How Much Is Enough?

American Flags, SSgt Joseph McKe, United States Air Force

Memorial Day Reflections

During your Memorial Day weekend, please consider those who have paid the highest price serving and defending our Nation.

How Much Is Enough?

Retirement is perhaps the single greatest topic of discussion in financial planning.  Nearly everyone looks forward to a day when the normal pressures of life will fade away, and they'll have an opportunity to slow down and enjoy the fruits of their labor.  When I discuss retirement with Clients, they usually ask some version of these three questions:

1. Will I ever have enough?
2. Will it always be enough?
3. How much is enough?

Interestingly, you cannot answer the first two questions until you fully answer the third.  But answering the third question requires more reflection than calculation.  Why?

For as much as people talk about retirement, I find that many people don't spend enough time thinking about retirement.  Few have spent serious time contemplating what they will do, where they will live, and what a normal daily routine will look like.  What most people imagine is a time of endless golf or daily poolside naps.  Some imagine spending time with grandchildren or tending to their garden.  But what do you do with the other 10-12 hours in the day or the other 5 days of the week?

This is where the need to reflect comes in.  As you plan for retirement, you have to ask yourself:

1. What will provide me with the most fulfillment?  
2. Do I want a life of leisure or legacy?
3. Am I more focused on what I'm retiring from (commute, pressures, boss), or am I more focused what I'm retiring to (volunteering, serving, personal growth)?
4. What will I miss or lack by not going to work every day?
5. Does my spouse have the same concept of retirement

These reflective questions will help you understand what you can expect in retirement, and also determine what you will do with your time.  Once that is settled (or at least nearly so), then you'll be able to refine your financial needs.

The word that I use to bring focus to this entire process is purpose.  We have to determine what provides purpose in our daily activities, personal interests, and the needs of others.  Then we can begin to understand what you'll need financially to support this new lifestyle.  In other words, now we can answer the question, "How much is enough?"

So give this some thought.  Consider what it will take to determine your purpose, and then schedule yourself for a conversation.  I want to hear your thoughts, plans and financial needs.  Together, we can build a plan to get you ready for a fully purposeful retirement.

Laissez les bons temps rouler

Informed Investor

I’ve assembled a few recent articles that I found interesting and informative. I also added a little light diversion.

• Investing:  This speech from 1988 is one of the best descriptions of investment policy and how to be a superior client.
• Inflation:  Are you worried about inflation?  Some people are, others are not.  This article puts it in a balanced light.
• Capital Gains Taxes: Possible changes in tax policy could further drive ETF usage.
• ETF:  What is an Exchange Traded Fund and how can it fit into your investment portfolio?
• College Planning:  This article offers insights from a Mom who recently finished the college application / decision process with her twin daughters.
• Let's Talk About Money:  How to talk retirement savings with your spouse.  Couples can avoid friction during volatile markets with conversations in advance
• Independence Has a Price?  The Declaration of Independence is the next hot IPO.
• Freedom Is Not Free:  A complete list of the 7,013 casualties of Enduring Freedom, Operation Iraqi Freedom and Operation New Dawn as confirmed by U.S. Central Command.

Mary's Recipe Corner

Enjoy one of my wife's all-time favorite recipes:  

Grandma Titus’ Oatmeal Raisin Cookies 

My daughter, uncle, and I share a deep love for these cookies, and my grandmother made them every time I visited. I think the secret to these cookies is the use of the hot raisin water, which I have never seen in any other recipe. These come out wonderfully soft... and VERY hard to walk away from!

1 cup raisins
1 tsp soda
1/2 tsp salt
1 tsp cinnamon
1/8 tsp cloves
1/4 tsp nutmeg
1/2 cup white sugar
1/2 cup brown sugar
1 cup butter, softened (original recipe calls for 1 cup shortening)
2 eggs
2 cups old fashioned oats
2 cups flour
1 tsp vanilla
Optional- 1 cup pecans or walnuts, chopped

Put the cup of raisins in a pan and cover with water. Bring to a simmer and continue simmering for 20 minutes, adding more water if necessary to keep raisins just covered.

While raisins are simmering, cream the sugars and butter. Add the eggs, one at a time, and then stir in the oatmeal, flour and vanilla.

When the raisins are done, remove 5 TBSP of hot raisin water. To the 5 TBSPs of hot raisin water stir in the soda (it will bubble when you do this), spices and salt. Add this mixture to the dough. Drain any remaining water from the raisins and stir in along with the optional nuts. Scoop dough balls unto ungreased cookie sheet. Chill the cookie dough balls 30 minutes in refrigerator. Bake 375 10-15 min. Don’t under bake these. Let cool a few minutes and remove to cooling rack. Let the scarfing begin! 😉

For Art's Sake

As some of you may know, I'm an art enthusiast.  If you grow up in New Orleans you learn to appreciate art (and food and music and parades, etc.), so it seems appropriate to share a bit of our culture with our readers.  

Andrew Wyeth is one of Maine's most notable artists.  His intense attention to detail brought a stark realism to his work.  A copy of this painting hung in my grandmother's home in Friendship, Maine.  The Olson House, seen in the upper right of the painting, was about 15 minutes from Friendship, on a beautiful peninsula of Maple Juice Cove.  Learn more about this dramatic paining HERE.

"Christina's World", Andrew Wyeth, 1948