As the devastation of an inch (maybe 1.5”) of snow fell over Atlanta this week, you may have observed one of three different types of people. The first is “The Prepper.” This guy has lived for this moment for the past several years, storing canned goods to feed him for a year, a separate fuel tank, and he just happens to have an old snowplow to attach to his truck. Then there is “The Planner.” She looked at the weather the week ahead, made a slightly larger trip to Costco last weekend, had some firewood delivered, and enjoyed her day not sitting in traffic, but by the fireplace. Lastly, we come to the “The Procrastinator.” He confidently set out that morning towards Walmart when he realized that he did not have anything for dinner that night and assumed by the thick sheet of ice on the roads that Uber Eats was not going to make it to his house. After sliding his way to Walmart and back, he had some time to reflect on his lack of planning and how he was REALLY close to hitting that mailbox, as he boiled some macaroni and cheese for the kids’ dinner.
This crazy, but somewhat accurate illustration of what we saw this week is not too far off from how many people approach their finances. One terrific example is how people approach their emergency fund. You can certainly set aside far too much money, which could be earning a higher return if that money was put to better use, or you could do the other extreme and continue to say, “Yes, I do need to start that account,” but never actually do it. We want to help guide you in the direction of the person that can clearly look ahead and make the decision to sacrifice a little time and spending money today to set up a safety net for when the weather gets bad without going overboard with your preparation.
If you are looking for answers as to what a personal plan would look like to keep you on the road for your future, contact your advisor today.