True abundance means ensuring our heirs have both financial resources to thrive and the emotional wellness to sustain them. For many, wealth and mental health have been treated as parallel lines to not intersect. Even worse, the topic of discussing mental health issues was dismissed and shrouded in an old school silence behind closed doors in fear of judgement or a stigma. It is not just the lows in silence but also the outgoing highs through overspending and keeping up with “Jones”.
I know this dynamic intimately because I lived it personally. Through bipolar family dynamics, the dark depression of loved ones that lead to mental health struggles, to my own journey of ups and downs. Professionally, as a financial advisor, I hear first-hand from my clients about the battles of financial pressures and responsibilities but also, the joys that can come from giving, and providing proper planning. When a family member or loved one battle clinical depression or a turbulent path of manic episode, financial strategies may not be enough and throwing more dollars at the crisis is not the solution. It requires a community of professional intervention, for some, requires faith, emotional energy, and an open heart to share.
Sharing this is not easy, my intention is to normalize these difficult conversations for all the generations around my community and the generations beyond my lifetime. If we truly want to build a legacy, we must start to discuss our holistic health the same way we discuss our quarterly business financial reviews. Authentic legacy is not just about transferring dollars and capital efficiently. It is about fostering an open mindset and honest communication with our mental burdens while being a good steward of our finances. True financial wellness cannot exist in a vacuum. It is deeply, inextricably linked to our mental and emotional well-being. I'm optimistic and believe if one family starts the dialogue then my story is worth sharing.
Connect with Michael: michael.funaro@westpacwealth.com