“Flexibility is the key to dealing with life’s ambiguity.” – Natalie Myhalnytska
Early last week, I decided not to do the Half Ironman. My back was not the best and I was to do a cookout for Elliott and a few of his friends as a late birthday celebration. On Friday morning my back felt good and I did not have much in my schedule because I had planned on being out of town that day. I decided to do the Half Ironman in Wilmington, NC.
Problem was that I had to check in my bike on Friday. I could not do a Saturday check in. I also committed to grilling steaks for Elliott and his friends. What to do and how does this relate to retirement planning?? Let me share with you a story…
The Palmetto tree is the State Tree for South Carolina. Reason is that a main battle of the Revolutionary War took place in Charleston Harbor in 1776. Our Fort Moultrie was built with Palmetto trees. The trees were flexible and did not shatter when hit with British cannonballs. The fort held and the rest is history.
I decided to be flexible like a Palmetto tree. I drove to Wilmington, dropped off my bike, came back to Myrtle Beach, spent time with Elliott for his birthday and woke up at 4am Saturday to drive to Wrightsville Beach, NC to complete the Half Ironman.
But again, how does this relate to retirement planning??
Be flexible like a Palmetto tree.
You will never know what exactly can happen in your life. How the rules can change. What kinds of health issues you may have to endure. How taxes may change. What could happen to financial markets.
Some of the things you can do:
Have a cash cushion
Pay off high interest debt
Have your estate documents in order
Have your beneficiaries named properly on your retirement accounts
Have your investments allocated to increase the chances of achieving your goals
Most important: ENJOY YOUR LIFE, otherwise, what is the point?
Do not get caught up in every little detail. Those details will change. You may have a 5, 10, 20, or 30 year plan, but guess what — that may change. Remember: be flexible and don’t overcook the steaks.
On the lighter side, I finished a few Retire Happy podcasts. Working on uploading them to all of the podcast apps now. Will keep you posted when they are ready.
Hope all is well with you and your family,
Finger Financial Five – 5 points in 5 minutes or less – is to provide you with a weekly shot of useful financial information. My intention is to share principles, so that you will have more clarity and peace, that help you make better financial decisions.
Investment advice offered through Stratos Wealth Advisors, LLC, a registered investment advisor; DBA Riverbend Wealth Management.
This content is developed from sources believed to be providing accurate information and provided by Riverbend Wealth Management. The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. Stratos Wealth Partners and its affiliates do not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.