We’ve all been there: the roof leaks, a tire blows, or the kids’ fun gets a little too ambitious and suddenly there’s a hole in the wall. An unexpected expense is stressful—especially when your account won’t cover it. The quick fix? It’s usually a credit card swipe, which only makes the purchase more expensive once interest enters the picture.
Chassity Hood, CFP, APMA, Financial Advisor, with OsborneKlein, a private wealth advisory practice of Ameriprise Financial Services LLC, said her team encourages clients to flip their mindset from taking on debt to meet a goal to investing to meet a goal.
“We help clients understand that it’s easier to grow your money toward a goal than it is to take on credit card debt,” she said.
To help make the concept tangible, Hood uses everyday examples.
“When you pay a phone bill, you don’t ever get that money back,” she explained. “Paying yourself first and treating it like a non-negotiable bill steadily builds savings. When an emergency happens and you already have the money set aside, it feels incredible—because you’re prepared.”
It’s not just surprises that require future dollars. Many of us want to plan for vacations, a new car, or even big-ticket milestones like kids’ educations and weddings, and Hood helps clients map out short-term goals (three to five years), as well as longer-term ones and invest for both.
Saving is important, but investing is essential for building wealth.
“You won’t find interest rates at a bank or credit union that match what you’ll get in the market,” said Hood. Analysts reviewing rolling 10-year returns for the S&P 500, including dividends reinvested, have found positive returns in roughly 96% of those periods.
While many Americans save for retirement, far fewer save for expenses in 10-15 years, which can lead to overspending and debt. Planning for multiple goals can feel overwhelming, but working with a financial planner provides reassurance.
Some people assume they need to be wealthy to work with a financial planner. “That’s not the case,” said Hood. “You can start very small. Financial planning isn’t the same as managing assets—we educate you and help you work toward your goals.”
Starting early is ideal, but if your thirties are in the rearview, don’t despair. “That’s a great time to work with a professional and review your finances,” Hood explained. “Just by getting started, you’ll be better off. It adds up fast.”
The magic is compounding interest—your money earns money and that money earns more. Over time, this snowballs, turning small, consistent contributions into something substantial.
It’s one thing to hear about compounding but another to see how quickly it adds up. Visit Investor.gov. Under “Financial Tools and Calculators,” the “Compounding Interest Calculator,” lets you plug in different variables—initial investment, monthly contributions, interest rates—to see how each factor shapes your outcome.
“The main thing is just to start,” Hood said.
A simple entry point is your employer’s 401(k) plan.
“People sometimes think they can only put in the amount the company matches,” Hood said. “But you can put in as much as the IRS allows.”
At a minimum, capture the full match. Otherwise, you’re leaving money on the table.
The key takeaway: Whether you’re beginning or building, having a plan and a professional who has your best interests in mind, educates you on risks, and understands money mindset makes a difference.
“Working with a financial planner helps you recognize the emotional blind spots you have with your money”, said Hood. “A huge advantage is that when the market is volatile, we can go through the numbers with you and remind you to take the long view. We’ve already planned for short-term market fluctuations.”
Ultimately, investing isn’t about starting big or predicting the market. It’s about putting yourself in a stronger position for the future. Planning and consistency—even if it isn’t perfect—can transform how you handle money and how it works for you. Whether you’re saving for next year or 10 years from now, the most powerful move is simply beginning.
Investment Primer
The right investment mix depends on your goals, time horizon, and risk tolerance.
- Stocks: Growth potential, higher volatility
- Bonds: Lower risk, steady returns
- Mutual Funds/ETFs: Built-in diversification
- Real Estate: Income + long-term appreciation
- Private or Public REITs: Funds that invest in real estate. Public REITs trade like stocks; private ones are less liquid and are higher risk
Kirsetin Morello is a Michigan-based author, speaker, writer, travel-lover, wife and grateful mom of three boys. Read more about her at www.KirsetinMorello.com.
This article originally appeared in the Spring ’26 issue of West Michigan Woman.
