20/20 Money

How's your vision when it comes to your money?

May 03, 2023

Happy Hump Day!

Starting in high school, my eyes started getting tired and I began to experience blurry distance vision.

I was diagnosed as “nearsighted” with mild astigmatism.

Soon after I was wearing eye glasses pretty much full-time through my college years and beyond.

Nearsightedness is also referred to as “myopia.”

I could see things close up, but things at a distance were blurry.

It was easier for my eyes to focus on things right in front of me.

In the late 90s I underwent LASIK surgery and just like that… no more glasses.

I was seeing clearly again.

20/20 vision.

Today, I have glasses in the car if I’m driving at night as my eyes tend to get tired more quickly in that situation.

Many people also deal with “hyperopia” or farsightedness.

This is a condition where people can see clearly at a distance but have trouble seeing things up close.

They can more easily focus on and see things at a distance.

And I believe we can also be nearsighted or farsighted when it comes to our money…

I’m sure you know people who are so focused on the future (farsighted) that they have trouble enjoying their money today.

They aren’t able or willing to “indulge” today because they’re so focused on tomorrow.

This often comes with labels like:

Thrifty
Frugal
Cheap
FIRE (“Financial Independence Retire Early”)

While I practice and preach the idea of “living below your means” it can easily become a slippery slope where your focus on - or fear of - the future prevents you from truly enjoying your money in the present.

Of course, the other extreme is no better.

If you have “financial myopia” and are too focused on the here and now, you might be jeopardizing your financial future.

The “I’ll deal with tomorrow… tomorrow” attitude can create a whole different set of issues.

And while I’m no eye doctor, I recommend avoiding extremes and working to get financial clarity which allows you to be well prepared for an uncertain future while enjoying your financial resources each day along your life’s journey.

Just like an optometrist can show you the impact of different lenses on your vision, so too can financial planning help you look at both your today and tomorrow through different lenses.

I’ve used the “guardrails” analogy before and I still think it’s a good one. The 2 guardrails I help keep my clients between are:

You don’t want to live your life in fear of running out of money, and
You don’t want to die on a mattress stuffed full of money you could have spent.

Of course, while we can apply financial analysis to quantify your personal guardrails, or the difference between your financial nearsightedness or farsightedness, there’s more to it than just dollars and sense (not a typo).

Your personal and financial history plays an important - and often unconscious - role in how you approach your financial planning.

And regardless of the clarity and acuity with which your present financial plan was developed, things will still get blurry from time to time.

Might be worth getting your financial vision checked and making sure you’re seeing clearly - today, tomorrow, and many years into your future.

Ideally, your vision - and your money - is well-balanced between the near and the far.

Are you seeing 20/20 when it comes to your money?

The Gift of Sight

With all the vision references above, I feel I ought to share a great organization I’ve been involved with for many years. They’re based in Atlanta and are directly involved in the gift of sight in Georgia and beyond. Check them out:

Georgia Eye Bank

Dangers of AI

While artificial intelligence (AI) has been in the news a lot lately, it’s not all positive. I’ve been playing around with some AI tools like ChatGPT and will likely have more to share on this in the future, but please beware of how AI is being used to attempt to scam you (or your loved ones) out of their money: