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 youāre 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 ācooking.ā
You might even call methylamine the key ingredient to their illicit business on the show.
Which brings me to a questionā¦
Whatās the key ingredient in your financial plan?
Is it your investment portfolio?
Your future earnings potential (if youāre not already retired)?
Your ability to save?
Your willingness to live within your means?
A business you own?
Real estate?
This list could go on foreverā¦
Based on the questions Iām often asked and some of the conversations I have with folks, it seems like many people are looking for that singular āfixā 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.
Guess what?
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 itās the combination of financial factors - or ingredients - that will give you the best chance for success, no matter how you define it.
And hereās the kickerā¦
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 ākey ingredientā is.
For Elizabeth and I, itās our savings + living well within our means.
How about you?
Iām curious to hear from you on this.
