A Planner's Diary in July
What Currency Really Matters?
June and July have been wonderfully full. My husband and I spent the past two months with family, first in Pennsylvania then in Montana. We shared dinners with multiple generations. We played with nieces and nephews. Hiked with our parents. And all sat squished together, talking over an outdoor wood fire until it petered out after midnight.
I also attended the funeral of my uncle, who died very suddenly. He was and will always be a beloved person. His loss is immense. It also brought together many other people whom I love, and I may not have seen for another year or more under normal circumstances. Special people tend to bring others together in this way.
And so, the currency I'm spending this summer has been time. And it is precious.
It can feel as though everything is oriented toward optimization, and this summer has been the perfect antidote to that. Sure, optimization has its place in building the right investment portfolio or making the wisest long-term tax strategy. By nature, an important aspect of planning is measurement; returns, ratios, effective tax rates, savings rates, withdrawal rates, net worth. I acknowledge that numbers matter. Plans matter. Precision matters.
But metrics and returns are not the arbiters of a life well lived. And if we're not careful, our obsession with measurement can crowd out the very things we were optimizing for in the first place.
In a world where everything from our diet, to exercise, to sleep is optimizable, I want to make a case for un-optimized experiences to balance the scale. An unhurried and decadent dinner. A late night. A slow and quiet walk with no particular goal or destination. A call with an old friend that goes so long, half your to-do list must wait until tomorrow.
There are many things we cannot control. But a few we can. We can recognize worthwhile trade-offs and invest more time and energy into the people and things we love. We can remember that the whole reason we work, save, and plan is to enjoy a beautiful life, as uniquely defined by each of us.
As a planner, I know I'm doing my best work when a client reaches this kind of peace. When they find their version of enough and can redirect that energy toward enjoying the most special kind of currency: time.
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Now, onto a bit of fun.
Planning insights: Earlier this month, I wrote about the art of replacing your paycheck during retirement. Whether you’re 10 years or 10 months away from retirement, it’s powerful to have a roadmap to consider ahead this major life transition.
On the page: I like to read books that I *hope* will make me smarter and show up better in my business and relationships. But this month, I've taken a detour to tackle Tolstoy's Anna Karenina. And at 900 pages, it is certainly the opposite of an optimized pursuit. I'm a third of the way through, and only (lots of) time will tell whether I'll land in the camp of critics who call it the greatest novel ever written…
On the pod: I enjoyed Ezra Klein's recent conversation with novelist Gary Shteyngart. Although best known for having written a celebrated dystopian novel, Gary turns out to be a devoted student of life's finer pleasures, including food, wine, beauty, and the unhurried art of paying attention. Listening to how his mind works felt like the perfect inspiration to do exactly what this summer has been asking of me: slow down and enjoy the small, beautiful things.
On repeat: On a whim, my husband and I caught a concert by a band called Josiah and the Bonnevilles while visiting family in Pennsylvania. I always get a little sentimental this time of year, as it was over Fourth of July weekend that my husband proposed to me. Since this concert, I've had their song Basic Channels on repeat. It is a song about building a wonderfully simple, sweet life with your favorite person. It felt like the right soundtrack for this month and the special place it will always hold in my heart.
Until next time,
Claire
This material is intended for educational purposes only. You should always consult a financial, tax, or legal professional familiar with your unique circumstances before making any financial decisions. Nothing in this material constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns. Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost. Advisory Services offered through Avise Financial Cooperative Inc, a Registered Investment Adviser with the SEC. Registration of an investment adviser does not imply a certain level of skill or training.
