Hockey defenseman, Carl Gunnarsson renewed his contract with St. Louis. Remarkably, the contract was for less than they paid him for his last contract.
How much less? Almost $3.5 million less. And he made this without even considering another option elsewhere!
What caused Gunnarsson to stay with St. Louis?
He said he was happy. Happy to be on a team that treats him well. One where he feels he will do well in the long term. He was happy to have a team invested in the future of their players.
For Gunnarsson, it was more than just money.
It was less about salary, and more about how he felt and with whom he associated. It was about the culture of the organization! It made his job worth it.
Wealth, by our standards, should be treated similarly. Wealth is more than just about the money, just a like a job is more than just about the money.
Your wealth has three dimensions. A Financial Dimension, yes, as well as a Personal Dimension and a Social Dimension. Unfortunately, the Financial Dimension is usually the first (and only) aspect most people think of when the word “wealth” comes to mind.
Sadly, this single dimension has often been the only topic financial planners discuss with their client!
It’s the industry’s fault, really. Traditional financial planning begins and ends in the Financial Dimension alone! Balance sheets. Income statements. That’s it. Nothing more.
What a shame, to ignore those other two dimensions, Personal and Social!
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