TIME IS MONEY - WITH A BONUS

Neal A. Deutsch, CFP^®

Published in Rivertown Journal, October 2010

Life comes at us fast. From childhood to our last years, we all experience an array of life-changing events: reaching adulthood, the college experience, our first love, marriage, becoming a parent, losing a loved one, etc. These are the game-changers of life: events that are so impactful that we tend to see life in a totally different way and light. Some life events are somewhat predictable: growing up and growing older are but a few of those that we all may enter into. The losing of a loved one however is not an event we plan, but unfortunately experience. Each of us, with our limited time on this planet will experience some series of life changing events that will change the paradigm of our life. Our views, our feelings, and our very fabric of existence…and then we grow older and never seem to have enough time to accomplish that which we really intended... or do we?

"Planning" is a word used frequently for those of us who feel that we have a handle on things (yeah, right) and are organized. Financial and estate planning, retirement planning, family planning, event planning, investment planning, menu planning, vacation planning: all done with good intentions and with a hopeful outlook for a successful outcome. But did you ever stop to realize that you think in a box? Let's look at that box- we'll call it the "box of life." We cram into it all the "planning events" we can with the time we have to do all our planning. What would happen, however, if we took all that planning contained in the "box of life" and ripped it open? Obliterated it? Thought outside the box (hey... ok- I didn't make that one up).

Get a paper and pen. Go ahead... I'll wait. Don't cheat- you really need a paper and pen for this one. Got it? OK- now draw a box at the top and put your age into it (yes, your REAL age!) Now draw a line to the middle of the page, and put the age at which you believe you will live to, the age you think you'll cash in the chips. Let's not get morbid- we're just doing this as an exercise and to get you thinking. Once you have settled on your departure age, and are comfortable with it add 20 to it. Now you have a new age of demise with an additional 20 years added to it- what will you do with this new, instantaneous 20 extra years to live?

• You could volunteer your time to a local organization of your choice. This of all that wisdom you accumulated throughout your years of business and life- think of all that you could pass on to others to make this world a better place.


• You could start a charitable foundation to benefit countless people you may have never met but who will remember you long after you are gone.


• You could donate your accumulated assets, a life insurance policy, highly appreciated securities, or things you own but don't use that others less fortunate than you severely need.


• You could spend more time with your family and experience countless events and love that you never knew you would experience had you not had the additional 20 years.


• You could make the world a better place by sharing that which you have learned but have yet to teach and share.

Back to the exercise. Before reading further, compile your list. Now, here's the kicker- after compiling your list of things you would do if you had the additional 20 years, start on it today. Why wait. Is there a better time than the present to spend time with your family, or share your wisdom? Is anytime better than now to help benefit others less fortunate than you? Why wait to work on your estate or financial plan to involve those that could get a leg up on life with your help? If I've got you thinking- great! If you're serious on doing this exercise, give me a call- I've done it dozens of times and the outcomes are a life-changer. We'll work on it together and believe me, you won't be sorry- the world and your loved ones will thank you!

If hearing from me once a month isn’t enough, come visit me in our new blog site at www.chestnutblog.com.  If you think I’ve got pearls of wisdom here…you ain’t read nothin’ yet! See you there!

Neal A. Deutsch is a Certified Financial Planner^™  & Registered Securities Principal, offering securities through First Allied Securities, Inc., member FINRA/SIPC.  Neal is President of Chestnut Investment Group in Suffern, NY, helping people with financial planning since 1984. Please feel free to call Neal at (845)369-0016 or email him with your questions at neald@chestnutinvestment.com.

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