Teshuvah, Tefillah and Tzedakah: The Spiritual Side of Financial Planning

On Rosh Hashanah and Yom Kippur, we say that teshuvah, tefillah and tzedakah—return, prayer and charitable giving—can transform the severity of the decree.

These words can also provide a meaningful framework for the spiritual side of financial planning.

As a financial planner, I spend a great deal of time thinking about numbers: savings, investments, income, expenses and retirement projections. But the numbers are rarely what matter most.

What matters is what those numbers allow us to do.

Hashem has provided us with so many opportunities: the ability to earn a living, receive an education, support our families, build communities and perform mitzvot. Financial planning helps us think carefully about how we will use those opportunities.

It is not only about accumulating more money or earning a higher investment return. It is about recognizing our blessings, correcting past mistakes and creating a plan to use what Hashem has given us to make a difference.

Teshuvah: Looking Back and Choosing Differently

Teshuvah means returning. It begins with honestly reviewing the past year and asking what we could do differently.

Financially, perhaps we spent without paying enough attention. Maybe we delayed saving, avoided an important conversation or postponed a decision we knew we needed to make.

Perhaps there is a subscription we no longer use, a retirement account we have not reviewed or a stack of financial statements we keep meaning to organize. Maybe we intended to speak with our spouse about a financial concern, update our estate documents or........

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