All of us at Wealth Management Strategies, Inc. hope you had a pleasant holiday season and a happy new year. As you might have guessed, we are sharing in the early-January tradition along with so many others, by setting goals for 2017. These personal and professional objectives are meant to be the foundation for our efforts this year. In these early weeks of January though, we often overlook the reality that staying on track with our resolutions could prove to be a major challenge and might become too much to bear alone, over the course of the year.
As it turns out, this struggle is neither unique nor unbeatable. New York Times columnist, Carl Richards published, ‘Life Will Zig When We Expect It to Zag,’ on his blog in August, 2013. He reinforced the necessity for investors to be flexible throughout the pursuit of a goal, because life will invariably get in the way. He contends that when this happens, and it will happen, as goal-setters, we are the only ones capable of refocusing back to our objective. To put this into context, let’s discuss the goal of retirement in 2017.
For the many of you who have planned your retirement with us, you know the critical importance of timing as a factor for your overall financial success in your post-employment years. The difference between retiring in 2008 versus 2011, for example, could have meant running out of money 5 to 7 years sooner. What if the timing of your 2017 retirement becomes as unfavorable as one beginning in 2008? Does that mean your plans for retirement are entirely derailed? Unlikely. Instead, you will pursue at least one of the following three alternatives:
1) Retire Later
2) Save More
3) Spend Less
This is just one example from a near-infinite list of possibilities, but it beautifully illustrates our point. We want (and sometimes insist) that you plan for your future. No matter the objective, we believe that without a timeline and value for your goals, success will be the output of nothing more than luck. Even with sufficient planning however, you might stumble at points along your timeline. Family, money, or priorities, might get in the way, but with the right support, you will be able to refocus and accomplish your goals.
Until now, we’ve addressed the pursuit of your goals singularly, but for ones that require money and planning to achieve, you’re not on the trail alone. The advisors of Wealth Management Strategies, Inc. are here to support you from the planning phase, past any adversity that may arise, then through to your success. As always, if you ever have any questions or concerns, please feel free to call or schedule a visit.
Cheers to a Happy, Healthy, and Prosperous 2017!