If the last year reminded me of anything valuable, it’s that we get our energy from having something to look forward to, and that life just can’t wait.
Surely, we’re not out of the tunnel yet, but we do see a light at the end. And seeing that light might make you start to think about what you want to make happen in 2021.
Regardless of where you are in life, there’s almost always something big to look forward to.
It might be planning a wedding (either yours, or your children’s).
And if you passed that milestone in recent years, it might be getting ready for your new roommate... You know, the adorable one that arrives 9 months later.
For others, a new home may be on your radar because if we’re all under “house arrest”, we might as well enjoy ourselves, right?
It could also be planning a second edition of your honeymoon, because at this point, you may have deferred enough vacation time (and money) to take another one once it’s safe.
Of course, we don’t know exactly when this pandemic will be behind us, and that’s especially so while we’re in the thick of it right now.
If you’ve got something in mind that you’re looking forward to, it’s probably because you can’t do it right now, and that’s why it’s an ideal time to start planning ahead. In particular, to think about the financial implications of your plans to make sure you’re set up for success.
Having something to look forward to is the most constructive thing we can do when we can’t do “it”, and candidly, there isn’t much else to do.
This isn’t a “useful distraction,” either, it’s a head start.
Plus – whatever you’ve got planned, keep in mind that anyone else who had been thinking about it for the past 12 months is going to be ready to take action right along with you.
And when it’s time, all of them will suddenly want to do it all at once, not spread evenly across the next twelve months.
From that standpoint, think of it like a handful of jockeys locked behind a starting gate.
That’s exactly why one of the common sentiments among my clients is that they value having a plan in place.
That way when you’re ready to buy a house, have that wedding, or take that vacation, you know that your money is in order to support it.
Why?
Because when you’re ready, you want to be ready to hit the ground running.
Have questions about taking your financial life to the next level? Let’s talk.
This blog was written by Jeremy Bohne, Principal & Founder of Paceline Wealth Management. Paceline is a fee-only investment advisor serving clients in the Boston area, and on a remote basis throughout the country. Paceline specializes in helping tech and biotech executives, physicians, and those seeking financial planning services.