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At the start of this New Year, I’m
often asked what I think the best investment for 2005 will be.
Investors are always looking for financial guidance to steer them
through the uncertainty of the future. While it’s important to keep
up with trends and cycles in the markets, there’s one very important
investment that most people fail to make – investing in life.
In our pursuit of high-returns and increasing income, most of us
forget that money is merely a means to an end, not an end of itself.
Today’s retirees have patiently built their nest eggs with decades
of hard work and self-restraint. They knew they couldn’t live beyond
their means and still provide a secure retirement lifestyle. After
all those years of saving and sacrifice, they’ve entered their
golden years having met their financial goals.
But having met those financial goals, many find it hard to let go
and enjoy life. They’ve always dreamed of taking that European
vacation or going on a cruise. Others want to remodel their kitchen
or start a new hobby. Those with strong religious beliefs might
desire to go on a short-term mission or be more involved in charity
works here at home. But in every case, money concerns often hinder
us from pursuing our dreams.
When I talk to a new client, I always ask them about their life
goals. One of the most common financial conversations I have with
retirees goes something like this: “Jeff, we’ve always wanted to
travel. And now that Bob has retired, we finally have the time. But
I’m just afraid we can’t afford it.” Nine times out of ten, the
couple has more than enough set aside to follow their dreams. They
just needed the reassurance that it was OK.
While it is important to plan for the future and to spend wisely, it
is also important that you pursue your dreams while you still have
the time, ability and health to do so. I don’t have to look beyond
my own family for a poignant story to illustrate this point. My
father and step-mother had always planned on traveling---some day.
My dad, a type A if there ever was one, has kept busy pursuing
business development projects. Then about three years ago, my
step-mother developed heart problems and soon after, macular
degeneration started in one eye.
At one eye appointment, the eye doctor asked my step-mom what her
dreams were. She mentioned traveling up to Canada. The eye doctor
took my father aside and gave him a major wake-up call, telling him,
“Take her to Canada while she can still see it.” My dad began
planning their Banff vacation the next day.
Recently, macular degeneration has started in her ‘good’ eye and her
sight is failing fast. There are many plans and dreams that will
never be realized now. It’s simply too late. Who would have guessed
that life could change so quickly?
The same was true for my wife’s mother. Health problems had plagued
her for years, but she’d made it to retirement and looked forward to
spending more time in her garden, traveling, and spoiling her four
grandchildren. But only a year out of retirement, she was diagnosed
with breast cancer and passed away less then two years later, at the
young age of 63.
Don’t let life pass you by. Enjoy the fruits of your labors while
you can. Here at the beginning of 2005, take a moment to make a list
of one, two or three things that you want to pursue this year. Be
specific and make the goal doable. Then, as one famous ad says, just
do it!
Husbands, your wives have waited for years for some of their dreams
to come true. If you can’t think of ways to enjoy life, I guarantee
that your wife will have a list prepared and ready for you to
consider! I can’t think of a better way to start the New Year than
with a fresh, renewed commitment to enjoy our blessings and spend
more time with the ones we love.
If you would like free, clear, unbiased advice submit your questions to www.guardingyourwealth.com/askjeff.htm today, you’ll be glad you did.
Mr. Voudrie is a Certified Financial Planner, nationally syndicated
newspaper columnist and President of Legacy Planning Group, Inc., a
Private Wealth Management Firm in Johnson City, TN. He can be
reached toll-free at 1-877-827-1463 or at jeff@guardingyourwealth.com.
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