I Talked To This Author And Economist About How "Holistic Wealth" Can Make Us More Resilient

“After a tragedy, people begin to realize that they don’t want to define themselves only in terms of their résumés and a title bestowed upon them by an employer."

As the last couple of years have shown, life can be really unpredictable. And when it comes to our money, unpredictability often feels super scary.

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In her book Holistic Wealth, author Keisha Blair shares how she stayed resilient in the face of an unexpected tragedy and how building up holistic wealth makes her life feel richly lived. To learn more about her experience and the financial lessons her story has to offer, I recently talked with Keisha. Here's what she had to say:

Out of the blue, Keisha’s husband met an untimely death when he was 34 years old and she was 31. He suffered a medical mystery just eight weeks after she gave birth to their second child.

Instagram: @keishaoblair

His death was completely unanticipated, and everything changed for her in an instant. But that wasn’t her first encounter with adversity. “My life is a testament to the truth that we can overcome the chaos of adversity. I am a maternal near-miss survivor — I nearly died in childbirth with my first child.”

After the death of her husband, she wrote a heartfelt and vulnerable article, “40 Life Lessons I Learned After My Husband’s Death,” as therapy for herself, to express her feelings over the loss of her husband. Her words really hit a nerve with a lot of people, and the article went viral.

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Then, that article turned into an opportunity to create a book, Holistic Wealth, to dive deeper into the emotions of life and give readers more advice on how to recover from life’s challenges and disruptions. 

Before her husband's passing, Keisha was career-driven and focused on building wealth for the future. She worked as an economist and worked on federal budgets and some of the Canadian Prime Minister’s top projects. But what she learned after her husband's death was that life is about so much more than career. Instead, she began to focus on creating holistic wealth.

She defines holistic wealth as, “Wealth that not only comprises your net worth and material possessions, but also your physical health, your emotional state and having a life purpose. All these ingredients come together to give you a wholeness and make you more resilient.”

Instagram: @keishaoblair

She says that a "holistic wealth portfolio" includes four main areas: relationships and giving, physical and spiritual, life purpose, and financial independence. And having a plan for all four will ensure you can bounce back from any setback. 

Now she has updated her book for the COVID-19 era to talk about finding meaning and purpose during this difficult time. The book is composed of five parts: Intentional Life Purpose, Financial Independence, Physical and Spiritual Nourishment, Goodwill and Strong Relationships, and Applying Holistic Wealth.

Catalyst Books / Via keishablair.com

There is also a companion workbook for people who want to take guided actions to overcome fear and setbacks and thrive no matter what comes your way. Keisha says that we need all the pillars of wealth to live a meaningful life, and the workbook can help anyone.

Keisha makes it a point in the book to show readers how to live with holistic wealth so they aren't defined by a job.

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“It’s not just about money in this life,” she says. It's easy to get wrapped up in chasing the next promotion and doing the best you can at work. “After a tragedy, people begin to realize that they don’t want to define themselves only in terms of their résumés and a title bestowed upon them by an employer."  

One of her biggest takeaways is that the word "no" means no — and it can be a powerful tool. “'No' should be used to preserve your stores of energy," says Keisha.

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After she was widowed, she started to say “no” more to gain a sense of self, time management, and purpose. She realized the importance of saying no because her husband didn't. He was at work the day he died. He was a financial manager, and a line of staff was relying on him that day to check their work. Even though he had minor pain, he kept working and decided to visit the doctor after his workday ended. Unfortunately, he didn't make it to the hospital in enough time. 

Keisha says, "Sometimes saying no may save your family, may save your marriage, may save your life — depending on the context." Now that she's an entrepreneur, saying no is of even more importance. Keisha explains, "Now, as an entrepreneur, I need to constantly remind myself that saying no is OK. I’ve become very selective about the clients that we take on. In entrepreneurship, you naturally wear a lot of hats, so saying no is imperative to keeping yourself sane. I’ve learned that saying no is actually advantageous and necessary in order to see real success."

Additionally, Keisha shared that she has always believed in having “a well-planned future,” which allowed her the financial freedom to take time to grieve after losing her husband. So she encourages women, and especially women of color, to overcome any mental blocks they may have and start making financial plans.

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Keisha explains that, "One of the major blocks to financial freedom is our money mindset. Ancestral money blocks can also influence our mindset. These are essentially false beliefs about money passed down from our ancestors that prevent us from achieving financial success." 

In addition, "Comparing yourself to others, equating net worth to self-worth, and a scarcity mindset are all things that prevent us from reaching financial freedom." Unplanned disruptions happen, and holistic wealth will help you be prepared by being financially free. 

Holistic wealth isn’t just about financial wealth, but financial independence is a key component. Keisha encourages all women to invest and work toward their future. She and her husband had a complete financial plan and a portfolio of investments, plus protections like life insurance to sustain them should something happen. 

Additionally, Keisha says we should be prepared for two large financial setbacks per decade. This way, when the unexpected happens, you'll be ready.

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Financially, she recommends budgeting to get out of debt and build savings and investments. "Paying off debts requires a financial strategy," says Keisha. She also stresses the importance of having an emergency fund and life insurance coverage.

Women of color especially need to consider their holistic wealth because of the wage gap, the effects of COVID-19, and the fact that it's harder for women to get ahead.

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Keisha explains: "Black women have shouldered the burden of an entire community ravaged by the effects of COVID-19. Studies show that biologically, Black women are on average 7.5 years older than white women because of the effects of racism. At the Institute on Holistic Wealth, we’ve incorporated a module on anti-racism in the Certified Holistic Wealth™ Consultant Program to help empower women, and especially women of color. The Holistic Wealth Generation is demanding that their voices be heard."

Keisha’s last piece of advice is to think about how you can be resilient in the face of adversity and use that power to craft your holistic wealth portfolio so you can bounce back, no matter what you are faced with.

What do you think about the concept of holistic wealth? Share your thoughts in the comments.

And for more stories about life and money, check out the rest of our personal finance posts.