Tuesday, May 4th, 2021
An uptick in your spending, hopefully
In almost every client review meeting I ask a very simple question, how is cash flow? I’m really just trying to get a sense of inflows versus outflows because that’s very important in retirement. Over the last year, most people have told me that cash flow is fine, mainly because folks have said they don’t go anywhere or do anything to spend money.
I’ve had more conversations with clients over the last couple of months who have told me that they are excited to be planning trips again. This makes me extremely happy! Some of you have already started venturing out to vacation destinations and many others have trips planned very soon.
I had a client recently tell me about a trip they had planned out west. This was a trip that they put off a year ago and are very excited about their upcoming trip in June. They told me something that I’ve heard several times but I thought it was worth mentioning. They said “what we’ve done in the last year has not been living, and we’re ready to live again”. I ABSOLUTELY LOVE THIS!
Life is too short to sit around doing nothing. I do understand that there are people who are homebodies and enjoy being at home. Travel may not interest these folks. They like doing other things. Whatever makes you happy!
Happiness is not being cooped up inside all day listening to the news 4 or 5 hours per day. Unfortunately, I’ve talked to a lot of people who do this and they are not as happy as people who fill their minds with other things.
As you know, I have found absolute joy in playing pickleball. It’s fantastic! One of the reasons it is great is that it is something that can be played by people of all ages! I see grandparents playing with their grandkids and they tell me it’s one of the few ways they can spend meaningful time with their grandkids without them being bored or on a phone. How cool is that!
Now that more folks are comfortable with getting out and about, I can honestly say I am actually looking forward to my clients spending more money this year! I am not talking about spending money on “stuff”, but on experiences with the people you love the most.
I’ve had 2 clients put in pools recently and 2 others discuss buying an RV so they can hit the road and travel. Now that’s living! If you’ve got a “wild hair” you’d like to discuss, I’ll be happy to talk through the pros and cons with you before you make any decisions.
Thank you for the trust you’ve placed in me and enjoy the rest of your week!