Benjamin Franklin made famous the quote, “By failing to prepare, you are preparing to fail.” You, being a client of Verisail, realize the truth in this statement, which is why you chose to prepare for your future by creating a plan and working toward that end. But what do you do when faced with Allen Saunder’s quote that was popularized by John Lennon, “Life is what happens when you’re busy making other plans?” When you have committed time, energy, and money to create and put into action a plan, it can be very difficult for you to pivot when life forces you to change directions. The change in direction of your plan may be initiated by an aging parent who needs attention now, a child who is not able to be independent by the time you’d planned, or a savings account that you’d intended for one goal is more needed for another purpose. The emotional and mental attachment that has built as you worked toward your original plan can be very difficult to let go of, even if the new plan is a good thing. Remaining flexible and viewing your life plan and financial plan as a starting point on your journey through life will allow you to pivot and bend when required, without breaking. This is one of the many reasons we view financial planning as an ongoing relationship, because your plan, goals, and life situation will change as life goes on. Know that we are here to help you identify and work toward your new goals as life asks you to pivot.
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20 Second Advisor: Preparing to Pivot
