Can One Financial Decision Make a Difference?

Andy Whitten
PFG Private Wealth Management
18572 N Dale Mabry Hwy
Lutz, FL 33548
Phone: 813-286-7776

I remember a commercial of a ground crewman painting the end zone of his hometown football team, the Chiefs. He took great pride in his work during practice. After he painted the last piece of grass and stood back to admire his handiwork, a player came up and said, “Hey, that’s great, but who are the Chefs?”

On the one hand it’s only one letter, but missing that one vital detail affects the entire picture. This is a perfect illustration of how one financial decision can mean the difference between a successful financial future or a failed one.

I’d like to give you three major decisions that seem small and are made every day but affect the entire picture greatly. These three are interconnected, so making a change to one can be positive or negative to the other two.

1. How much you spend – I use a saying with my clients and it goes like this: “Big doors swing on little hinges.” Spending is a little hinge. I recently showed a client their financial plan and if they reduced their spending by just $500 a month it allowed their money to last all the way to age 95. However, if they continued on their same path, they would run out of money long before then. Knowing how much you spend and even knowing what is discretionary versus what is mandatory helps with making financial decisions.

2. How much you save – Saving money is a task that is not immediately gratifying. You don’t get to bring it home and show it off. You also can’t enjoy the experience like a vacation or a getaway. However many of my clients have stated to me they wished they would’ve saved more and that they would’ve started earlier.

3. How much you accumulate – If you were lost and trying to get somewhere, the first question I would ask you is where are you right now? How much is accumulated is not so much a decision made today but an evaluation and a starting point. In order to make a decision about what goals you want to accomplish next month, next year, or the next 10 years, you have to take an inventory on where you today.

In conclusion, if you reduce spending, it can allow you to save more and therefore accumulate more assets.

These are only three decisions to consider, but there are many more decisions to make. If you need help with making those decisions or want to see a picture of your financial future, give me a call or email

PFG Private Wealth Management, LLC is a Registered Investment Adviser. 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 product, service, or investment strategy.


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