The most common questions I get from clients and friends are –
Hey Jared- Is it okay that I do this?
Is it okay that I buy this?
Give it to me straight, if I do this am I going to be okay?
Are we doing enough to be okay?
In the end are we going to be okay?
Doesn’t matter the shape or form—the underlying question is always the same and my response is always the same.
Question: Am I going to be okay?
Answer: It all depends….
You might save enough money, but the market might work against you. You might not save enough, but the market might work for you. But to really know if you will be okay you have to begin by defining what being okay is to you.
You see, throughout my career I have seen people get to retirement and go through the traditional downsizing of home and spending. I have also seen the the complete opposite; I have seen people decide they actually want to upgrade their lifestyle!
Which will be you?
A typical response,
You know, I/we have never really thought about it….
Well,here’s the best way to start-
Visualize your future. Dream about it, talk about it and write it down!
Then quantify it!
Don’t be afraid of the numbers, embrace them!
Once you have a clear picture of your future, you can really sit down and figure out what it will take to make sure you will be Okay!
Do you see a fancy car or time with family in your future?
Do you see yourself traveling or staying local and hanging with grandkids?
Neither is wrong or right—
But now that you know what your future might entail, the secret is to start saving the necessary amount of money to get you to realize your dreams.
At that point you go from worrying about being okay to taking control of your future!
Lastly, understand that life is constantly evolving and it’s not uncommon for your expectations and desires to change. Don’t be afraid to pivot your plan and your savings. But as long as you always know what it means to be okay, I know you’ll be alright!
As always, you can consult with me to discuss your financial dreams.
Look for future posts on the best ways to save for your future and check out my previous post about 8 common investing mistakes people make.
Lastly click here to sign up for all great stuff The Art of Financial Planning has to offer!
Thanks for stopping by and I hope you achieve financial success!
