Holistic financial planning is the way to go – Insurance News

Independent research from Ernst and Young shows that a holistic financial plan that includes life insurance, annuities and investments is objectively better for consumers. Yet millions of Americans report growing concerns about even making ends meet. Combine that with what the National Council on Aging calls a retirement crisis, and it’s clear our country needs a new way forward.

I’ve spent nearly 20 years at the intersection of politics, public policy, and the media, and I’ve learned that if you want people to act by showering them with data that shows why they should do something, it almost never pays off. which you intend. Instead, movement and action usually occur when the heart is inspired.

I believe the financial security profession can and must create an inspiring and hopeful image for consumers of how financial security for all can become a reality. Here’s a way to do that.

An open letter to those seeking financial peace of mind

Individually and collectively – whether we realize it or not – our financial future is extremely important to each of us. In a world that seems more uncertain than ever, the concept of financial peace of mind has become elusive for far too many. But we can change that. We can build a future where financial security is not a distant dream, but a reality for all Americans. And the key to achieving this lies in a simple but powerful tool: holistic financial planning.

Let me begin by sharing a timeless piece of wisdom from the great philosopher Socrates, who said, “The secret of change is to focus all your energy not on fighting the old, but on building the new.”

How often do we find ourselves caught in the loop of struggling with old habits, outdated systems, and seemingly never-ending financial struggles? Whether it’s mounting debt, the stress of paying bills, or the fear of not having enough for retirement, these worries can be overwhelming. But what if, instead of fighting these old battles, we shifted our focus? What if we dedicated our energy not to fighting our financial past, but instead to building a new financial future?

Holistic financial planning is the way to go. It’s not just about creating a budget or choosing the right stocks. It’s about looking at the big picture of your life—your goals, your values, your family, and your dreams—and creating a plan that brings it all together. It’s about creating a path where your money works for you, rather than your money working for you. It’s about freedom, security and ultimately peace of mind.

Many of us have been taught that financial planning is complicated, that it’s reserved for the wealthy, or that it’s too late to start. But these are the old ideas we must leave behind. Today, I invite you to focus on the new: a new way of thinking about financial health, one that empowers you to take control, no matter where you are on your journey.

When we talk about holistic financial planning, we’re talking about a comprehensive approach that looks at every aspect of your financial life. It’s not just about retirement accounts or investment portfolios. It’s about making sure you’re protected from life’s uncertainties with the right insurance, planning for your children’s education costs, managing your debt responsibly, and creating an estate plan that reflects your wishes for the future. It’s about creating a life where every financial decision is made with a purpose and every choice aligns with your larger goals.

And let me be clear: it’s not just about wealth. It’s about peace of mind. Peace of mind knowing that when you retire, you’ll have enough to live the life you want. Peace of mind knowing your family is protected no matter what happens. The peace of mind of knowing you can handle the unexpected—whether it’s a medical emergency, a career change, or an economic crisis—because you’ve built a solid foundation.

This kind of financial security does not come by luck. It comes from intentional planning, from working with professionals who understand your needs and help you design a future that reflects your unique circumstances. It’s not about having all the money in the world; it’s about making the money you have work for you in a way that supports your life and dreams.

So today, I encourage you to take a new approach to your financial life. Instead of worrying about the debts of the past or what will happen tomorrow, focus on what you can build today. Start small if you need to. Set goals, seek guidance and embrace the process. You don’t have to do it alone—there are professionals who can walk this journey with you, helping you make sense of your finances and empowering you to take control of your future.

Remember, we have the power to build a future where financial insecurity is a thing of the past, where every American has the tools and knowledge to create a secure financial future for themselves and their families. It is a future where peace of mind is not a privilege for the few, but a right for all.

Maggie Seidel is executive vice president for external affairs and chief of staff at Finseca. Contact her at (email protected).