Category: Estate Planning

2021 – Year of Impact

by Ron Bare

Who or what are you impacting? This is the question we are asking at Bare Wealth Advisors in 2021. Each of us has an impact on someone or something, either in a positive or in a negative manner. Our mission at Bare is to help our clients “intentionally manage wealth that aligns with their God given purpose for maximum impact.” Our desire is to assist you in having the maximum impact with the wealth you are stewarding. What I (Ron) have learned over the past 25 years as a wealth advisor is that most of us aspire to having impact, but many things (both good and bad) easily get in the way of accomplishing this goal.

I recently heard a speaker say, “whenever we have excess it is easy to be wasteful.” It’s easy to think of this in terms of food, or time, but what about wealth? If you have more than enough, do you easily find yourself investing the extra into relationships or causes to help create impact? Or do you spend it on more temporal or short-term fun?

At Bare, we believe God has given us complete freedom to use wealth for enjoyment and for blessing our families, but also for SO much more! We believe in being intentional with excess wealth decisions so we can leave an impact and legacy. The end goal of managing wealth should not be endless accumulation. You have probably heard the saying, “you never see a hearse pulling a U-Haul full of our stuff.”  When we die, only what has been invested into people and impact will last. That is what we are passionate about. Imagine a world where we took the excess resources we have and intentionally invested these funds into causes or people for positive impact.

Let’s dream together about a few areas of possible impact:

Family – have we purposely invested into our families’ dreams, whether that be education, launching a business, or helping to fund a passion?

Local communities – how can we improve the community we live in? Do we know our neighbors and their struggles? Are we involved in local ministries? What other ways can we help our community?

World problems – what problem around the world do you wish to see positive change in? Clean water for all? Elimination of hunger? End of human slavery? Value of human life? I am sure we could name so many more.

Let me leave you with a simple formula for intentional money management so you can have meaningful impact:

  1. Work hard to earn a living and bring increase to your business. We were made to work and improve the earth. (Genesis 2:15)
  2. Learn to be content. Not an easy task but the more we learn contentment the more we can focus on the needs of others. (Philippians 4:12)
  3. Set long term financial goals – college, family, retirement, or other. When you know your goals, it is much easier to calculate how much you will need to accomplish those goals.
  4. Set a financial finish line. This can be an annual cap on your living expenses or a cap on your net worth. When this is set, work hard to grow your income or net worth (increase is good), but commit to using the increase for impact on others.

Following this four-step formula can help you intentionally have an impact in your family, local community, and the world. We look forward to working with you in 2021 to help you set and accomplish your goals and to begin discussions on what kind of impact you wish to leave this world!

Clarity in Planning

Driving into work today the classic 1972 Johnny Nash song “I Can See Clearly Now” came strolling into my mind.  It made me first break out in song and then contemplate the blessing of sight and finally consider how this year is going to be the Year of Vision at Bare Wealth Advisors.  You will hear more about our Year of Vision throughout the year but for now I simply want to focus on seeing clearly or having clarity.

Did you know that eyes are made up of 2 million working parts?  Or that your eye is the fastest muscle in your body?  I regularly take my eyes for granted and forget that my vision is one of the greatest gifts I have.  However, when I forget my glasses or get something in my eyes and lose the clarity of vision, it’s an easy reminder how critical it is to see clearly.

As a financial advisor, one of the areas we excel at is giving financial clarity to our clients.  It’s more than just wealth management and insurance products based on your age and risk tolerance.  These might provide a course but cannot provide full clarity.  Once we get a chance to walk through a full financial plan, understanding a client’s core values in addition to their financial goals and circumstances, we can provide a lot of clarity as to the path they are on and help them answer the question of “how much is enough?” in many areas of their financial lives.

We’re looking forward to 2020 and hope to see you soon!  As the Johnny Nash chorus continues, “It’s gonna be a bright (bright) bright (bright) sunshiny day”.

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