Live in the moment and provide for the future

Having that magnum of special Cabernet you won in a golf game in 2000 and saved to drink when you hit sixty stolen in a burglary; having those special Bavarian crystal wine glasses you inherited from your grandmother and kept for very special occasions only, smashed when your cleaning lady moved the display cabinet. Even worse, planning and looking forward to that special month-long road trip with your loved one when you retire, but then it never happens because of a fatal stabbing. We all have these stories of having postponed our special pleasures for one day in the future, but then they never happen.

To live only in this moment without considering the future at all, is a very romantic concept but not a very wise one. To postpone everything you yearn for today because it makes more sense to do it later, is too pragmatic. We have to live our lives in the knowledge that everything can change at any moment. We can lose our health, lose our wealth, lose our loved ones, or lose our opportunities in the blink of an eye; or we can go on living for a very long time without any setbacks.

We all have our own ways of dealing with these two opposing sides of life, but one thing we all have to do on a regular basis is think it through and make changes when we realize things are out of balance. On the financial front we at JWR have always maintained that doing a cash flow analysis based on your lifestyle and life expectancy can at least provide you with an understanding of how your money can provide for your lifestyle choices. We have mentioned before that not enjoying life at all, just to die wealthy,  is such a waste of your time on this earth. But, running out of money when you are old and fragile, is truly heartbreaking. Please make sure you get the balance right!

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