TaskHuman Welcomes Financial Wellness Coach
TaskHuman is thrilled to introduce Financial Wellness to the platform as we continue to broaden our services within the pillars of wellness. Remember that wellness isn’t all about lifting weights and eating your greens, it’s about feeling your best in all aspects of your life—including your relationship with your personal finances.
That said, we are very excited to welcome our new Financial Wellness Coach, David Taylor, to the TaskHuman coaching team. David is ready to provide guidance to TaskHuman users on all things money and finances.
Our new financial coach recently sat down with fellow provider, Jamie Carroll, for a video podcast interview on “TaskHuman Talks.”
Here are David’s core investing beliefs:
- Know your investing philosophy
- Have a plan
- Connect with your provider
The interview was comprehensive and enlightening – a must hear for people in any part of their financial journey. Here are the topics they covered:
1. Social Security isn’t going away
According to David, it’s likely the concerns around Social Security will be alleviated before it disappears. But it is your age that gives you the most information. People who are further away from retirement will most likely see a reduction in the benefits. It won’t disappear entirely, but depending on it is as your sole income may no longer be possible.
A key resource is SSA.gov. It can give you an estimate of what your payout would be given your current situation. David points out that the closer to retirement you are, the more accurate the information is, but it can still give you insight.
Keep in mind that the information is very generalized. It doesn’t take into consideration your unique situation and perspective. But it can still be useful.
“There’s no one-size-fits all is true,” David says, “But there are also fundamental truths that I think can help people.”
2. Have the right perspective
When you’re ready to think about investing, you need to know what you believe about investments. Not only because it helps increase your return, but also because there are too many possibilities to aim blindly and hope you hit your target.
“You don’t plan to invest. You invest in a plan,” is David’s philosophy. It helps him target only those investments that will help his clients meet their goals, and he can ignore everything else.
That alone is powerful. By having focus, you’re not swayed by every jump or dip. It gives you an anchor in your decision-making. It takes emotions out and brings logic in.
“Balancing emotions is the key to successful investments,” David says.
3. Plan for life to happen:
This year has challenged many people in ways they have never been challenged before. When people face difficulties in one area of life, their concern easily spills over into other areas.
Knowing your cash flow situation is the way to combat insecurities for David. When you know exactly what your necessities, conveniences, and luxuries are, you are able to respond quickly when your situation changes.
“When you’re in the midst of a lot of turmoil,” David says, “when you have a plan, you don’t have to worry about how your investments are doing. You focus on your plan.”
He understands that when situations shift, changes need to happen. But with planning, it won’t need to be a life-altering event.
“People think [investing] is about making the most money, but actually it’s about protecting what you have,” David says.
4. It’s never too early – or too late!
In some places, people need to be at least 18 years old to begin retirement investing – but not in all places. Either way, David feels you should start as soon as you are able. Even though you won’t be making as much money as you will in the future, it puts you in the right mindset for investing.
“If you have the opportunity, I would say start then,” David says. “Because, one, it’s a discipline, so the more you do it, the sooner you start it, the easier it is to pick up.”
At the same time, if you’re further along in your career journey, and you haven’t started saving, it’s not too late to start.
You may need to be more aggressive, but once you have a plan, you’ll know what you need to do to get there.
5. TaskHuman is a great tool
There’s a difference between a Financial Advisor and a Financial Coach, and it’s important to know what those differences are.
According to David, to work with a Financial Advisor, you need to have assets. To work with a Financial Coach, you can be in any stage of your financial journey, and they are more equipped to support you in getting where you want to go.
That’s one of the main reasons David is excited to work as a TaskHuman provider. He wants to help people in every stage of investing to make positive gains toward their financial goals.
“I’m excited about the TaskHuman platform,” he says, “because the coaching aspect of it is a passion of mine.”
David and Jamie end their interview with three investing mindset mantras:
- It starts with you.
- It starts with connection.
- Slow and steady does win the race.
Personal finances can be intimidating. It’s hard to understand what everything means and what the best options are for you. That’s why a good financial wellness coach is an important goal. But finding one you have a connection with is also critical.
To listen to David’s full TaskHuman Talks video podcast episode, click here.
If you are ready to create your own financial plan, connect with David on the TaskHuman app for a 1 -on- 1 live video call today!