{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"209 \/\/ 3 Components to Financial Success","description":"James is going to talk about the three things you need in order to live a financially successful life. There is so much complication when it comes to money, but we can really simplify it down to boundaries, balance, and accountability. Boundaries can feel like a limitation, but they can actually be deeply freeing if done correctly. We need a financial balance. Over emphasizing one thing and neglecting everything else will create an unbalanced financial life. We need accountability and conversations with others to create boundaries and balance.    Episode Highlights:  [02:23] Boundaries: In order to have a financially successful life we need to have boundaries. These boundaries are dependent on your situation in the state you live in. There aren't really hard and fast rules. [03:08] Ideally you give yourself a boundary and draw your lifestyle cap, and then the rest of the money can go into savings and investing. [04:26] Creating a frame around us allows us to be safe and have the confidence to enjoy what we have. [06:54] Balance: Don't overemphasize any one thing. Spending all of your resources in one direction can leave you in a situation where you're unprepared, or you haven't saved enough. [08:11] Don't be overfocused on one thing like debt reduction and neglect other things like your 401K or other sensible financial actions. [08:57] All of our goals are saved simultaneously even though they occur sequentially. This creates a challenge when balancing our finances. [10:39] Accountability: It can't happen in a vacuum. When establishing boundaries you need accountability.  [12:05] Begin your journey of accountability by having conversations with your spouse or even checking in with your kids. [14:07] The most valuable piece of your financial community is having a financial advisor to help you create and keep a plan to do what you need to win financially.    Resources & Links Related to this Episode Wealthquest Get Started Living a Rich Life: The No-Regrets Guide to Building and Spending Wealth Episode 19 Build Your Money Community ","author_name":"Invest In Your Life","author_url":"https:\/\/wqcorp.com\/category\/podcast\/","html":"