I guess it’s been long enough since I finished carving the turkey and enjoying leftover dressing. Now it’s time to stock up on treats and prepare for the yearly visit from our local contingent of pint-sized ghosts and goblins. And get ready to rake up the leaves and even dig out the snow shovel. Sigh.
The changing of the seasons is often a good time to bring things into perspective and prepare for the season ahead. While it might be more challenging to barbecue burgers or take a dip in the pool there are still things I look forward to as fall turns to winter. Going skating, building snowmen, and drawing pictures on icy car windows are just a few examples.
While we can have some fun thinking about the family activities we have to look forward to I also think it’s important for us to loo back on the year that’s been and the year to come.
While getting caught up in the moment can be fun when we’re jumping into a pile of freshly raked leaves, it’s not the best way to look at our personal finances. There you need a longer perspective and an appreciation for the influence of other types of seasons.
News of the last year has been dominated by war in Ukraine and inflation at home. And COVID almost “ALMOST” feels like a forgotten memory. And time before the pandemic? What was that like?
As an old folk-pop song from the 60s used to remind us, there is “a time to every purpose under heaven”. The Byrds tried to offer light in a dark time in American and Canadian history. The Vietnam War, the Cuban Missile Crisis and the October Missile Crisis filled television screens then just as COVID, the war in Ukraine and debate about the “Freedom Convoy” fill our twitter feed now.
And you can add the impact of increasing real estate costs, skyrocketing interest rates, and unpredictable gas prices to the mix if you want.
The important thing to keep in mind is that these too shall pass. Each of these events will have an impact (some bigger than others) but the world we are looking at five years from now will be addressing an entirely different set of problems, concerns and opportunities. Oh yeah, do you remember when Bitcoin was going to transform the world and make us all rich instantaneously? Well...
The important thing to remember is that we have to try and make our plans without getting overwhelmed by current events and current fads.
When you open the business section you can see stories about escalating rents, volatile real estate, the likelihood of recession, and how much avocados are going to cost this winter. But that is not the news you need to be focusing on as you build your financial nest egg. Whether you are saving to buy a house, send the kids to college, or better enjoy your golden year, you need to keep the end goal in mind.
The best way to do that is with the help and understanding of a financial advisor who can help you understand what will best fill your particular needs. Your timeline, your comfort with financial risk and your end goal all play in a role in putting together the portfolio that is right for you.
I have spent my professional life helping my clients build the financial plan that is right for them. I work hard to listen to your needs and help you find your goal. If that sounds like something you’ve been looking for send me an email at [email protected] or give me a call at (519) 279-0186
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