Elizabeth and I just finished watching Breaking Bad
a couple of months ago on Netflix.
We never watched it when it was on TV despite everyone saying how good it is.
If you’re familiar with the show and its anti-hero Walter White, you may also recall the lengths they went to in order to procure the chemical methylamine for their “cooking.”
You might even call methylamine the key ingredient to their illicit business on the show.
Which brings me to a question…
What’s the key ingredient in your financial plan?
Is it your investment portfolio?
Your future earnings potential (if you’re not already retired)?
Your ability to save?
Your willingness to live within your means?
A business you own?
This list could go on forever…
Based on the questions I’m often asked and some of the conversations I have with folks, it seems like many people are looking for that singular “fix” for their finances.
A silver bullet.
The key ingredient.
But, based on watching Breaking Bad, it seems that while methylamine might have been THE key ingredient, it was still part of a recipe that included other ingredients, steps, measurements, different temperatures, and more.
Your financial planning and decision making is much the same.
Sure, there may be one factor that has more influence than others when it comes to your money, but in my experience it’s the combination of financial factors - or ingredients - that will give you the best chance for success, no matter how you define it.
And here’s the kicker…
Your personal financial recipe - key ingredient included - is personal.
It will be different from the financial recipe for your family, friends, and coworkers.
Just as it should be.
What do you think?
Hit reply and share what you believe your financial “key ingredient” is.
For Elizabeth and I, it’s our savings + living well within our means.
How about you?
I’m curious to hear from you on this.