A Budget System That Makes You the Money Expert of Your Life
episodePreviously titled “Ep 159 | Why a Financial Advisor Can’t Fix What a Daily Money System Solves” — renamed by the publisher on Aug 2, 2026
Wealthy After 40: Retirement Planning and Budgeting for Gen X
15 min
1 speaker
3 chapters
transcribed 1 month ago
Transcript
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Transcript generated automatically by AI and may contain errors.
What is the main topic discussed in this episode?
Here's the thing.
Why does the host say you are the expert of your money?
Your financial advisor might understand markets, but you understand your life. You know what you value, what you want, and what it'll take to get there. Before anyone else can guide your investments, you've got to be clear on your own money foundation. And that starts with knowing where your money is going and what you want to work toward. Inside this episode, I am sharing with you three tips that will help you be the expert of your money. Welcome to the Wealthy After 40 podcast, the show for Gen X women and couples who are ready to ditch financial stress and feel confident about retirement. I'm your host, Dailene Higgins, financial and retirement coach, helping Gen Xers master their money and create a personalized retirement plan so they can stop spinning their wheels and step boldly into their dream retirement.
If you're feeling behind, don't worry. Continue listening to this podcast as well as be sure to grab your free guide, Five Must Do Steps to Start Retirement Planning Now at elevatefinances.us backslash must do. And remember, let's make retirement possible together. Welcome to the episode. I'm excited to help you understand why you are the expert of your money. And I will be sharing three tips on how to become the expert if you're not feeling quite so sure. You may have heard somebody say, I need a financial advisor, or another person says, oh yes, my financial advisor says to do X, Y, and Z. Advisors are great for wealth growth and investment strategy, which I am not an expert in, but if you don't have savings, that savings stream to invest, you first need to create that.
I always say, if you need a savings stream to fund your financial advisor, you need a financial coach first. And if you want to grow that savings, again, that's your financial advisor. But being able to get the money there without overhauling or wrecking your current lifestyle, your current living, what you want, or over-saving with them, there's a lot of ways to view that. So really, it's coming down to... who you are, what you want, and how much is that going to take? So I had been working with a client for several sessions when all of a sudden she says in one of the sessions, she says, I realized I don't need to be a financial advisor to understand my money. And I said, wow, what a great realization and glad I could be a part of her gaining that confidence and
you know, to help her know she was capable of doing all of these things. And now I'm here to share with you and help you gain that same confidence. Now, advisors are valuable. I have one. I did not get one until I actually retired. But I want you to understand you are the expert of your money and your life. You have a leg up on any financial professional you work with. Yes, me as well. Because you know what your biggest desires are better than they do. They're going to be like, well, you just need this much money. But what if you don't have a solid understanding of what you want? That is very, very important. Having a solid understanding of what you want, what you can achieve, and what it will take to get there is all in your hands and are the things that you need to understand before engaging a financial advisor.
Why? Because it's crucial that you understand where your money is going so that when your advisor says you need to save X amount of money, you know if you have that or not. You shouldn't just be signing up to send them an amount that they determine is crucial for you. Now, you're like, but I need that. Yes, but if you don't have your foundational systems in place, This is going to put you upended. You're going to maybe have more debt than you need because planning for emergencies, there's no longer an option. You might not be enjoying your lifestyle. What if you have a job loss? You know, lots of things. So having your foundational systems in place is crucial. And it's also crucial to know what your desire is for your investments to fund in the future.
What I mean by that is, what is your retirement lifestyle going to be?
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Chapters
3 chaptersSpeakers
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