I would guess it probably doesn’t. In fact, many times you probably find beauty in sun sets, I do.
Why doesn’t it scare you?
Because you know that this is a repeating process, and as adults we understand it’s just the rotation of the earth that causes the “sun to set.” We learned as children that morning comes without fail.
Let’s use the setting of the sun as an analogy in how we can think about recessions.
Somewhat like the path of the sun across the sky rising and falling, recessions are preceded and followed by periods of economic growth. One cannot happen without the other.
If we understand recessions are going to come and then go, we shouldn’t be overly concerned about the next recession - assuming your financial house in order. Some areas that should be thoroughly reviewed:
Assuming everything is in order, let’s look at the glass half full and look past the next recession with our eye on the growth period that will follow the next recession.
Just as the sun will rise after the sunset that preceded it, there will be another prosperous period that follows the next recession.
-Paul R. Rossi, CFA
We all need to make a living. However, making a living shouldn’t be the goal, the goal should be to make a life.
Making a life is being mindful of our limited time by living the way you want to live. It’s living life on your terms.
Would you like own your own business? Travel more? Spend more time with family and friends? Write a novel? Become an expert in another field of study?
With the media’s obsession on the economy, oil prices, interest rates, and stock price movements, one key question that gets completely overlooked is, “Are you trying to make a living or a life?”
Live the Life You Want.
Ask any business owner their top reasons they run their own business and you will likely agree with all of them: control your destiny; choose the people you work with; take on the risk; reap the rewards; challenge yourself; follow your passion; get things done faster; personally connect with clients; and feel pride in something you own.
How Do You Want to Live Your Life?
We help clients build the life that they want to live. Often one’s money and values are not properly aligned. A great financial advisor helps point out those discrepancies and highlight ways money can match your values. Some seem to believe that financial planning involves only planning the finances of our lives. Many planners cut right to the planning without exploring the “why” behind the money. We identify our client’s deepest values which makes it easier to talk about important life changes, some easy and some hard. It’s important we talk about values and goals because it’s pointless for us to make financial planning recommendations if we don’t know what’s important to our clients and how they want to live.
Know precisely what you want in life. We help clients have a clear path.
It’s only knowing where you currently are and the journey you’d like to experience before a well-designed road map and be constructed. A comprehensive financial plan deals a lot with finances, but it’s more than that, it’s tool to help you Maximize Your Return on Life.
I believe “you can do anything you want; you just can’t do everything you want.”
-Paul R. Rossi, CFA
We recently celebrated Labor Day and it’s a good time to reflect on why we work and what we derive from it. The ideal answer should be that it gives your life energy and meaning. If it doesn’t, you might want to consider how to move in that direction.
Labor Day became a federal holiday in 1894 and now also marks the unofficial end of summer. Summer trips wind down, students leave for college, football season gears up and we anticipate the cooler days of fall with enthusiasm. This is especially true if you are in a hot area of the country, and who doesn’t appreciate a 3-day weekend?
There is now a common understanding that meaningful work is a major component of human well-being. Interestingly, it does not matter whether the work is paid, volunteer or pro- bono, or you are working hard at home raising children.
What We Do Matters
Researchers at the Gallup organization have been exploring the subject for decades. A not-so-startling finding: Our happiness and feelings of well-being are a function of liking what we do each day.
Tom Rath and Jim Harter explain in their book, Well Being: The Five Essential Elements, “…at a fundamental level, we all need something to do, and ideally something to look forward to, when we wake up each day. What you spend your day doing each day shapes your identity, whether you are a student, parent, volunteer, or retiree…” Yet only 20% gave a strong “yes” when Gallup researchers asked, “Do you like what you do each day?” If 80% are unhappy with daily activities, the rest of their life is likely to be out of whack and it’s likely your well-being will suffer.
If you are to successfully live your life, your health, relationships, social connections, your sense of place, the fact that you are where you belong in terms of where you live, work, and interact with friends and people, as well as your spiritual home, are all key components of well-being.
When you reinforce your talent with knowledge and skill, you have strength. A talent is a naturally recurring pattern of thought, feeling or behavior productively applied. A skill is the ability to move through the fundamental steps of a task. Knowledge is what we know. A strength, then, is a powerful, productive combination of talent, skill, and knowledge. When you are doing anything from strength, you feel it, you know it, and you love it.
If you want to recalibrate and infuse your life with new energy, a revitalized sense of purpose, and a sense of comprehensive well-being, remember that:
What you do matters. You matter. Build your strengths.
-Paul R. Rossi, CFA
Picture: SR-71 spy plane, it was the United States most advanced and fastest flying plane in the world, literally flying faster than a speeding bullet. It carried no weapons and was designed in an era when engineers used a slide rule. The SR-71's sole purpose was to keep the United States safe by being able to capture photos of our enemies' movements. The SR-71 was shot at many times, but was never shot down, as it was designed and flown by people who had an unbelievable sense of purpose.