.
I want to add to my car collection.
I want to give as much money away as I can without affecting my income.

Everyone has a different ‘why’ and that’s the way it should be. In order for us to do the job you have hired us to do at the highest level, we must know your ‘why’… and we can’t know your ‘why’ until you know your ‘why’!

Our hope is to equip you with the resources to live the fullest and most purpose filled life possible. Thank you for letting us accompany you on this journey!

Your Sugarloaf Team