Scott Ford, founder and CEO of Cornerstone Wealth Management Group
Over 250 years ago, Benjamin Franklin wrote an essay entitled The Way to Wealth, which explains how investors could achieve great financial success with a few basic principles. At Cornerstone Wealth Management Group, we have created a disciplined system for financial planning and wealth management using our Way2Wealth process.
The system is designed to help our clients pursue true wealth. But what is true wealth? Today, I’d like to dig deeper and discuss what true wealth really means. To me, true wealth is made up of all the things money cannot buy and death cannot take away.
The Six Pillars of Life
My belief is that happiness in life and true wealth are found in maintaining balance between what I see as six major areas of focus, which I call the Pillars of Life:
- Spirituality
- Family
- Health
- Career
- Giving
- Finances
If one area is out of balance, the other areas are likely to suffer as well. It’s difficult to find true health and happiness if your life is out of balance. True wealth means having enough time, energy, and resources to put toward each of the six pillars.
I’ve found in the past that of all things people enjoy doing, handling their financial situation ranks close to the bottom. Everyone enjoys making the money, but most feel burdened by the decisions required to manage it properly. My desire is to alleviate this burden and allow individuals to focus on the areas of their lives that are really important to them and that bring them great joy.
Defining True Wealth
No two definitions of true wealth are exactly alike. What’s most important is that you define true wealth for yourself so that you can create a plan to pursue it. We don’t plan to wake up each morning and say, “I choose to work on someone else’s priorities and goals today.” Yet we do this unknowingly because we are wired to help others. Over time, we wake up and wonder where our own priorities and goals have gone.
What is the secret to finding true wealth? Setting boundaries with your career, your obligations, and your personal life that align with your values is a great start. Getting crystal clear on what’s most important to you and how much time and energy you’ll devote to each of your passions can ultimately deliver the balance you’re seeking. For more on defining true wealth and setting goals, visit our Infographic here.
Identify Goals with a Personal Financial Advisor
Once you’ve defined what true wealth means for you, you can begin setting goals to work towards it. Perhaps you’d like to cut back on work or travel to spend more time with your family. Maybe you need to save more for retirement to feel financially secure. Or, you might have always dreamed about leaving a charitable gift to the cause you care about most.
Whatever your personal goals, working with a personal financial advisor is the first step in discovering the right strategy for you. At Cornerstone Wealth Management Group, we work closely with clients to identify their unique goals. Our wealth advisors help identify what to improve, develop, or change as it relates to your wealth. By setting long-term financial goals, you can lay the foundation for your own version of true wealth.
To learn more about how our Way2Wealth strategies may help you define and pursue true wealth, please call our office at (301) 739-8505 or email me at [email protected].
About Scott
Scott Ford, founder and CEO of Cornerstone Wealth Management Group and a Carson Institutional partner, serves on the investment committee as the technical strategist. He is a registered principal at LPL Financial and is a registered financial consultant. Scott is ranked in the top two percent of all LPL registered financial advisors based on annual production.
He was recognized as one of the 20 Rising Stars of Wealth Management by Private Asset Management Magazine. Scott is the author of three books: The New York Times Bestseller, The Sustainable Edge, as well as Financial Jiu-Jitsu: A Fighter’s Guide to Conquering Your Finances and The Widow’s Wealth Map: Six Steps to Beginning Again. Scott and his family reside in Hagerstown, Maryland.
Securities offered through LPL Financial, Member FINRA/SIPC. Investment advice offered through CWM, LLC, a Registered Investment Advisor. LPL Financial is under separate ownership from any other entity.