Our first post of 2019 is one that isn’t directly related to Financial Planning, however, we still think it’s a piece worth reading as we personally review our past year and form resolutions for our new year. Gatesnotes is always an interesting read and the questions that Bill Gates asks himself as he reflects on his life in 2018 are the same questions that we hope drive your decisions around money. Did I devote enough time to family? Did I develop new friendships and deepen old ones? These types of questions, while not obviously money-related, can be woven into a financial plan by dedicating resources to goals that help fulfill these values. For example, if you’d like to spend more time with family who are scattered across the US, maybe it’s time to consider adding to your budget an expense for annually renting a vacation home to attract those family members to one meeting place. Of course you may need to offset this budget item by cutting an expense, but hopefully that expense wasn’t fulfilling one of your highest values to begin with.
Either way, a meaningful exercise to think through as we settle into 2019.
Every Christmas when I was a kid, my parents would send out a card with an update on what the family was up to. Dad’s law firm is growing, Mom’s volunteer work is going strong, the girls are doing well in school, Bill is a handful. Some people think it is corny, but I like the tradition. These days, at the end of each year, I still enjoy taking stock of my work and personal life. What was I excited about? What could I have done better? I thought I would share a few of these thoughts as 2018 concludes. One thing that occurs to me is that the questions I am asking myself... Read More >