How to Balance Personal and Professional Financial Considerations

Treat Personal Finances as Business Investor

The key to becoming a business owner who doesn’t get lost in the hustle of growing their company while ignoring their own personal finances is to develop a mindset of financial harmony, where personal and business financial decisions complement, rather than compete with, each other. The owner must not let the pressure of running and managing a business cause them to overlook the importance of aligning their personal wealth and financial goals in a way that creates balance.

One tip is to think of your personal finances as an investor in your business. Just as you would use different methods of diversification for investments in your company to help ensure growth, you should do the same for your personal wealth. A long-term plan for personal savings, retirement, and investment portfolio should be created separately. Much like you would invest back into your business, by setting aside a portion of your personal income for growth, you are building security for the future. This will ensure that your personal financial success will not be at the mercy of your business’s performance.

Harold Wenger Jr.
Partner | Wealth Manager

Investment advisory services offered through Kingsview Wealth Management, LLC (“KWM”), an SEC Registered Investment Adviser. Insurance products and services are offered and sold through Kingsview Trust and Insurance Services (“KTI”), by individually licensed and appointed insurance agents. KWM and KTI are subsidiaries of Kingsview Partners. KWM is an investment adviser registered with the Securities and Exchange Commission (“SEC”). Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed.