Holistic financial planning is the way forward

Independent research from Ernst and Young proves that a holistic financial plan that includes life insurance, annuities and investments is objectively better for consumers. However, millions of Americans report growing concerns about making ends meet. Add to this what the National Council on Aging calls a retirement crisis, and it’s clear our country needs a new path forward.

I’ve spent almost 20 years at the intersection of politics, public policy and media, and I’ve learned that if you want people to act, showering them with data showing why they should do something almost never produces the desired results. Instead, movement and action usually occur when the heart is inspired.

I believe financial security professionals can and should paint an inspiring and reassuring picture for consumers of how financial security for everyone can become a reality. Here’s one way to do it.

An open letter to those seeking financial peace of mind

Individually and collectively, whether we realize it or not, our financial future is critically important to each of us. In a world that seems more uncertain than ever, the concept of financial peace of mind has become elusive for too many. But we can change this. We can build a future in which financial security is not a distant dream, but a reality for all Americans. And the key to achieving this goal lies in one simple but powerful tool: holistic financial planning.

Let me begin by sharing the timeless wisdom of the great philosopher Socrates, who said, “The secret of change is to focus all your energy not on fighting the old, but on building the new.”

How often do we find ourselves trapped in a battle with old habits, outdated systems, and financial struggles that seem never-ending? Whether it’s mounting debt, the stress of paying bills, or the fear that you won’t have enough money for retirement, these worries can seem overwhelming. But what if, instead of fighting these old battles, we shifted our focus? What if we devoted our energy not to fighting our financial past, but to building a new financial future?

Holistic financial planning is the way forward. It’s not just about budgeting or choosing the right stocks. It’s about looking at the big picture of your life – your goals, your values, your family and your dreams – and creating a plan that brings them all together. It’s about creating a path where your money works for you, rather than you working for your money. It’s about freedom, security and ultimately peace of mind.

Many of us have been taught that financial planning is difficult, that it is only for the rich, or that it is too late for us to start. But these are old ideas that we need to leave behind. Today, I invite you to focus on something new: a new way of thinking about your financial health that will allow you to take control, no matter where you are.

When we talk about holistic financial planning, we’re talking about an integrated approach that looks at every aspect of your financial life. It’s not just about retirement accounts or investment portfolios. It’s about ensuring you’re protected from life’s uncertainties with the right insurance, planning for your children’s education expenses, managing debt responsibly, and creating an estate plan that reflects your wishes for the future. It’s about creating a life where every financial decision is made with purpose and every choice aligns with your broader goals.

And let me be clear: It’s not just about wealth. It’s about peace of mind. The peace of mind that comes from knowing that when you retire, you will have enough money to live the life you want. Peace of mind knowing that your family is protected, no matter what happens. The peace of mind that comes from knowing that you can handle the unexpected—whether it’s a medical emergency, a career change, or an economic downturn—because you’ve built a strong foundation.

This kind of financial security does not depend on luck. It is the result of deliberate planning, working with professionals who understand your needs and help you design a future that reflects your unique circumstances. It’s not about having all the money in the world; it’s about making the money you have work for you in a way that supports your life and your dreams.

So today I challenge you to take a new approach to your financial life. Instead of worrying about the debts of the past or what will happen tomorrow, focus on what you can build today. If you need to, start small. Set goals, seek guidance, and be part of the process. You don’t have to do this alone—there are professionals who can walk this journey with you, helping you understand your finances and empowering you to take charge of your future.

Remember that we have the opportunity to build a future where financial instability is a thing of the past, where every American has the tools and knowledge to create a secure financial future for themselves and their families. This is a future in which peace of mind is not the privilege of a few, but the right of all.