For the past few weeks, I’ve made a Point of asking you (in one way or another): “How are you doing, really?”

My goal has been to get you thinking about where you stand in life. First, we looked at your professional standing, and I asked you how you’re doing at work. But because we follow a whole-life approach with our proven coaching model, we realize that a lot of important things happen outside your office. That’s why our 7 F’s of True Success model looks at the Fundamentals of work, Finances (and creating your financial legacy), Family (and friends), Faith, Fitness (emotional and physical), Fun and the Fusion of these things.

Now, we’ll take our focus out of the office, and our first question is a doozie. It’s simply this: “How are you doing financially?”

For a lot of people, just hearing that question can make us take a big, deep breath and reply, “Uggh.” Lots of people have too much mortgage, too many credit cards and more days in the month than they have cash. It’s enough to make anyone feel anxious. What’s more, most of us don’t want to talk about it.

But it’s worth talking about—even if the conversation is only between you and yourself. As long as it motivates you to positive action.

To perhaps make the conversation easier, approach this idea of finances from a bigger place. Answer this question: “How are you doing when it comes to creating a financial legacy for yourself, your children and your children’s children?”

Now that question might also set some people off—but it doesn’t have to. And if you want to make a lasting difference in your family’s lives, your answer should involve careful planning and maybe even some soul-searching.

The media tells us we’re a consumer society. Today and for many, that means we consume all that we make—and then some. But that doesn’t mean it has to be that way. There’s a great vignette that goes:

“You know the difference between rich people and poor people? Poor people spend what they make and save what’s left. Rich people save what they make and spend the rest.”

Creating your financial legacy means coming up with and following a practical, workable strategy for earning, spending, saving, investing, tithing and borrowing. Wealth creation also requires planning, discipline and time. And maybe most importantly, accumulating wealth requires that we practice delayed gratification.

Parade magazine recently ran a feature on Warren Buffett. The article, “10 Ways to Get Rich: Warren Buffett’s Secrets That Can Work for You,” had lots of practical tips that anyone can use. Number 1 on Buffett’s list? Reinvest your profits. He said, “When you first make money, you may be tempted to spend it. Don’t. Instead, reinvest the profits.” That’s pretty good advice from the richest man in the entire world. (His fortune is estimated at around $62 billion.) I think I’ll listen to him and follow his advice when I ask myself, “How am I doing financially?”


Yes, you can create a financial legacy for yourself and your family. But you can’t do it by chance or while consuming all that you make. Take a tip from Buffett and invest in your future. Establish a plan for earning, spending, saving, investing, tithing and borrowing. Begin today—you’ll be glad you did at some point in your future. And along the way, you’ll teach your children a very important lesson about delaying gratification.