During a recent Wealth Mentor Training with a group of financial advisors we were discussing our definitions of a Quality Life. A number of advisors made a very key observation: Is there such a concept as a balanced life? Can a person really have balance? This discussion really hit a chord with me as this point really gets to the core of what the Financial DNA program is all about.
What the discussion boiled down to was that balance is different for all of us. You cannot directly compare the life balance of one person to another. So, the conclusion of the group was that there cannot be a universal definition of balance. The reason is that we are all uniquely wired and consequently we will have different life outlooks and motivations. For some people this will mean spending more time and energy involved in work or business activities, or for another person more time and energy will go into family or sports or recreation and for others perhaps planned giving activities will be given more time.
Therefore, balance is really unique to your life. To a large degree balance will vary depending on your innate behavioral style, the environment you have lived in and currently live in, life experiences, education and values. At the various stages of your life the time and energy you put into these activities may vary. Also, an important part of the equation will be how much money you spend or invest in these various activities as that is part of balance too.
So assuming we accept that there is a concept of balance but recognize it is different for each of us, then how do we measure it? In essence, we need some frame of reference to monitor ourselves and also guide others. Some measurements may include: degree of happiness, contentment or general comfort, confidence, positive energy, low levels of stress, excitement and sound relationships.
So in advising, mentoring, coaching and guiding clients and others in your life it is important to recognize how you design your own life plan for balance may be different for others. Importantly, you also need to be careful in passing judgment on your clients or the family and friends you may be interacting with.