Physicians and their patients know that vitals are measurements of the body’s most important basic functions. Checking and tracking vitals indicate how your health is now and maybe in the future. Vitals are a progress check to prevent potential problems.
In this episode of the Finance for Physicians Podcast, Daniel Wrenne talks about checking your financial vitals. He discusses how medical vitals are similar to financial ones because they tell you how you’re doing and what goals to set to improve your health and well-being.
- Goals, Values, Priorities: Measuring medical/financial vitals depends on individual
- Why are values so important? Key factors between living a good life or not
- Clarify Values: What’s most important and what are your goals? Why?
- Net Worth Vital: How important is building wealth and financial independence?
- Cultural Norms: Immediate gratification, materialism, perfection, bigger is better
- Chart Path: Balance what’s most important and what’s pulling you in different directions
- The Three Questions:
- If you were financially secure, how would you live your life?
- If time to live is limited, what will you do with the remainder of your life?
- If you have only one day left to live, what will be left undone and missed?
- Fourth Question: Years from now, how well have you done financially, and what has to happen for that to occur?