As humans we are continually making decisions. In the most basic terms, many come down to “Now or Later” type decisions. We live in a culture of immediacy, so “Now” weighs heavily on us. We rationalize that we can always do it “Later” to make up for our “Now’s”. However, not everything works in this manner. Finances and Health are two areas where too much of the “Now” decisions can have serious consequences to the “Later”. “Now” slowly builds plaque in our arteries, beats up our liver, increases our waistlines. “Now” prevents investing for the future car, home, college, retirement. “Now” creates unwanted debt to pay off. “Now” can affect enjoyment of retirement from both a financial and health perspective. It doesn’t feel like it, but the cumulative effect over the years starts to become visible evidence at some point in the future. That point in the future is far enough away it is easy to dismiss, yet close enough to later it is very difficult, if not impossible to make up for the years of “now” behavior.
Poor eating and exercise habits eventually have an effect. Poor financial habits (budgeting, saving, investing) have an effect. Poor maintenance of a car eventually can cause larger and more expensive problems. Deferred maintenance on a house is similar too. You likely can think of other salient examples.
We do things now because it feels good, tastes good, is fun, and is part of living. No one should give up totally on the “Now”. No one is asking you to take on a monastic life of self deprivation. However, there needs to be some balance acknowledging later exists, is going to happen, and needs preparation. It isn’t fun, it has no immediate reward, and frequently feels so small one thinks, “what difference will this make in the end”? But as stated earlier, small things tend to build and at some point, the future takes on a life of its own. Investments grow and compound, and at some point, your compounding is bigger than your first year’s contributions. The same applies to a healthy, balanced lifestyle. Strength and endurance often increases as one stays consistent to the path. Good food choices keep us healthy in ways we can’t always see until we go to the doctor. The occasional night out is no big deal because most of the time is a healthy lifestyle.
On the financial side, start with a financial plan. It can assess where you are, where you want to be, and assist in building a plan to achieve your goals and aspirations.
To quote a Nike ad from a while back, “Yesterday you said Tomorrow” (part of their huge “Just Do It” campaign. If there is one thing you will benefit doing now, it is a financial plan. Call us today to get to work on yours!
Jason Rasp
RASP Wealth Solutions, LLC is an SEC registered investment adviser. SEC registration does not constitute an endorsement of RASP Wealth Solutions, LLC by the SEC nor does it indicate that RASP Wealth Solutions, LLC has attained a particular level of skill or ability. This material prepared by RASP Wealth Solutions, LLC is for informational purposes only and is accurate as of the date it was prepared. It is not intended to serve as a substitute for personalized investment advice or as a recommendation or solicitation of any particular security, strategy or investment product. Advisory services are only offered to clients or prospective clients where RASP Wealth Solutions, LLC and its representatives are properly licensed or exempt from licensure. No advice may be rendered by RASP Wealth Solutions, LLC unless a client service agreement is in place. This material is not intended to serve as personalized tax and/or investment advice since the availability and effectiveness of any strategy is dependent upon your individual facts and circumstances. RASP Wealth Solutions, LLC is not an accounting firm. Please consult with your tax professional regarding your specific tax situation when determining if any of the mentioned strategies are right for you.