blog post 4/28/2016

Having Had and Having

A famous expression has it that, “It is better to have loved and lost than never to have loved at all.” I believe this to be true. However, I also believe that it is even better to have loved and not to have lost. Yet, this is not always possible. People grow apart. People get divorced. People die. I suspect that with some effort on our part, we might be able to strengthen our love relationships.

Now, let’s look at money and investing. Is it better to have invested and lost than never to have invested at all? Here, I believe, the circumstances best dictate our answer. For example, if we invested money that we otherwise would have wasted on some consumer items we have no real need for, than perhaps money that is invested and partially lost is better than some junk we end up leaving in our garage like the weed whacker we never use or the clothes hangar of an exercise bicycle that sits in our basements. But I digress.

Is it better to have had money and lost it, in general terms, than never to have had money? Well, let’s look at this. Let’s say you have a really good business, a stellar job or a successful professional career. You make a really good salary. You want for nothing. You buy whatever you feel like, year after year. There is just one catch. In this example, you do not adequately plan and invest for the future.

One day, for whatever reason, you no longer have your business, job or career. The money stops rolling in. Now is the time you must rely on past planning and investments to maintain the lifestyle you once had. But you have not adequately planned, so now you must make big adjustments to your lifestyle.

When you are 19 and living in a college dormitory, roughing it and eating instant noodles might not seem too bad. However, after a lifetime of good living, suddenly having to cut back on everything is likely to make you feel miserable. At that moment you might wish you had done some proper planning and saving. At that moment you might wish you never had the experience of truly having, because it makes going without seem so much harder.

Money, like love, leaves lots under our control. When it comes to our personal relationships we can work to be better listeners and more forgiving of what we perceive to be other people’s errors. I think we all probably have some room for improvement in this area. I know I do. This can help protect us against loving and having lost.

And when it comes to our money, we can adequately plan and save for the future so that when we are at an older age we do not sit around miserable, lamenting a lack of resources that could have been prevented.

Plan, save, take action.

Scott McGimpsey April 28th , 2016

This material was prepared by Scott McGimpsey and does not necessarily represent the views of the presenting party, nor their affiliates. All information is believed to be from reliable sources, however, we make no representation as to its completeness or accuracy. Neither Summit Brokerage Services Inc. nor Scott McGimpsey is engaged in rendering legal, accounting, or other professionally services. If such assistance is needed, the reader is advised to engage the services of a competent professional. This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any federal, state, or municipal tax penalty. Moreover, a diversified portfolio does not assure a profit or assure protection against loss in a declining market. UNIFIED PLANNING GROUP is an independent firm with securities offered through Summit Brokerage Services Inc., Member FINRA, SIPC