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 send your questions to
jeff@guardingyourwealth.com 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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