During a chat with a good friend, she mentioned an acquaintance “who is so intentional.” It struck me then, and I have been thinking about it ever since. What did she mean? For those of you who know me, you won’t be surprised to know that once something gets lodged in my brain, it is quite difficult for me to move on until I have resolved the issue or researched the topic. As with many things in life, once you become aware of something, you see it more often and in many aspects of life. This time is no different. The word intention seems to be popping up everywhere.
I searched for the definition of “intentional” which basically says, “done on purpose.” Well, duh! Then, of course, the word ‘purpose’ jumped out at me. Without going too far down a rabbit hole, the notion of living with intention or purpose has become very important to me and hopefully, it will resonate with you.
There are two books that I have read and re-read over the past couple of years, along with many podcasts, blogs, and articles that broadly deal with the same themes. The books are “Younger Next Year (second edition)” by Chris Crowley and Harry S. Lodge and “Die with Zero” by Bill Perkins. The topics are very different, but the themes are similar. Live with intention. What you choose to do today will greatly affect your future so plan wisely. Many of the meetings I have with clients deal with so much more than investments, they often turn toward life and figuring out how to plan to create success and relieve anxiety.
A rate of return or an asset allocation viewed in isolation provides no guidance. That is precisely the reason the vast majority of people end up making colossal errors that permanently and adversely affect their future. Learning from and listening to clients helps form the bedrock of a good financial plan. Only then can a portfolio be constructed that will allow for future success.
Our firm goes to great lengths to create plans and investment portfolios to match our client’s goals and values. This process is very intentional. Our tagline, “Our Discipline, Your Freedom” goes to the very heart of everything we do. We cannot advise clients if we do not live and breathe the advice we give. I wrote an article back in March of 2020 that dealt with retirement. I revisited that piece to see what had changed and to see if I was indeed following my own advice. A few things have changed, but luckily the message is the same with a few additions. I try to no longer use the word retirement as I believe it sends the wrong message. Living with intention and purpose will lead you to the next chapter in your life.
That original conversation with my friend led me to evaluate myself, reread my 2020 piece and write this article that will become a bit personal, so please bear with me. My hope is my own reflection may spark something in you.
I am coming up on my 54th birthday, so I am firmly on the back half of my journey. So how can I be intentional and what can I do to give myself the best chance of success going forward?
· Family first. I do my best to be a good husband, father, son, and sibling. This is an ever-changing definition, and many times it feels like drinking from a firehose but attempting to keep this at the front of my mind seems to make other things fall into place. Learning from past mistakes, but not letting them define you, is a daily reminder that helps create a better path forward.
· Create a financial plan and stick to it. I developed my first plan in my twenties with very rough math and crude assumptions, then I set a goal for myself to attain by the age of thirty. Since then, I have been tweaking my plan and I ultimately ended up doing it for a living! Having a plan led me to make tough decisions along the way, eliminate roadblocks and at times completely change course.
· Focus on exercise and fitness. Well, I have run the gamut on this one. I have gone from one extreme to the other but have finally settled into a lifestyle that leans toward being active, exercising, and getting enough sleep. When I falter, and I often do, I find a way to motivate myself and get back on track. Right now, all I have to do is re-read or re-listen to “Younger Next Year” and I am off and running.
· Quit eating junk! This one is a battle, but the trend is in the right direction. Another great book is “How Not to Die” by Michael Greger. Avoid processed food and eat plenty of fresh fruits and vegetables. This is not hard on the surface; in fact, it is very easy! The only problem? It is hard to execute.
· Keep your brain active. Learn new things. Luckily my career keeps me on my toes and my brain active. I have a long list of things I want to do and learn—guitar, gardening, a second language, plant-based cooking, reading, travel, play bridge….
· Get out there and be a part of a community. Connect with people. As an introvert, this one can certainly be a challenge. Human beings are pack animals and being part of a community is not only important, but your life may depend on it. Outside of work, being on a non-profit board, joining a gym or a club, playing pickleball and volunteering are all things that have helped me.
· Reduce inflammation and stress. See above! Everything I have mentioned thus far reduces stress and inflammation.
Creating a plan with intention immediately relieves stress and creates a sense of accomplishment. A financial plan is only part of the puzzle, but it will go a long way to ensure the rest of the pieces fall into place. The goal should not be retirement. The goal is freedom; the ability to do what you want to do when you want to do it! If you don’t take care of yourself, you won’t be able to enjoy the fruits of your labor. Again, it seems so simple, but it can be very difficult to execute. The first step is creating a plan, with intention.