Broker Check

Just One Thing

February 06, 2018

According to the OFFICIAL Harvest Financial Marketing plan for 2018, I am supposed to talk about Insuring Your Love. This involves protecting those who you love against life’s difficulties.  You watch newlywed couples start off on the adventure without a care in the world.  Perhaps they add a house with a mortgage, and how would that be paid for if one of them lost their job or died?  Children come along with the responsibility (& cost) to raise them: day-to-day costs, education and launching costs.

Simple enough to think about by itself.

However, I find myself writing this amidst a major sell off in the stock market: Somewhere between 5-10% over the last few days.  Well, that adds a new wrinkle to the plan.  Maybe I need to talk about that.  One of the talking heads said something that raised my eyebrows.  In short, ‘I am less concerned with the change in rate of return than I am with the rate of savings.’  Basically, the market goes up and down, but if you are getting ready to retire and only have $5,000 saved, the market swings are secondary to not being prepared.  If the market went up 100% and you were invested solely in that ‘market’ now you have $10,000 – not going far in retirement.

I saw a recent question about how to have a successful marriage.

After 61 years of life, 35 years of marriage, and 24 years as a financial advisor, it really comes down to ONE thing for me. Do something each and every day to make it better. You cannot starve yourself out of bad eating habits.  There is NO diamond big enough to make up for years of neglect, and rarely is there a lottery or inheritance that pulls you out of financial forgetfulness / procrastination.

If you want to DIY (do it yourself), put a big red X on the day you will begin. Figure out where you are and where you want to go, and then put a big red X on the next day you are going to work on it.

Want some help? There are books, websites, and advisors to help, but the rule remains: Do something; make an appointment, go to the library, do what your advisor suggested. 

REMINDER – Next Wednesday (February 14) is Valentine’s Day. Remember those you love with a thoughtful reminder: flowers, candy, or a meeting with a life insurance agent to put a plan into place to protect you and your family. OK, the insurance agent isn’t as fun, but maybe he or she will supply the candy?!