Mini: Follow Through

Good morning - happy Monday!

I write this weekly piece because I have something to say. Today I don’t have a lot so won’t waste time, but I did want to share a thought I’ve been sitting on the last week.

Personal finance revolves around asking questions, planning, and developing fundamental principles around sound money management. How much money do I need for retirement? What happens if my car breaks down? Can you responsibly carry debt? There’s an infinite number of things that you can learn and plan for, but that doesn’t let you off the hook.

There’s going to come a time when things go nuclear. Sometimes it’s a slow degradation over time; sometimes all at once. The you know what hits the fan and the catastrophic event you planned for, or maybe didn’t, comes across your path.

Moments like these define the relationship we have with money. Do we stick to our principles or abandon our training?

The reason you make a plan is so that you don’t need to rely on your nuclear judgement when a catastrophe happens. You’re not thinking clearly and without knowing what you should do in a certain situation, you won’t do the right thing.

Before bad things happen, you need to know exactly what you’ll do in certain types of events. Then when they happen, there’s nothing to figure out. You do what you said you would. Follow through. Have a plan and execute when it’s time.

When it comes to your finances, you aren’t only as good as your plan. Everybody has a plan. Not everybody has the follow through.

Thanks for reading. I’ve had a few people reach out with individual questions and asking for general financial checkups. I’m always available and more than happy to offer help if it’s needed.

Talk next week

~Brock