If You Wait For A Crisis, It Isn't A Plan

  

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I have had several people contact me and ask me for financial planning help when a life-changing event has suddenly moved up from being 2 years out to being 2 months out.

For whatever reasons, they have put off the real planning they could have done.  I am sure that their reasons are legitimate: all of us are very busy people.  There are heavy demands on our time, and whenever we are really off duty, we don’t want to think about heavy responsibilities.  When we are tired, we don’t want to balance the checkbook or record our spending.  When we are busy, we can’t seem to dedicate the energy it takes to do some real planning.

While all this is understandable, it’s a fact that life waits for no one . 

Here’s the real problem: Now that the crisis has arrived, they have to make decisions in a hurry, the same decisions that they have put off for years.  And all of us hate to make rushed decisions! 

No matter what the analysis indicates, it is very difficult emotionally for any of us to feel good about a rushed decision.  We want time to think about it, to be sure we’re doing the right things and thinking about it the right way.  But now we are out of time because we wasted our time by not doing the planning sooner.

Here’s the lesson: if you want to avoid having to make rushed decisions in the midst of a life-changing event or crisis, make plans now.  Adjust those plans annually.  Become familiar with the paperwork you’ll have to complete.  Know the time it takes to get things processed. 

Only then will you be confident that you’re making the right decisions, not rushed decisions, and you’ll feel good about it too, because you’ll be following a plan.  

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Have great week!

Mike