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  • Writer's pictureNate Baim, MBA, CFP®

This is Key to Growing Your Wealth

Enjoy this week's edition of the Planner's Beta

Beta (n) - climber's jargon that designates information about a climb This digest's purpose is to share observations, ideas, and treasures found this week which you may also find insightful. Sharing does not mean it's an endorsement. I am endorsing the pursuit of knowledge and exploration.

This is Key to Growing Your Wealth

This Month's Financial Planning Item - Reviewing Job Satisfaction and Income

What is wealth? I would argue wealth is more than just dollars in a bank account. Wealth is when you are spending your time with the people you love and living a healthy lifestyle in the community you enjoy. And let's face the music, financial wealth is one element of achieving wealth.

Because income plays such an integral part in growing wealth, I encourage you to review your career. These are the steps to take when evaluating your income:

  • Assess Career Fit and Revisit Your Why

  • Review Current Pay

  • Evaluate Other Career Opportunities

  • Begin Developing an Action Plan if Needed

Assess Your Career Fit and Revisit Your Why

Loving your career is an essential tool for generating wealth. Each year, you should review your values and goals and ask yourself, "Is my current job helping me living my best life? Is it time for a career change? Is my financial situation ready for a new career path?" You may also take this 1-minute assessment to learn about your career fit and how your finances might impact your ability to make a move.

Review Your Current Pay

You may find you are in the correct place after assessing your career and goals, but you may still feel under-compensated for your time and talents. Fortunately, there are many resources out there to determine if your pay is competitive. The first site I encourage people to review is the Bureau of Labor Statistics website. From there, you can search your occupation and find compensation statistics for your job and location. BLS's database is a great starting point. I also encourage folks to review salary information at And finally, Glassdoor contains salary details for particular jobs. Glassdoor is excellent to see what employers pay their employees, providing you more detailed information than the government sites. From this information, you may determine if it is appropriate to ask for a raise or look for other opportunities.

Evaluate Other Career Opportunities

It is essential to keep an updated resume on hand at all times. Now is an excellent time to review and update the resume. Here is a downloadable resume template I designed for you to help format a clean and professional-looking resume.

It is always good to shop around on popular job boards like LinkedIn or Indeed. Review available openings. If you find an exciting opportunity searching the job boards but aren't confident, remember it never hurts to apply. An application is not a commitment. If you do get an interview, remember it is a two-way street; you should be evaluating them just as much as they are evaluating you. Suppose you are fortunate to have a conversation with another employer but feel the old job is still a better gig. In that case, you can always decline a new job if provided. Or, if you are still on the fence, and after careful consideration, you may use the offer as a salary negotiation point with your existing employer. Either way, having an interview every once and a while is a good thing. Interviewing is a learned skill that can atrophy with years of no use.

Begin Developing an Action Plan

You may find yourself thinking about changing jobs. Or you may be facing a new promotion. Either way, when faced with such opportunities, you should always give time to consider how best to grow your wealth and develop an action plan. In addition to taking the steps above, if you find yourself trying to answer the technical questions with a career change, be sure to review the linked checklists below.

The checklists linked below focus on reviewing the potential financial impacts of a promotion and a new job. Each list includes topics related to:

  • Cash Flow and Income

  • Employee Benefits

  • Retirement Plans and Deferred Compensation

  • Tax and Insurance Planning

With each item listed, I encourage you to consider the what-ifs of a career change (whether it be a promotion or new job) and its potential impact on your life and financial plan.

If you need independent advice on managing income, strategically planning for a career change, or determining how best to move through a job transition to align with your overall aspirations, please review the services I offer and place an introductory appointment on my calendar.

If you are a current Pursuit Planning and Investments client, securely upload any documents needing review to PreciseFP. I am happy to help proofread any resumes, conduct mock interviews, or support you with any career decisions you face. We can discuss this in our next scheduled check-in meeting, or feel free to place an appointment on my calendar.

Checklist: What Issues to Consider if Your Get a Promotion or Raise

Checklist: What Issues to Consider When Starting a New Job

Quote of the Week

"The measure of a country's greatness is its ability to retain compassion in time of crisis." - Thurgood Marshall


Have something on your mind? Schedule a free call with Nate.


Pursuit Planning and Investments, LLC is an Investment Adviser registered with the State of Oregon. All views, expressions, and opinions included in this communication are subject to change. This communication is not intended as an offer or solicitation to buy, hold or sell any financial instrument or investment advisory services. Any information provided has been obtained from sources considered reliable, but we do not guarantee the accuracy or the completeness of any description of securities, markets or developments mentioned. We may, from time to time, have a position in the securities mentioned and may execute transactions that may not be consistent with this communication's conclusions. Past results do not guarantee future results. Please contact us at 971-803-5948 if there is any change in your financial situation, needs, goals or objectives, or if you wish to initiate any restrictions on the management of the account or modify existing restrictions.  Additionally, we recommend you compare any account reports from PPI with the account statements from your Custodian.  Please notify us if you do not receive statements from your Custodian on at least a quarterly basis.  Our current disclosure brochure, Form ADV Part 2, is available for your review upon request, and on our website, This disclosure brochure, or a summary of material changes made, is also provided to our clients on an annual basis.

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