Your Finances and the Future

By: Justin Louis, CFP®

Starting a new year, and even a new decade, tends to nudge us to think about our future self, something people probably do not do often enough! As financial consultants, we naturally take the opportunity to point out that the finances of your future self should be considered as well. No doubt, many Americans have been doing this over the last few weeks.  If we conduct a brief survey of personal finance headlines across major media channels, it could leave one with a sense of uncertainty, regret, and maybe even fear. One major news source I’m looking at right now, has a personal finance page full of stories about political candidates, the national debt, today’s stock movements, social security mistakes to avoid, and my personal favorite: the current Powerball jackpot and how to protect your windfall if you win. Yikes – I’m getting anxious myself just looking at these! Unsurprisingly, little of this content is going to help anyone map out a path to achieve financial and life goals.

Granted, you are likely not the target audience or consumer of this kind of content and have more sophisticated sources of information. Good for you. Nevertheless, we know that uncertainty has a way of creeping into the back of our minds when we dwell on our wealth and the future. While this is perfectly normal human experience, we believe reviewing your finances can and should give you a sense of clarity, confidence, and even pride. We want you to know the answers to things like:

• How secure is my retirement?
• How will I pay for healthcare in retirement?
• What could derail my plan, or what are my “unknown unknowns?”
• What is the appropriate risk level for my plan and my personality?
• What should I expect from my investments over the long-term?
• How can I mitigate the risk of life’s uncertainty for my family?

We think if you take the time to answer these kinds of questions, and others like them, you’ll be well rewarded for the time spent. At the end of his excellent book, “Think and Grow Rich,” Napoleon Hill outlines “57 alibis” which people use to explain away their failure to achieve goals. Things like: “IF I had been given a chance,” “IF I were only younger,” and “IF I didn’t have so many worries.” The list goes on with innocuous sounding and maybe even valid statements that are tempting to hide behind, but it’s our hope that you will regularly engage in thoughtful planning so no alibis will be needed at the end of this year or the end of the decade!

Justin Louis is an client advisor in Charlotte, NC. Justin works with clients to synchronize their financial plan and investment portfolio in order to build a secure financial future. Click here to learn more about Justin and how he can help you.

Carolinas Investment Consulting is not affiliated with any of the websites linked in this commentary. Nothing contained herein constitutes financial, legal, tax, or other advice. The views and opinions expressed in this article are those of the author and do not necessarily reflect the official policy or position of Carolinas Investment Consulting. The information published herein is provided for informational purposes only, and does not constitute an offer, solicitation or recommendation to sell or an offer to buy securities, investment products or investment advisory services. All information, views, opinions and estimates are subject to change or correction without notice. The appropriateness of an investment or strategy will depend on an investor’s circumstances and objectives. These opinions may not fit to your financial status, risk and return preferences. Past performance is not indicative of future returns.