From the Archives of 2016… updated for the “Coronavirus Life Experience”.
Money and Therapy. Two things that people may love or hate. However, among other things, money and therapy help.
Recently I finished a must-read book for all ages – wealthy or building wealth, married or single. Anyone who wants to have a “life” someday… or even have a life NOW. The book is called The Number* and was written in 2006 by Lee Eisenberg (long time editor-in-chief of Esquire magazine) but reads like he wrote it yesterday.
Here are some of the titles of the chapters:
- Welcome To “Numberland”
- Debt Warp
- Alone at Sea
- Covering Your Assets (nice play on words)
- Night Sweats
- Deep Breathing
- Bottom Lines
All of these topics could be covered in conversations with friends, or by reading The Number or explored in a therapy session… or all 3! I recommend all 3 (and the therapy session could be with your financial adviser – because a real financial adviser makes this conversation mandatory.)
Why does this matter NOW (in 2021)??
It makes no difference if you are:
- 23 years old and starting your first job,
- 35 and single,
- 35 and married and in the thick of building a family and working,
- or 60 and contemplating IF and WHEN you will retire.
If anything during the pandemic, there has been ample time for learning more about HOW you want to live your LIFE. The author of the book makes you laugh, cry and most important THINK. I don’t want to spoil it for you because I highly suggest reading the book. There are several really deep conclusions, as the author travelled nationally and internationally speaking with a wide array of “experts” about their lives.
One of the biggest conclusions from the book for me, in my own words, was that –
- Nothing in life worth having comes easily (or comes for free).
- The process of living your life is not always do-it-yourself or operating on autopilot.
- Every “next stage” of life takes some version of a PLAN, whether it be written in a notebook, on a whiteboard or simply on a napkin.
At some point earlier in the game take the time to consult with a proven expert, spend the time and jump into the conversation about how much you SPEND today and – more critical – ON WHAT you spend it. What do you most ENJOY spending money on?? Kids? Grandkids? Family? Yourself? Your business? Charity?
What is your timeline for spending the money? Is it even realistic that you can continue to spend the amount you spend today? (As in, will you be in danger of running out of money someday?) What are your plans for your LIFE? Who do you love the most? What do you most love doing?
That should be enough to think about for one weekend – although it is meant to take you your whole life to determine (the sooner the better).
*Used with express permission from the author. Eisenberg, Lee, The Number, New York, NY; Free Press, 2006. Print.
Thank you for reading, stay safe and TGIF!