Are you one of those people out there who is exhorting our current President to Act Presidential? If you are, and even if you are not, perhaps you should first look into the mirror and see if that person staring back at you also Acts Presidential. Because, you know the saying about those who live in glass houses.

State of Mind

This discussion is topical because it is President’s Week. Acting “presidential” means different things to different people. But most can agree that it is a way of dealing with issues. It means taking control of a situation and acting with benevolence toward all involved. It means keeping your wits about you while others are losing theirs. It means getting others to agree with your wishes because of the strength of your character and your ability to persuade others of the merits of your thoughts or actions.

Don’t Be a Victim

Acting “presidential” does not mean accepting your fate without trying to do something about it. Specific to my field of financial planning, let’s take the example of someone who is behind financially and is falling deeper in the hole of debt. While it may in your mind not be on a par with the actions of those whose heads are sculpted into Mount Rushmore, if you are being slowly crushed by a mountain of debt, you can act presidential by right away cutting out expenses you don’t absolutely need and spend only what you make. The next step would be to spend less than you make and use that leftover to start to eat away at your debt. Take charge of your life and your financial situation! Pretty much every financial advice book ever written is some version of that imperative.

Move

Here is another take: Are taxes crushing you because you live in a high-tax state and you no longer get the full benefit of State and Local Tax (SALT) deduction, and your state is raising taxes on you? Unless you are completely tied to your home and your state, and even then, you can Act Presidential and move to a different state, one with lower state taxes. Chances are this lower-tax state will have higher economic growth than the place you just left, as well as possibly warmer or better weather. Our ancestors back in the day uprooted from other continents and countries in order to get here, and without the benefit of nearly-supersonic air travel, and without really knowing what they would face. Nobody who arrived in the US ahead of them texted photos back to the old country to show what a great time they are having here in this great land. With that in mind, is moving say from the Northeast to Florida, Texas, or any number of other low-tax states such a really big ask? Don’t feel like you have grown roots in some place or situation that is causing you not to get ahead. Take charge, even if it means taking a chance.

IMO

There are any number of examples of turnaround stories of people who dug themselves out of a rut and set themselves straight. All of these stories started with someone deciding to Act Presidential and take charge of their own financial situation. And, once you decide to Act Presidential, re-elect yourself and continue to do so. At least you will feel better about yourself, and that is very important!