March 31, 2025 — Last year, a friend of mine suddenly found herself in financial freefall. She had done everything “right.” A hard worker, she had saved diligently throughout her career, had invested wisely and lived within her means. But life had other plans. A catastrophic illness to her husband quickly upended her world. Her emotional stress was amplified by some scary financial fears – loss of a significant portion of family income and unplanned medical costs not covered by insurance. The future that she and her spouse had worked so hard for now seemed at risk.
My friend’s situation is not in any way unique. I am sure we all know someone who has had to face an unanticipated financial crisis. And I am equally sure we have noticed that some people are markedly more successful in dealing with such crises than others. Some seem to be more resilient.
But what does that actually mean? Resilience in this context is not a character trait, like courage (although courage is part of it); nor is it simply an attitude, like optimism (although optimism is the foundation on which resilience is built). Resilience is how a tree is able to withstand a hurricane, how Thomas Edison, perhaps America’s greatest inventor, persevered through 10,000 failed attempts to create a practical electric light before finally succeeding. Resilience is nothing short of a superpower, and it is one that Finseca is dedicated to conferring on every American.
Financial Resilience: More Than Just A Buzz Word
Financial resilience gives you the ability to withstand and recover from financial shocks. What is more, financial resilience is not a luxury reserved for the wealthy; it is a fundamental necessity for individuals and families at every income level.
And, most importantly, financial resilience is not just about how much you have in the bank — it is about having a comprehensive, holistic plan that ensures security and stability today and tomorrow and that empowers you to navigate life’s inevitable uncertainties. In short, it’s not just about planning for a rainy day, it is about preparing for the storms you cannot see coming.
Every generation seems to believe that it is living through the times of greatest disruption and uncertainty. As humans we seem to be hard-wired to perceive reality that way. Nevertheless, the past few years make a strong case for our world being particularly fraught with violent change. We have travelled through what feels like the perfect storm of disruption — from a global pandemic to rising inflation, and from supply chain chaos to the stunning, sudden impact of AI and other transformative technologies. And frankly, things have not gotten any smoother. My takeaway is that the world is unpredictable and will only get more so. But your financial security shouldn’t be. And in our everchanging world, financial resilience is more than just a buzzword. It is a lifeline.
The Benefits Of A Holistic Plan
At Finseca we believe that creating a holistic plan is the single best way to build strong financial resilience. Traditional approaches, like focusing solely on investment returns or short-term financial goals, are no longer sufficient. What is needed is big-picture thinking, that considers the full spectrum of an individual’s financial life, from budgeting and debt management to risk mitigation and long-term planning — and the ability to connect the dots and see how all of aspects of a financial plan translate into freedom, security and peace of mind.
This is what a financial advisor can provide.
Traditionally, people have tended to think of financial advisors as stock pickers or investment managers. In reality, good financial advisors are so much more. They provide not just knowledge but the wisdom, perspective and strategy that no amount of Google searching or DIY investing can match.
We have all come to rely on our phone’s GPS to get us to our destination. Consider that a financial advisor is like your own personal financial GPS, able to tell you where you are, how you got there, and most importantly, the best possible route to where you want to go. Your advisor is your navigator, knowing the terrain and the traffic flow, able to predict delays, guiding you past obstacles, alerting you to speed traps, helping in every way to make your journey to financial security as smooth as possible.
When challenges arise, as they inevitably will, your advisor is your financial first responder, confronting your challenges with courage and expertise, protecting you and yours from danger, guiding you through difficult situations, rescuing you if necessary.
Financial Security Begins With Financial Literacy
One thing that makes the role of the financial advisor even more critical is the startling fact that so many Americans do not consider themselves financially literate. According to a study from the Global Financial Literacy Excellence Center, only slightly more than half of US adults say that they are financially literate. And there are real-world consequences, with the National Financial Educators Council estimating that this illiteracy cost Americans annually an average of $1819 per person in 2022. While governments and educational institutions have obvious roles to play in improving this state of affairs, at Finseca we believe that financial professionals are key to improving this statistic.
As noted earlier, skilled financial advisors do far more than simply manage investments; they serve as educators, planners and advocates, helping their clients navigate a complex financial system, avoid costly pitfalls and achieve their desired long-term goals.
In fact, if we think of financial advisors as educators, the holistic plan that they develop with a client is essentially a dynamic and comprehensive syllabus for life-long financial learning. You don’t have to take my word for it though, independent research from Ernst and Young proves it.
The Time To Start Planning Was Yesterday
Finseca stands for Financial Security for All, and we take our mission very seriously. In a 2022 white paper, EY estimated that in just five short years, by 2030, there will be a $240 trillion retirement savings gap and a $160 trillion protection gap. We see those dire statistics not as inevitabilities but as challenges. We are fiercely determined to help Americans at all income levels, at every stage of their lives, have the secure financial futures they deserve.
Building financial resilience in an era of economic uncertainty is not just a goal, it is a necessity. It is not just an individual responsibility; it is a societal and generational imperative.
The best time to start planning for financial resilience was yesterday. The second best time is today. You can’t afford to wait for a crisis to act. The time to act is now.
Media Contact
Maggie Seidel – (c) 202-718-7774 | mseidel@akappfinseca-org
About Finseca
At Finseca, we know that financial security improves people’s lives and protects their livelihoods and future wellbeing. We are rising to the challenge of increasing financial security for all. Finseca represents the men and women of the financial security profession who dedicate themselves to delivering financial security to their clients every day.
