Change is interesting isn’t it? We just had a new election and really with all the money, noise and expectation it is much the same at the end. For some of us that is a positive and for some of us it is sad day. Yet no matter what your belief we have to play the game to win.
We should not be so euphoric that we forget our goals and not take the necessary steps to be financially prudent and put the probability of success on our side. Nor should we be so depressed that we go hide and decide it is hopeless and we cannot win. Somewhere between those two attitudes is the reality of good planning. Somewhere between those two misconceptions is a reality that if we do the right things and control what we can control, life will be better no matter what happens tomorrow. And really we don’t plan for what we know, we plan for the unknown. We make a strong plan, have diversity, create reserves, save more and set goals so that no matter what happens in the future the likelihood of success is better than if we do nothing. Doing nothing is a loser’s decision.
So we have to pick ourselves up, we have to stay motivated about the boring, mundane and insignificant planning decisions that should be made every day. Every financial decision you make gets you closer or further from the probability of success. The longer you coast the more likely you will fail in meeting your goals. The longer you ignore financial truth’s the more likely we will not have the choices we want at the time we need them.
So like the old Chinese proverb: when is the best time to plan? Probably 20 years ago! But the second-best time…… Today!
Wayne von Borstel, CLU, ChFC, CFP®, MSFS
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investment(s) may be appropriate for you, consult your financial advisor prior to investing.