A quick review of all 7 Your Mindset Episodes to help you take positive action.

• Enjoying life is the ultimate goal (00:27)
• Removing financial anxiety (01:15)
• Income potential: your biggest asset (03:16)

Quote for the episode: "Overall money is a tool, not a goal in itself."

Securities offered through TFS Securities, Inc., Advisory Services through TFS Advisory Services, a SEC Registered Investment Advisor Member FINRA / SIPC.  TFS Securities, Inc. located at 437 Newman Springs Road, Lincroft, NJ 07738 (732) 758-9300.

Welcome to the Enjoy More 30s: Family Finance

podcast, the only podcast dedicated to making life more

enjoyable for young families by hitting on the financial topics

that tend to weigh on us, stress us out and distract our focus

from simply enjoying life.

Hello, and welcome to the Enjoy More 30s: Family

Finance podcast. This is the last kind of summation episode

for the initial "Your Money Mindset" series. I hope you've

enjoyed it so far. And more importantly, I hope this has

helped to remove some of the anxiety items that kind of hold

us back and stress us out, and kind of keep us from enjoying

life as much as we should be. And that's really the point of

all of this. Finance, remember, insurance, investments, all this

kind of stuff, they are just tools. We are here to really

enjoy ourselves and try to make the most out of our lives. And

we need to use these tools to kind of help get us there, but

having big numbers on a piece of paper is not a goal in and of

itself.

Now I'm going to go through all seven episodes here, just bullet

point kind of format. This way I'm thinking, you know, you have

one episode, you can even sit down with your spouse for 10

minutes, recap all seven of these, hit on the major points

and take some positive steps forward. The first point here is

from episode one, "Unknowns Are Scary", is the importance to

clarify unknowns. If we clarify the unknowns, we remove the

anxiety. When we just check off boxes: I have a 401k- check; I

have life insurance- check; whatever that checkbox may be,

that doesn't often remove the anxiety because we're not really

confident that we have that issue covered. So better

questions we should be asking ourselves: number one, what do

we want to do? What actually makes us happy and gives us

enjoyment in life? Let's try to focus our energy on doing more

of that. The second question is, where are we going? Having an

idea of where we're projecting to gives us a better idea of

what we can afford more to do today. The third item is what do

we need to protect? What scenario do we want to protect

for and what amount of coverage do we need to have that level of

security for that situation? Again, overall money is a tool,

not a goal in itself.

So episode two was "Like Super Gymnast Flexible", and really

the biggest takeaway from that is flexibility is very, very

important because we don't know what's going to happen down the

road. 20-30 years is a long time, we want to make sure that

we have the flexibility to adapt as we need to. One of the best

ways to adapt, and stay flexible, is not having all of

our money tied into just a bank, or just retirement accounts,

because each one of those accounts have a specific

purpose. Not saying you shouldn't have those accounts,

however, a taxable investment account can sit between those

two, and takes the accessibility of a bank account (you can get

to it whenever you want to without a penalty), but also

allows you to invest the money and have it in a position where

it has a much higher potential for growth than a bank account

The third episode, "Sur ivors Don't Complain About Too

would.

uch Life Insurance", and it' pretty much a simple theme her

. Way better to have too much li e insurance than not enough. If

you're young and healthy, it s very cost effective- it's no

really going to affect your st ndard of living if you go fro

a $1.5 million dollar policy to a $2 million policy. Again

young and healthy equates to ve y affordable coverages. An

remember, again, your biggest sset as a young family is you

income potential. So protecting that biggest asset, that i

come potential, is really impor ant.

Episode four was "You Already May Be a Future Millionaire",

and it's all focused on getting an idea of what path you're

already on. And you may be better off than you otherwise

may think. And if you are better off, well now you have a good

idea of how much extra could I potentially have for today, and

enjoy more for today.

Episode five, make a kid experience bucket list. We have

18 summers with our kids, they go very quickly. Let's make sure

that we're not missing those opportunities, and we are making

those moments that when we look back we say, "You know what,

thank God I did a, b and c because that was one of the most

enjoyable family events that I've ever had."

Number six, "Investments Should Be Boring". Again, they are our

tool, they're not a toy. Diversify or spread out, fancy

for saying spread out your money, and don't let emotion

dictate your decisions.

Lastly, advisors are not just for old people. If you want an

advisor, great. If not, that's cool too. Just don't have the

mentality that you should be waiting until you're in your 50s

to have one. It is available for you if you are wanting. Lastly,

remember the most powerful tool you have is time, money loves

time to grow. So if you have, whether you have an advisor or

not, that's really the focus that you don't want to lose

sight of.

Again, as always, thanks so much for tuning in. If you did enjoy

this episode, please make sure to review us on Apple podcasts

or wherever you listen. There are literally millions of young

American families out there I'm trying to reach and help just

like you. The last point I'll leave you with is our next

series will be coming up shortly, and it's going to be

called "The Money Multiplier" series. So it's going to go more

in depth on specific topics with actionable items, that you can

take in those specific topics to make the most out of your

situation. And again, making the most out of your situation with

the intent so that allows you to enjoy living more today with

your family and the things that make you happy. Thanks very much

and look forward to connecting with you in the next series to

come.

The conversations on this show are

Joe's opinions are provided for general information purposes

only. They do not constitute accounting, legal tax or other

professional advice for your specific situation. You should

always seek appropriate advice from a financial advisor,

accountant, lawyer or other professional before acting upon

any content or information found here first. Joe is affiliated

with New Horizons Wealth Management LLC, a branch office

of TFS securities Inc, and TFS advisory services and sec

registered investment advisor member FINRA/SIPC.