You’ve Got This Babe – Good is the Enemy of Greatness

Share Post: facebook Created with Sketch. twitter Created with Sketch. linkedin Created with Sketch. mail Created with Sketch. print Created with Sketch.

By Shawndi Purselley, CFP®, CDFA®, Owner and Co-Founder, Wealth Advisor

Jim Collins is an author, teacher and researcher.  He is an expert on the topic of leadership, discipline and management skills as they relate to entrepreneurs and corporations.  I decided I wanted to try to apply Collins’ expertise as it relates to women.  More specifically, I wanted to apply his ideas with how it relates to a woman’s job, their place in their household and their own personal financial situation.  Collins is known for his quote “good is the enemy of greatness.”  I think the take away from Collins’ signature quote is that one should not simply accept being content.   Why is good sometimes worse than bad?  The answer is because good is comfortable and you may choose to live in a good environment, whereas if you were living in bad one you would feel more compelled to make a change for the better.   Why settle for a slice when you can have the whole pizza?

I’ve had several very satisfying jobs in my lifetime.  If I had never made a change, I probably would have had a good career, pay, and benefits.  I would not have had anything necessarily to complain about.  When my business partner and I decided to start Armstrong Purselley, we were in successful positions at our previous firm but there was something missing.  We were searching for excellence.  We both had a strong desire to “level up.”  As a woman, I feel that we sometimes accept good in our careers because we think we can’t have it all.  We as women believe that if we are mothers and wives, we must somehow sacrifice excellence in our career.

Don’t get me wrong.  A strong career path is difficult when a woman is raising children and does not have a supportive spouse (or maybe any spouse at all).  Career excellence doesn’t necessarily mean working 60 hours a week to get ahead professionally.  Maybe it just means finding an employer that provides growth, flexibility, education and competitive pay in addition to a beneficial career path.   I also want to remind women to find that team that supports females in the work force.  Look for a firm that respects your intelligence, listens to your ideas and innovations and provides you with a seat at the table.   When I started in the financial services industry, women were minority in the profession. Today, we are still a minority but we have made great strides.  There are many industry leaders that value the women in my profession and those are the ones I chose to collaborate with.  I’ve learned that I never need to sit at a table where respect is not being served, and neither do you!

When it comes to your household it’s easy to put yourself on auto pilot, especially when there is nothing actually wrong.  I notice in my practice that some women will allow spouses to control the narrative of the whole household.  This practice can make life easy for you, always having everything done and planned for you. However, it can lead to contempt, lackluster feelings, and often times spouses can begin to resent each other.   Get involved in planning vacations, making large purchases, children’s education, and where you decide to live (just to name a few family decisions).

I had a conversation with a woman many years ago that had always allowed her husband to handle their tax return.  He was a sole proprietor and she worked for a large corporation.  When he became sick and later passed away, she learned he had not been paying their taxes, had not filed their tax returns in several years, and the IRS was in the process of seizing their(her) assets, even threatening to take her home.  My heart hurt for her and it reminded me to always encourage my female clients get involved in their household.

Be sure you as a female are getting involved in not only knowing about your family finances and portfolio but that you are actively participating in them.  If you are married and your husband is contributing to retirement plans, you should do the same.  While it’s great that he is building the family assets, you should build them as well.  If you are single then it goes without saying to make sure you are contributing to a retirement plan for yourself.   You are the captain of your portfolio and must ensure you provide for yourself.    Be sure you are reviewing and understanding your tax return, where your assets are and what debt you and your spouse owe.

Are you interested in taking the first step in moving out of good enough and headed for great? Give me a call and let’s get the conversation and plan started.!  Wishing you all the best and the greatest that life has to offer.


facebook Created with Sketch. twitter Created with Sketch. linkedin Created with Sketch. mail Created with Sketch. print Created with Sketch.
Share Post: facebook Created with Sketch. twitter Created with Sketch. linkedin Created with Sketch. mail Created with Sketch. print Created with Sketch.


Your Silicon Valley Bank Questions Answered

You likely have heard about the recent Silicon Valley Bank (SVB) collapse and probably have questions. Here, we provide you with unbiased answers to your questions.

Thinking About Retiring Early? 8 Things to Consider First

Tom Fridrich, JD, CLU, ChFC®, Senior Wealth Planner We’ve all asked ourselves whether it’s too early to retire (usually after a particularly challenging commute or dealing with a difficult client).  You may have even gone so far as to take a sneak peek at your account statements …

4 Tips to Take Your 401(k) to the Next Level

Matt Kory, Vice President, Retirement Programs As a retirement income vehicle, the 401(k) is second in popularity only to Social Security – and as CNBC reported in 2019 the number of 401(k) millionaires is at an all-time high. But is a million dollars even enough for your retirement needs? 

Should I Open a Traditional or Roth IRA?

Multiple retirement savings vehicles are available but having options can be overwhelming. Each option comes with different rules leading to a variance of outcomes in the short-term and long-term. It’s not that dissimilar to choosing what to eat.

1 2 3 105 106 107

Get in Touch

In just 15 minutes we can get to know your situation, then connect you with an advisor committed to helping you pursue true wealth.

Schedule a Consultation

TweetsFollow Us