Ready To Be Rich
Smart Financial Advice For People On The Way Up
Ready to be Rich was a book that I felt needed to be written within our space. It was a book that I felt would bring a refreshing view to budgeting and managing money to younger generations and people growing their wealth. And it was in an attempt to change the conversation with regards to younger generations (heck all generations) as a different way to look at managing the balance between creating better financial habits, a better financial future and still enjoying life today. As a technology company, we constantly challenge ourselves to look at financial services through a different lens. A lens that looks to solve challenges and create value in ways that many may not have thought of before. And Ready to be Rich was meant to take that same mentality that we bring to all of the businesses that we serve with our technology innovations to the end consumer.
Budgeting is a topic that many tend to avoid and it tends to be a topic that is only discussed around New Years as a resolution but tends to only be stuck to for a couple of months. The headlines constantly point to our inability (both younger and older generations) to save for the future and prepare for retirement. Yet, the tools and content out there continue to point us to the same old concepts and ideas. They are all legitimate and Ready to be Rich wasn’t meant to give people a silver bullet that allowed them to spend frivolously without actually saving (because that doesn’t work). But what it was meant to do was to change the way that these age-old concepts are delivered. And to re-think the way that we can help to train people to create solid financial behaviors, by looking at how people actually act as opposed to how we would hope or desire them to act. When we want people to change, we must also give them something they want or desire or are able to wrap their heads around. So often financial advice tells younger generations to save for retirement today because time is the key to more savings in the future. This advice is spot on, but why aren’t people listening and doing this?! The models show it, the penny examples show it, etc. It’s because it’s not something that is desirable at a young age, but more importantly it’s not something young generations can wrap their head around. Saving for something that is 35 years away when you are only 30 years old, means that you are saving for something that is more than a literal lifetime away… how can you be motivated to save for something that seems longer than eternity to you at this point in time?!
We must strive to change the way we look at communicating information to different generations to help them create the habits, by relating to them, engaging with them and ultimately rewarding them. Because just telling them and showing them hasn’t worked. With Ready to be Rich, I was hoping to change the way people viewed the balance between saving for the future and living today to hopefully get people to create the positive financial habits that are desired, while also being rewarded today.
And it’s the same mentality that we take, as a company, when building technology for those within the financial services space. We may introduce an out of the box solution, but it’s meant to engage, relate and create extreme value for everyone involved. It’s not meant to change the foundational elements needed to building relationships and growing firms, it’s just meant to look at how these are done and see if there is a more efficient and valuable way to do so. If we limit ourselves to only the ways that things have been done or only the technologies that we have grown comfortable with, we won’t create extraordinary change and impact. Ultimately leaving us wanting (or needing) more when it is too late.