Financial Wellness

Stress is the #1 cause of all disease.  We often stress about things we can't control and sometimes about things we can.  One big stressor for many is financial instability. I have seen families destroyed over financial burden.  This is one aspect of overall wellness that you can have control over if you have the right team of experts guiding you. Here are the 15 financial rules to live by according to Mr. David Null, Financial Advisor and trusted source.

"Protection first!

  1. Protection should always be the first financial consideration. Before focusing on plans that will build your tomorrows, it is prudent to properly protect yourself against what might happen today.
  2. When looking for protection full replacement is important. The primary role of insurance is to fully replace the item being insured by maintaining coverage equal to the item’s complete appraised value. Therefore, your insurance should allow you to replace the whole house, the entire house, the real ring and your full economic or “human life” value.
  3. Lifetime protection is the way to go. Self-insuring rarely pays off. You should select insurance strategies that will properly protect you – no matter how long you live.
  4. Savings or investment returns are important in order to keep pace with the Real Cost of Living TM.
  5. Disciplined savings eliminates the need to take too much risk with you money.
  6. The impact of compounding taxes can be devastating to the performance of your savings and investments. Strategies and products exist that allow you to reduce your tax burden.*
  7. Build an ample supply of short term capital before implementing illiquid wealth building products.
  8. Pay off all short term debt as soon as possible.
  9. Certain assets create embedded taxes on your balance sheet that will be triggered upon sale or liquidation. You should be aware of this possibility and take steps to minimize the impact of these hidden taxes.*
  10. If your mortgage payment is too high, it could be crowding out your ability to protect properly, save for tomorrow, or maintain a balanced lifestyle. Ideally, your mortgage payment should not exceed 15% of your monthly gross income.
  11. Rather than automatically compounding interest and reinvesting dividends and realized capital gains into the same accounts, seek to use this cash flow to satisfy other financial opportunities.
  12. Update your insurance coverage as needed so that you have the maximum protection in every area – for the minimum cost.
  13. In order to absorb the Real Cost of Living TM, save at least 15% of gross income.
  14. Pay off credits cards each month, avoid taxes, and make sure monthly mortgage payment allows you to maintain overall financial balance.*
  15. After protecting properly, saving at least 15% of your gross income, and doing what you can to reduce the drag of debts and taxes, what’s left can be used for your current lifestyle. Creating a budget will help you stay on track and allow you to review your spending habits.”


If you would like a consult with Mr. Null, he can be reached at 914-388-9328 or

David Null discusses financial wellness with Dr. Aixa Goodrich: LISTEN NOW


*You should consult your tax or legal advisor regarding your individual situation.