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The View From Here

From Executive Director Jeff Brull, Fall 2019

I’ve been accused of suffering from a propensity to procrastinate. My brain, however, likes to let things cook for a while. Sometimes two seemingly unrelated things can have a common thread that makes them greater together than either one by itself. I consider this a desirable attribute, to be deliberate andobservant. But I’ll admit it’s not always the best course of action. Some situations require decisiveness to take advantage of an opportunity or avoid some threat. What I’d like to discuss here lies somewhere between these two extremes.

There’s an often-referenced theory that in our financial lives, we pass through three phases: 1) accumulation, 2) preservation, and 3) distribution. 1) We begin our adult lives by purchasing a home, vehicles, and hopefully, acquiring savings. 2) As we near the end of our working years, we might think of life somewhat like a basketball game; the clock is winding down and our team has a comfortable lead. We just want to get to the buzzer with our lead intact. At this point, we don’t take big risks. 3) Distribution is the phase where some homework, a reasonably good investment strategy, and having a solid plan can provide for us in retirement years. If we’ve been proactive throughout these three phases, we’ll be able to provide a legacy for our heirs, and maybe support a charity or two about which we are passionate.


To tie this all together, when we go through these phases of our financial lives, it’s important to avoid “analysis paralysis,” when we’re hesitant to make decisions or procrastinate because we’re waiting for the perfect time.
We also know it’s risky to make rash financial decisions based only on emotion. Fortunately, there’s a happy medium. I’m urging you to
take a moment today to commit to one action that will ease your mind about the future. Open a dialogue with your family about your hopes and wishes. Learn something new about creative ways to leave your mark long after you’re gone. Set up an appointment with your attorney or financial advisor. A little planning and learning along the way are very good things. We have a tool to help you do this. Visit haysmedfoundation.org/Legacy. You’ll find some useful tools to help you get started.