by Dave Kutcher
Happy Father’s Day!
How do you define wealth? How people define wealth for themselves as opposed to how they define it for others is not at all the same.
A Charles Schwab survey indicates that when asked how much money it takes to be considered wealthy in America, respondents say an average of $2,200,000. However, more than half of those same respondents who said they already feel wealthy themselves had an average net worth of $560,000. Non-financial assets like personal health and family were far more important when defining wealth than having large sums of money.
As you dig into the weeds further to see how people really feel, it is good to see that enjoying healthy relationships with loved ones is more important than money and people also see minimizing stress over money as more important than having more money.
Among the older generations, this same Schwab survey on wealth indicated nearly 80% of folks say wealth is more about enjoying experiences and not having financial stress than having nice things or accumulating more money.
Maybe, instead of trying to figure out what to buy Dad for Father’s Day to make him happy, we should be looking at how to spend more quality time with Dad and share experiences that will provide lasting memories and feelings of unity in our family lives.
Since our mantra is all about safety, growth and control we are doing our part for Dad … relieving stress related to financial risk while having a plan that provides opportunity for growth and includes Dad’s ability to control his financial future.
We hope you have a chance to do your part for Dad by spending more quality time with him, sharing life experiences that will provide lifelong memories filled with laughter and love for each other.
Happy Father’s Day!
I am Dave Kutcher, a retired Marine Corp Captain and a managing principal at Frontier Retirement in Eagle River, AK. You can catch me on the radio every Saturday morning, “Retirement in the Last Frontier”, 8:30-9:30 on AM 650, Keni Radio. Frontier Retirement, 10928 Eagle River Road; Eagle River, AK 99577, (907) 795-7452.
