“Personal finance is more personal than it is finance.” - Tim Maurer
I've always loved that quote because it captures an often overlooked aspect of managing your money...See more below 👇
And thanks, as always, for reading.
Happy Birthday, Me-Ma 🎂🎉
Today, February 3rd, is my Me-Ma's birthday.
In fact, she would have been 101 years old today.
And we probably would have celebrated with her at The Varsity.
Sadly, she passed away just a couple of weeks ago on January 21st.
She was an amazing lady, and I couldn't have dreamed of a better grandmother.
She was loved by everyone who knew her and she'll be missed but never forgotten.
Assignment: Today, tell someone just how much they mean to you. And why. You'll both be glad you did!
What Type of Retiree Are You?
Thanks to Mike (one of this newsletter's readers) for sharing this article:
There are six types of retirees — which are you? — www.marketwatch.com Everyone transitions to retirement differently.
Later in this week's letter, I'll touch on the problems that arise when you compare yourself to others.
However, many clients - based on the questions they ask - do seem to want to know how they "stack up" relative to others as they prepare for and transition into retirement.
The short article above offers six categories of retirees, which is one way to think about the retirement path you're on.
Personally, since I'm not retired and don't really plan to retire in the traditional sense, I would probably use "The Continuer" category for myself.
How about you? Which category best describes where you are, or where you're going?
Hit reply and let me know.
Do You Have the Right Goals?
By now, you might have guessed that the heading above asks the wrong question.
If they're your goals, there is no right or wrong.
Again, it's personal -- more personal than finance, in fact.
For example, see this "master list of goals."
While this list may prompt some expanded thinking on your part, none of these goals belong in your plan unless they're goals that are important to you.
Many of your goals will change and evolve over time, and that's how it should be.
But don't collect other peoples' goals.
And be willing to let go of a goal if it makes sense to do so.
It's your life.
And you only get one shot at making it the best you can...
The Hidden Danger ☠️
Hopefully you can see the merit of applying a deeply personal filter to your money planning and decisions.
Theodore Roosevelt said,
"Comparison is the thief of joy."
And Mark Twain once said,
"Comparison is the death of joy."
Whether you think of "comparison" as a burglar or a murderer, neither sounds like a great choice.
To carry this idea further, I encourage you to read this article:
Martha Graham on the Hidden Danger of Comparing Yourself to Others — jamesclear.com Read this article to hear the famous advice of Martha Graham on how to avoid the hidden danger of comparing yourself to other people.
In the article above, writer James Clear references the work and words of choreographer Martha Graham.
I think it provides a nice perspective on the tempting, yet problematic, habit of comparing ourselves to others.
And this idea of "keeping your eyes on your own paper" has another benefit...
It also helps you focus more squarely on the things within your control and less on externalities over which you have little, if any, control.
Or as Steve Jobs once said,
Your time is limited, so don't waste it living someone else's life. Don't be trapped by dogma - which is living with the results of other people's thinking. Don't let the noise of others' opinions drown out your own inner voice.
If you'd like some help bringing more "you" to your financial plan, that's one of the things I love most about my work. ❤️
So hit reply and let's talk about it.
Until next Wednesday,
Russ
Postscript: This week's indie track comes from a band called Guards. Here's their song "Silver Lining." 🎵 What music are you listening to these days? Hit reply and send me a link...
Why indie music? Please read the Postscript of Issue #2 for context.