Good financial planning is the process of making smart financial decisions over and over again. With time, these smart decisions compound on each other and give you the freedom to do more of the things that are important you. Just for fun, here is a quick list of some of the financial decisions we’ve recently made in my family…
• Updated our will and estate plan.
• Bought a used car instead of a new one.
• Added more term life insurance after our daughter Rhodes was born.
• Switched to a new tool for budgeting.
• Increased our contribution to our HSA (health savings account.)
• Moved our rainy-day fund from an online bank savings account to a money market account to get a higher interest rate.
Some of these decisions were big ones, like the changes to our will, while others were small. But it was the culmination of a lot of decisions like the ones listed that enabled our family to spend a few extra days in Portland, Oregon this summer.
During our visit, my son Cooper and I climbed to the top of Mt. Tabor, an extinct volcano that rises 636ft above Southeast Portland. When we arrived at the top we found something that we never could have imagined. An old, refurbished piano purposely placed in such a way that the if you sat on the bench to play you would also have one of the best views of the city of Portland available. Turns out the piano was placed there by an organization called Piano. Push. Play. They rescue pianos and put them on the street for everybody to enjoy.
This picture of Cooper sitting at the piano on top of a mountain with such a fantastic view of Portland reminds me of the things in life that are important to me. At Beacon, we’re passionate about helping you make smart decisions about your money. Not so you can get a higher interest rate on your savings or save money on your taxes – those are definitely important but they are just tactics. We do so because it enables you to experience more freedom to do the things that are most important to you.
What decisions do you need to make in the near future? Big or small, they’re important. We’re here to help.