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In recent years, financial wellness has moved center stage for many Americans as they come to terms with the critical role sound money management plays in their health, their work performance, and their financial well-being. The partial federal government shutdown also brought into sharp focus the financial devastation that can occur to those who are behind on their financial-wellness goals.

Unlike consumers who are just now making financial wellness a priority, many NAIFA members have long viewed financial wellness as a major contributor to a life well-lived and have always taken time from their busy schedules to educate their clients about the numerous advantages they can enjoy if they pay some attention to their financial wellness.

Take the case of NAIFA member Aamir Chalisa, MBA, LUTCF, Managing Director of Futurity First Insurance Group in Oak Brook, Illinois. Chalisa has long been involved in his clients’ financial wellness, which he describes as the process of learning how to successfully manage one’s financial expenses.

“All Americans should make financial wellness a top priority. It directly impacts their wellbeing,” he said.  “Also, being financially secure leads to a state of physical wellbeing, while financial stress directly affects one’s health.”

As Chalisa works with his clients to enhance their financial wellness, he makes sure he addresses critical areas like retirement readiness, debt management, budgeting, and the need for emergency savings—all of which are troubling to many Americans.

“As part of my needs analysis with clients, I always discuss these issues so I can better understand their situation, their needs, their goals and their financial desires,” he said. “I believe that a good needs analysis and a keen understanding of clients are fundamental to their financial well-being.”

In his efforts to improve his clients’ lives financially, Chalisa also advises them to:

  • Know where their money is going.
  • Plan for major purchases and retirement.
  • Save for emergencies each month.
  • Get good tax advice.
  • Protect their credit.
  • Keep good financial records.

These words of wisdom have been well received by his clients since they have helped them achieve a certain level of financial success. “I have always let them know that it’s important to know your financial situation, and an ongoing plan helps you achieve your financial goals,” he said.

Chalisa can’t stress enough the importance of having a sound financial-wellness plan. “A person who is financially well makes good financial decisions, has a higher level of satisfaction with his current financial situation, and possesses a greater level of freedom to pursue life on his own terms.”

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