– Do you want to get more out of life?
In this episode, we show you how to get more out of life than you could ever need. Jeremy Keil speaks with Scott Ferguson, CFP®, JD*, MBA, ChFC®, CKA®, AIF®, Wealth Advisor and Founder of Abundant Life Financial, about how to live a life of abundance. Scott goes over some of the 9 steps to live an abundant lifestyle from his book, “Living the Abundant Life: Adjusting Your Mindset and Finances to Live the Life You’ve Always Desired,” and emphasizes the importance of appreciating what one already has and not focusing on what is lacking.
He shares his background as a family law mediator and how he shifted his focus to helping couples use money to bring them together before diving into the key steps to living an abundant life, including having a clear vision, managing finances, and nurturing relationships.
- The importance of appreciating what one already has and not focusing on what is lacking
- His background in mediation law and transition to wealth advising
- Navigating short and long-term plans to create a clear vision for the future
- Overcoming fears and creating strategies to mitigate risks in financial planning
- The 9 foundational, financial and behavioral steps to living an abundant life from his book, “Living the Abundant Life”
- And more
How To Live An Abundant Life
How do you get more out of life?
How to get more out of life is the big question everyone wants an answer to. It involves going on a multi-step journey.
The first and most vital step is to cultivate a deep appreciation for everything you currently possess. Think of it as completing a puzzle where a missing piece often consumes your attention and breeds discontent. In our world of social media, where everyone showcases their vacations, houses, and pools, it’s easy to feel like you’re missing out.
But the key is to focus on cherishing what you already have, rather than fixating on what’s lacking.
This philosophy serves as the foundation of Scott Ferguson’s nine-step framework He recognized the profound impact of money on people’s lives and made a fulfilling career change by helping couples navigate financial challenges
By emphasizing the importance of mindset alongside financial strategies, they helped couples weather storms and strengthen their bonds, ultimately achieving the abundant life they desired. So, start by appreciating what you have, and you’re on your way to a more fulfilling life.
What mindset do I need to live an abundant life?
The right mindset is crucial on the path to a more fulfilling life. It’s about appreciating what you have rather than constantly craving more. Changing your mindset involves adjusting your core beliefs and perspective on wealth and happiness.
Start by appreciating what you currently have, recognizing that it’s often the core beliefs that influence your feelings and actions. If you believe that immense wealth is necessary for happiness, it can lead to feeling inadequate and being driven by the pursuit of money, often at the expense of meaningful relationships and experiences.
On the other hand, if your core belief centers on the idea that everything is a gift and that you don’t need excessive wealth to be content, your feelings will be of gratitude and blessing, leading to actions characterized by generosity and responsible stewardship.
In a world inundated with messages urging consumption and materialism, it’s necessary to challenge these core beliefs and realize that contentment can be found in what you already possess. This shift in mindset can provide a new perspective on money and life, ultimately leading to greater fulfillment and abundance.
How can practicing gratitude regularly help you live an abundant life?
Practicing daily gratitude is a powerful tool that can help you live an abundant life.
Scott Ferguson shared his personal experience of a cancer diagnosis during his freshman year of college and how it served as a wake-up call to appreciate each day. Through this experience, he learned that every day is a blessing, and he emphasized that people don’t have to endure catastrophic events to cultivate such appreciation.
Gratitude is a muscle that needs regular exercise, and making it a daily habit can keep your mind focused on the important things in life.
His book, Living the Abundant Life: Adjusting Your Mindset and Finances to Live the Life You’ve Always Desired, also encourages us to reflect on daily gratitude as a means to shift our mindset and embark on the journey towards an abundant life.
You can find more about this concept in the first few chapters of the book available for download on AbundantLifeBook.com
How can you navigate your short and long-term plans?
Navigating your short and long-term plans is an important part of achieving financial stability and fulfillment. It involves creating a clear and concise vision for your future, aligning your resources and time with that vision, and adapting to the changing circumstances of life.
First, it’s essential to have a strong understanding of where you want to go and who you want to become, recognizing the impact you wish to make. Once this vision is in place, you can then develop concrete plans and strategies to achieve your goals. Scott stresses that a goal without a plan is merely a wish.
He uses the word “navigate” because life is constantly evolving, with both financial landscapes and priorities shifting. Thus, it’s crucial to revisit and adjust your plans as needed to stay on course.
Differentiating between short and long-term goals and regularly reassessing your plans can help you proactively work toward a future that reflects your long-term vision.
How do you navigate the risks you can’t prepare for?
Navigating the risks you can’t fully prepare for is a crucial part of financial planning and life in general.
Fear often paralyzes individuals, preventing them from taking action on their goals and aspirations. To overcome these fears, it’s essential to first identify and name them.
Once you’ve acknowledged your fears, the next step is to create a strategic plan to address them. Consider the worst-case scenarios and how you can mitigate their consequences through careful planning and preparation. This strategy might involve setting aside a financial cushion, seeking insurance coverage, or leveraging your strengths to build confidence.
By intentionally addressing your fears and developing strategies to overcome them, you can gain the courage to take the necessary steps toward your goals and live a more abundant life. Remember, simply naming your fears and having a well-thought-out strategy can often be the key to overcoming them and achieving your aspirations.
How do you live your life with joy?
Living your life with joy is fundamental to living an abundant life.
The journey towards joy begins by building a strong foundation, as outlined in the initial chapters of Scott’s book, where you appreciate what you have, cultivate a mindset of gratitude, and create a clear vision for your future. As you progress through these steps, you’ll find that joy naturally follows.
Additionally, embracing the present moment, nurturing meaningful relationships, and spending quality time with loved ones are behaviors that enhance the joy in your life. Loneliness, as studies have shown, can have negative consequences, so fostering connections and making a positive impact on others can lead to more joy and less worry.
Incorporating these principles into your life can truly help you live your life with joy and experience the abundance that comes with it.
To learn more about living an abundant life, check out the resources below!
- Living the Abundant Life: Adjusting Your Mindset and Finances to Live the Life You’ve Always Desired by Scott Ferguson
- Free Retirement Planning Video Course: 5stepretirementplan.com
- 3 Things You Should Know Before Choosing A Financial Advisor
- 7 Questions That Could Make or Break Your Retirement
- Subscribe to Retirement Revealed on Google Podcasts
- Subscribe to Retirement Revealed on Apple Podcasts
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- LinkedIn: Jeremy Keil
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- LinkedIn: Keil Financial Partners
- YouTube: Retirement Revealed
- Book a call with Jeremy
About Our Guest:
Scott Ferguson, CFP®, JD*, MBA, ChFC®, CKA®, AIF®, grew up in rural Minnesota, where he learned the joy of being in a close-knit community and how to survive a long cold winter. While studying family law mediation in law school, he discovered his passion for helping families make wise money decisions and live more abundant lives. To best serve his clients, Scott helps them understand where they want to go and navigates plans to get them there. Instilling trust and equipping them with knowledge of how money works allows his clients to enjoy fuller, more generous lives with less worry.
Scott is passionate about learning – he takes pride in staying up to date in this ever-changing industry. Family is what matters most to him. Scott and his wife Angela have two children, Elle Louise and Otto. With any spare time, he enjoys coaching his kids’ sports teams, hiking in North Carolina’s beautiful parks, or spending time with his parents and extended family at their lake cabin in Minnesota.
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