Happy Valentine’s Day! I remember in elementary school picking out the right Valentines (Batman or Superman, I don’t think there was an Aquaman), thinking about who would get one and wishing about whom I might receive one from. Things got more serious in High School & College, and maybe books became more important (not!). Finally, now with Nani, I am a One Valentine Guy and have a great deal to be thankful for.
I meet regularly with retirement plans participants, and the 4th Quarter of 2018 was not a pretty picture for most investments. I tell the story of how, when we moved to Napa in 1991, we bought a house to fit our family. We had three little ones and a fourth on the way. (Hint: This is not the time to skimp by moving by yourselves. Get a mover!) Well for the next several years, the value of our house went down. However, I still had the same number of bedrooms and bathrooms I needed. Now almost 30 years later, our house has nearly tripled in value.
I use this story to point out to hold onto good investments in turbulent times, especially if you are not close to retirement. In your account, the dollar value may change but if you hold on, the number of units you own will remain the same. As the market improves, the value of your account will rise.
Valentine’s Day is all about love, and in a way, life insurance can be an expression of love. I learned early in my career that the purchase of life insurance is an emotional decision. You probably won’t see the benefit of the life insurance bought on your life. (I say probably because there are products which provide lifetime benefits, but that’s another discussion.) The decision to buy life insurance is to trade today’s dollars for a future benefit for those you choose to protect.
When you contribute to your savings, what do you think about? Tax benefits, investment earnings or what else you might be doing with the money. Why not consider the joy of being able to save? Perhaps think about that thing you are saving for: A vacation in a sunny place, days of no agenda, doing only what you love.
Sometimes we just need to take a different perspective and a more positive outlook. I don’t have to go to work every day. Each day I get the opportunity to talk to great people, share stories and help. Here’s to happiness!