We face countless obstacles in our daily lives, whether that’s at the office or at home. But there are ways to better prepare for these roadblocks in life, particularly when it comes to finances. In terms of wealth management, obstacles are the thoughts or ideas people have about finances that prevent them from making better financial choices, which in turn prevents them from living life the way they wish for now and achieving financial independence when they want—or, if they are already independent, from maintaining that independence and continuing to grow their wealth. More specifically, there are two types of obstacles: the practical and the emotional.

Emotional obstacles are feelings and beliefs that can prevent people from living the life they wish for or achieving and maintaining financial independence, even if they are progressing with the practical obstacles. The most notable emotional obstacle is fear, and since this can be irrational and not rooted in reality, this roadblock can be the hardest to beat. There are often other emotional obstacles, and they can be numerous. However, the amount of practical obstacles is finite. There are only four:

• No specific goals in dollar terms
• No written document
• No process to achieve goals
• No road map

These obstacles, while requiring time and effort to solve, can be tackled and overcome. Do not let these obstructions prevent you from living the life you wish for now and in the future, from being financially independent in the time frame you wish, and from staying financially independent. Instead, sit down with a financial expert and someone you trust to determine the best way to surmount these obstacles.

For more information on vanquishing the practical — and emotional — obstacles that stand in the way of your financial dreams, visit tswealth.com.